SK invests 140 billion KRW in Japanese eco-friendly unicorn company, acquires 10% stake in TBM

[Asia Economy Reporter Hwang Yoon-joo] SK Japan Investment Corporation has invested 140 billion KRW in a Japanese eco-friendly material unicorn company.

On the 1st, SK Japan Investment Corporation announced that it had signed a contract to purchase a 10% stake (approximately 140 billion KRW) in the Japanese company TBM.

TBM is a company that produces the eco-friendly material "LIMEX," which contains more than 50% inorganic substances such as limestone that can replace conventional plastic materials. Since its establishment in 2011, it has been a rapidly growing unicorn company (a venture company with assets valued at over 1 billion USD).

Through this contract, LIMEX, which is both eco-friendly and price-competitive, can be sold in Korea, the United States, and other markets.

In May, four companies?SK Inc., SKC, SK Materials, and SK Siltron?established SK Japan Investment Corporation and agreed to invest a total of 40 billion yen (approximately 408 billion KRW). SK Japan Investment Corporation plans to continue using ESG (Environmental, Social, and Governance) as one of the core criteria for investment to secure new growth engines.

Given that governments worldwide are strengthening ESG management?for example, the European Union (EU) has broadly banned the use of single-use plastic items such as straws, cotton swabs, knives, and forks starting this year, and China banned the production and sale of single-use plastics earlier this year?the growth potential of LIMEX is attracting attention.

Separately from the equity investment, SKC plans to establish a joint venture (JV) with TBM to jointly promote the biodegradable plastic business, aiming to develop biodegradable LIMEX with heat resistance and impact resistance and to expand its product lineup.

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