SK Geocentric "Meticulously Preparing High-Performance and Plastic Recycling"

President Na Kyung-su held an internal communication event in Ulsan on the 30th of last month
"Careful review of Ulsan ARC project plan... No decisions made yet"

Na Kyung-soo, President of SK Geocentric, stated, "Considering the uncertain management environment, we should prepare more meticulously for the plastic waste recycling business and high value-added chemical business that we have been promoting since 2019, and get ready for the future."

According to the industry on the 1st, President Na emphasized this during the 'Member Communication Day' event held at SK Innovation Ulsan Complex (CLX) on the 30th of last month.

President Na organized this event to explain the company's business competitiveness enhancement plans reviewed since early this year to all employees and to share the progress of major business operations.

He said, "The chemical business is a long-term irreplaceable market and a sector that global companies are focusing on. We have set our business strategy on high functionality and recycling (plastic waste recycling), and we will continue to promote the business in this direction." This reaffirmed the 'Carbon to Green' management strategy direction that the SK Innovation group has been pursuing since 2021.

Na Kyung-su, President of SK Geocentric Photo by SK Geocentric

An executive who participated in the event reportedly shared the progress of major business operations and said regarding the promotion of the recycling cluster Ulsan ARC (Advanced Recycling Cluster), "Considering the uncertain domestic and international economic situation, we are carefully reviewing the existing business promotion plans." The executive also stated that there is "no decision yet" on the timing and scale of individual projects such as Ulsan ARC pyrolysis and depolymerization.

SK Geocentric held the groundbreaking ceremony for Ulsan ARC, the world's first plastic recycling cluster, in November last year. The total investment amount is 1.8 trillion KRW. At that time, SK Geocentric announced plans to complete Ulsan ARC, capable of recycling 320,000 tons of plastic waste annually, by the end of 2025.