Kolon Industries Expands Recycled PET Business Using Military Waste Plastic

[Asia Economy Reporter Hwang Yoon-joo] Kolon Industries announced on the 22nd that it has signed a Memorandum of Understanding (MOU) with the Korea Veterans Association to develop and promote business for plastic recycling technology based on eco-friendly methods.

Kolon Industries will first investigate the amount of waste plastic generated nationwide that has been used for military purposes and then discarded or incinerated, and will dataize whether it is suitable as raw material for recycling. The items to be investigated in collaboration with the Veterans Association are mainly non-combat daily necessities, and in the future, they plan to receive military waste plastic, which is mostly incinerated after use, as raw material for recycled PET (Polyester). Kolon Industries expects high business synergy, including securing a stable raw material supply chain, through cooperation with the Veterans Association, which has 10 million members nationwide and a rich network covering all military branches.

As part of its ESG (Environmental, Social, and Governance) management, Kolon Industries is focusing on developing eco-friendly polyester (PET) recycling technology using waste plastic, which has recently attracted attention. The existing mechanical recycling method through heat treatment has limitations in removing impurities contained in waste raw materials, so the types of waste that can be recycled are very limited. On the other hand, Kolon Industries’ chemical recycling method can extract high-purity raw materials regardless of the type or contamination level of the waste, making it applicable to most recycled plastic products.

Recycled PET is evaluated as a more eco-friendly technology because it can reduce energy consumption and CO2 emissions by about 30-40% compared to conventional PET manufactured from crude oil. Based on its proprietary plastic recycling technology, Kolon Industries plans to solidify its position in the recycled PET market through full-scale mass production starting in 2025 and continue to expand the proportion of its eco-friendly business.

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