LG Chem Builds Plastic Circular Platform with Innerbottle and CJ Logistics
Material → Product → Collection → Recycling Virtuous Cycle System
[Asia Economy Reporter Moon Chaeseok] LG Chem is accelerating the establishment of a platform encompassing plastic production, collection, and recycling together with Innerbottle and CJ Logistics.
On the 30th, LG Chem announced that it signed the '2022 Resource Circulation Platform Establishment Memorandum of Understanding (MOU)' with Innerbottle and CJ Logistics at the LG Twin Towers in Yeouido, Yeongdeungpo-gu, Seoul. The event was attended by Lee Minjong, Sustainability1 Manager, Oh Seil, CEO of Innerbottle, and Heo Sinyeol, Management Leader of CJ Logistics.
Through this agreement, the three companies plan to establish a resource circulation system connecting 'Material (LG Chem) → Product (Innerbottle) → Collection (CJ Logistics) → Recycle (LG Chem·Innerbottle)'. Innerbottle manufactures cosmetic containers using plastic materials provided by LG Chem. Used containers are collected by CJ Logistics and then recycled into raw materials by LG Chem and Innerbottle. Since the containers are standardized using only LG Chem’s plastic materials and collected and recycled through a dedicated system, 100% plastic reuse is possible.
Consumers can request product refills through Innerbottle’s online cosmetic refill shop 'Irion' website or application, then leave the used products at their doorstep. CJ Logistics delivery personnel collect the used products and deliver the refill products. Innerbottle cleans the collected containers for reuse. Containers that cannot be reused are purchased by LG Chem and recycled into clean raw materials. This system allows consumers not to have to carry containers to refill locations individually.
The Innerbottle solution applied to all products sold on Irion is an eco-friendly container with a double-layered silicone pouch inside a plastic bottle. The contents are contained only in the inner pouch. The outer plastic container can be reused with simple cleaning. Since the outer container is made from recycled plastic materials, it is expected to reduce waste and carbon emissions. An LG Chem official said, "Based on cooperation with CJ Logistics, we were able to complete the establishment of a resource circulation ecosystem involving large corporations and startups," adding, "We plan to accelerate the commercialization of eco-friendly products that reduce carbon emissions in the petrochemical business."
Hot Picks Today
"Buy on Black Monday"... Japan's Nomura Forecasts 590,000 for Samsung, 4 Million for SK hynix
- "Not Everyone Can Afford This: Inside the World of the True Top 0.1% [Luxury World]"
- "Plunged During the War, Now Surging Again"... The Real Reason Behind the 6% One-Day Silver Market Rally [Weekend Money]
- "We're Now Earning 10 Million Won a Month"... Semiconductor Boom Drives Performance Bonuses at Major Electronic Component Firms
- "Target Price Set at 970,000 Won"... Top Investors Already Watching, Only an 'Uptrend' Remains [Weekend Money]
Meanwhile, LG Chem is conducting joint research to replace Innerbottle’s silicone pouches with NB latex produced by LG Chem. They plan to replace non-recyclable cosmetic containers with eco-friendly plastic materials such as post-consumer recycled plastics produced by LG Chem.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.