On the 8th, Work Consultation for Forest Biodiversity Conservation and Restoration
Promotion of Soil Restoration Project on Actual Forest Damage Sites
Accelerating Development and Commercialization of High-Value Specialty Material New Products
Lotte Fine Chemical announced on the 9th that it has agreed to mutually cooperate with the Korea National Arboretum Management Institute (hereinafter referred to as KNA) to strengthen the conservation and restoration of forest biological resources.
On the previous day, Lotte Fine Chemical held a business consultation with KNA, under the Korea Forest Service, at the National Sejong Arboretum using the K-Testbed to discuss the conservation and restoration of forest biodiversity. Seven people attended, including Kim Yong-seok, CEO of Lotte Fine Chemical, and Ryu Kwang-soo, Chairman of KNA.
Both parties agreed to strengthen the establishment of a cooperative system, including the development of material technologies for forest restoration of damaged forest areas, and to promote joint projects for this purpose.
Lotte Fine Chemical is developing soil improvement-related technologies for new applications in the specialty materials field. This collaboration signifies that they can accelerate the development and commercialization of new high-value specialty material products by advancing a project to restore the soil of actual damaged forest areas.
Since 2021, KNA has participated in the Ministry of Economy and Finance’s K-Testbed project, supporting simple demonstrations, technology and product performance verification, and technology development in areas such as garden plants and supplies, native plants, and seed technology development.
Lotte Fine Chemical and Korea National Arboretum discuss cooperation on forest biological resource conservation and restoration. Kim Yong-seok, CEO of Lotte Fine Chemical (third from the left), Ryu Kwang-soo, Chairman of Korea National Arboretum, and Han Chang-sul, Director of Baekdudaegan Arboretum [Photo by Lotte Fine Chemical]
CEO Kim Yong-seok said, "As natural disasters and desertification caused by global warming worsen, the demand for soil improvement materials will increase," adding, "Through technology demonstration and joint business cooperation with KNA, we will early commercialize specialty materials that help protect forests and crops domestically and internationally."
Chairman Ryu Kwang-soo said, "Starting with today’s business consultation, we will further strengthen cooperation for the conservation and restoration of forest biological resources," and added, "We will take the lead in developing various technologies for forest biological resource conservation and restoration by actively utilizing the resources and technological capabilities possessed by both institutions."
Lotte Fine Chemical is expanding its chemical business centered on semiconductors and eco-friendly ammonia, as well as its green materials business focused on cellulose, and is also expanding its eco-friendly materials business. Along with advancing ESG management, it is leading efforts to strengthen environmental management such as achieving carbon neutrality.
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