LOTTE Chemical Ulsan Factory ‘Converts to Green Factory’
Transforming to C-rPET Production Resource Circulation Development Advance Base for ‘Carbon Neutralization · Eco-friendly Businesses.’
 

█ On the 9th, entered MOU with Ulsan City for constructing a plastic circulating economy platform,
█ LOTTE Chemical invests app. 100 billion KRW to build 110,000-ton C-rPET plant by 2024... Additional
   investments to be made by 2030 for full production with 340,000-ton C-rPET annually
█ LOTTE Chemical leading changes for expanding resource circulation as the nation’s top PET company
█ In addition to C-rPET commercialization, cooperate with SMEs to support win-win model for M-rPET
█ Basic Materials Business President Jin Goo Hwang stated, “We will expand eco-friendly business fields
   such as additional expansion of the C-rPET, PCR-PP, bio PET, and plastic recycle businesses”…
   “Expand additional value of the Ulsan Factory by advancing materials through the development of new
   uses for the global no.1 PIA product”

 

 

LOTTE Chemical Ulsan Factory will change to a green factory.

LOTTE Chemical entered an MOU with Ulsan on the 9th to construct an eco-friendly plastic recycling platform. Ulsan Mayor Cheol Ho Song and LOTTE Chemical Basic Materials Business President Jin Goo Hwang were present at the MOU ceremony held at Ulsan City Hall.

Through this MOU, LOTTE Chemical will invest approximately 100 billion KRW by 2024 to build an 110,000-ton C-rPET factory. Ulsan City plans to provide full administrative support such as relevant licensing and authorization. It is expected that this will help contribute to energizing the local economy and creating jobs.

C-rPET is produced using technologies that chemically recycles waste PET. By chemically decomposing waste PET and then completing a polymerization process for the refined materials, the C-rPET is finally produced. Colored and low-quality waste PET, which were difficult to mechanically recycle in the past, can also be used as the raw material, and it is characterized by no drop in quality even with repeated recycling.

For this, LOTTE Chemical will become the first in the nation to establish a depolymerization plant that can handle 50,000 tons of waste PET flakes annually, and plans to construct an 110,000-ton C-rPET production facility that polymerizes the depolymerized monomer (BHET) back to PET. It plans to begin mass production and sales upon completion. Afterwards, it plans to expand the depolymerization and C-rPET factory to increase the C-rPET business to 260,000 tons and convert the existing Ulsan PET plant that produces 340,000 tons annually completely to C-rPET by 2030.

In addition to C-rPET commercialization, LOTTE Chemical plans to use the M-rPET sales produced by vendors in LOTTE Chemical’s brand and overseas export distribution network as part of its PET recycling platform construction strategy. It is expected that win-win cooperation with SME vendors will be strengthened.

For sustainable growth and to expand its eco-friendly business, LOTTE Chemical had implemented the ESG business strategy 『Green Promise 2030』 initiative by February of this year to set eco-friendly business directions and concretize pursuance projects. The four major projects of 『Strengthening eco-friendly business』 『Expanding resource circulation』 『Responding to the climate crisis』 『Establishing a green ecosystem』 were set and it will aim at posting chemical BU eco-friendly business sales of 6 trillion KRW, expanding recycled materials to one million tons, and achieving carbon neutral growth that does in which there is no increase in carbon emissions by 2030.

The conversion of the Ulsan Factory to a green factory is also part of LOTTE Chemical’s expansion of ESG management. LOTTE Chemical plans to lead changes for expanding resource circulation through C-rPET commercialization, which has high technological difficulty, as Korea’s top PET production company.

LOTTE Chemical Basic Materials Business President Jin Goo Hwang said, “In addition to the C-rPET production plans that we just announced, we also plan to expand our eco-friendly business fields in earnest such as additionally expanding PCR-PP, bio PET, and plastic recycle businesses,” and added, “Together with this, by developing new uses for the global no. 1 PIA products, we will also expand additional values for the Ulsan Factory by strengthening materials advancement.”

Ulsan Mayor Cheol Ho Song, who pledged mutual cooperation while signing the agreement for constructing an eco-friendly plastic recycling platform with LOTTE Chemical, said, “I would like to thank LOTTE Chemical that announced that it would preferentially hire citizens of Ulsan as it opens a new chapter of eco-friendly businesses in Ulsan.” He added, “I hope that we will be able to pursue various eco-friendly strategy projects and mutually develop based in Ulsan in the future.”