Two Recycling Stockpile Facilities Established in Chungbuk... "Preventing Backlogs, Stabilizing Market"

Ministry of Environment Signs Investment Agreement with Chungbuk Province and Eumseong County

Asia Economy DB=Photo by Moon Honam munonam@

[Asia Economy Reporter Kim Bo-kyung] The government will establish two new recycling stockpile facilities in Eumseong-gun, Chungbuk Province to stabilize the recycling market.

On the morning of the 11th, the Ministry of Environment signed an investment agreement for the construction of recycling stockpile facilities at Chungbuk Provincial Office with the Korea Environment Corporation, Chungcheongbuk-do Province, and Eumseong-gun. The signing ceremony was attended by Hong Jeong-gi, Vice Minister of Environment; Lee Si-jong, Governor of Chungcheongbuk-do; Jo Byeong-ok, Mayor of Eumseong-gun; and Jang Jun-young, Director of Korea Environment Corporation.

This agreement involves the construction of two new recycling stockpile facilities in Eumseong-gun, Chungbuk Province, aimed at stabilizing the recycling market for materials such as recycled plastic raw materials and revitalizing the local economy.

Through this agreement, the Ministry of Environment plans to begin construction in September within the Seongbon Industrial Complex in Eumseong-gun, establishing two recycling stockpile facilities (with a capacity of 19,500 tons based on PET flakes). These facilities will be utilized for public stockpiling projects in case of supply-demand instability or backlog in the domestic recycling market.

The Seongbon Industrial Complex is evaluated as an excellent location for responding to the recycling market because it is within one hour's distance from Yongin, Pyeongtaek, Hwaseong, where 55% of recycling companies in the metropolitan area are concentrated.

The Ministry of Environment currently operates one stockpile facility (Jeongeup) and plans to expand to four facilities (Anseong, Daegu, Cheongju) by March. By adding the two facilities in Eumseong-gun through this agreement, a total of six stockpile warehouses will be gradually secured by the first half of 2022.

It is expected that expanding recycling stockpile facilities will establish a foundation for market stabilization measures such as improving distribution conditions and enhancing industry profitability when the market becomes unstable.

Hong Dong-gon, Director of the Resource Circulation Policy Division at the Ministry of Environment, said, "We will strive to expand public recycling stockpile facilities early to prevent congestion in the distribution flow of the recycling market and continuously improve the profitability of related industries."

This content was produced with the assistance of AI translation services.