Hong Jeong-gi, Vice Minister of Environment, Visits Recycling Company... "Considering Advance Payment of EPR Subsidies"
[Asia Economy Reporter Kim Bo-kyung] Hong Jeong-gi, Vice Minister of Environment (photo), visited Hanbaek Recycling Industry, a waste plastic recycling company located in Hwaseong, Gyeonggi Province, on the 17th to listen to the industry's difficulties and check the progress of the government's recycling market stabilization measures.
Hanbaek Recycling Industry is a comprehensive waste recycling company that recycles waste plastic to produce recycled raw material pellets, mainly exporting them overseas to countries such as China.
The waste plastic recycling market has recently faced blocked export routes overseas due to the spread of the novel coronavirus disease (COVID-19). With the continued decline in oil prices, demand for recycled products has sharply decreased, and the prices of recycled products (recycled raw materials) have continuously fallen, causing difficulties.
On the 13th, the Ministry of Environment announced recycling market stabilization measures, including early execution of recycling promotion loan funds, to cope with the current situation. This visit was arranged to hear voices from the field and actively promote the measures.
On this day, the industry requested active government support such as securing storage space for recycled products and advance payment of support funds under the Producer Responsibility Recycling System (EPR). In response, the Ministry of Environment stated that it will continuously monitor market trends and actively consider measures such as pre-purchasing and stockpiling recycled products along with advance payment of support funds.
Hot Picks Today
"Only Two Per Person" Garbage Bag Crisis Was Just Yesterday... Japan Also Faces Shortage Anxiety
- "Samsung Electronics Employee with 100 Million Won Salary Receiving 600 Million Won Bonus... Estimated Tax Revealed"
- Lived as Family for Over 30 Years... Daughter-in-Law Cast Aside After Husband's Death
- 'Will Demand Finally Decline Due to High Prices?'... "I'll Just Enjoy Nearby Trips" as Japan and China See a Surge
- "Wore It Once, Then This? White Spots All Over 4.15 Million Won Prada Jacket... 'Full Refund Ordered'"
Vice Minister Hong Jeong-gi emphasized, "We are closely monitoring the market situation, including strengthening monitoring of all stages of waste plastic recycling such as collection, sorting, and recycling," and added, "We will continue to communicate with the related industry and work together to improve the difficulties of the waste plastic recycling market."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
