hy Signs MOU with Kumho Petrochemical for Low-Carbon Circular Economy

[Asia Economy Reporter Song Seung-yoon] hy announced on the 21st that it signed a memorandum of understanding (MOU) with Kumho Petrochemical to practice a low-carbon circular economy. The signing ceremony was held at hy headquarters in Seocho-gu, Seoul, attended by key officials including hy CEO Kim Byung-jin and Kumho Petrochemical CEO Baek Jong-hoon.

Both companies agreed on the necessity of reducing carbon emissions for a sustainable society and decided to reduce and recycle waste plastics. Kumho Petrochemical will reuse low-quality bottles generated during the fermented milk production process and used waste bottles. After undergoing certain processes, these will be used as resin for manufacturing home appliances such as refrigerators and TVs. The annual amount of recycled plastic is expected to exceed 200 tons, and the budget saved will be used to support vulnerable groups such as elderly living alone and multicultural families.

With this agreement, hy plans to actively pursue eco-friendly and low-carbon management. The company will form an internal dedicated team focusing on plastic reduction. Various measures are being considered, including ▲lightweight product packaging ▲changing container materials ▲launching label-free products ▲simplifying packaging.

Kim Byung-jin, CEO of hy, stated, "We strongly agree with the carbon neutrality policy for the environment and future generations and will strive to establish a resource circulation system through cooperative relations with Kumho Petrochemical. hy will continue to fulfill its responsibility to create a sustainable environment as a member of the social community."

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