Large Corporations to Focus on High Value-Added Manufacturing
Small and Medium-Sized Enterprises to Actively Cooperate in R&D
The Win-Win Growth Committee announced on the 9th that it will hold the "Win-Win Agreement Ceremony between Large Corporations and Small and Medium-Sized Enterprises in the Plastic Recycling Industry," with participation from the Korea Resource Recycling Federation, nine major corporations engaged in plastic recycling, and the Korea Chemical Industry Council.
The agreement ceremony will be held at 2:00 p.m. today in Meeting Room 4 of the Members' Office Building of the National Assembly in Yeongdeungpo-gu, Seoul. It is an extension of the "Win-Win Agreement between Large Corporations and Small and Medium-Sized Enterprises in the Plastic Recycling Industry," which was signed in November 2022 to protect the business areas of small and medium-sized enterprises in the plastic recycling industry and to promote win-win cooperation with large corporations. The agreement period is three years.
Through this agreement, large corporations will focus on manufacturing high value-added and high-quality products that require large-scale investments and are therefore difficult for small and medium-sized enterprises to carry out independently, and they will refrain from entering the physical recycling market and expanding related facilities. In addition, large corporations will be allowed to make equity investments, jointly with professional investment institutions, in small and medium-sized enterprises engaged in the plastic recycling business, provided that they do not directly exercise management control over those companies.
Small and medium-sized enterprises will actively pursue facility upgrades to improve plastic sorting rates and research and development for the production of high-purity recycled products, and they will work together with large corporations to ensure a stable supply of high-quality raw materials and to help large corporations secure carbon emission allowances.
The Federation agreed to join forces in win-win cooperation, recognizing the need for collaboration in response to global eco-friendly policies.
Win-Win Growth Committee Chairman Lee Dalgon said, "Win-win cooperation between large corporations and small and medium-sized enterprises in the plastic recycling industry is an essential element for achieving carbon neutrality," adding, "The Win-Win Growth Committee will work together to promote cooperation between large corporations and small and medium-sized enterprises in the plastic recycling industry through this win-win agreement."
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