LG Chem Targets Global Market with Eco-Friendly Luxury Flooring in Partnership with Noksu Co., Ltd.

Production of Luxury Vinyl Tiles Using PVC with Plant-Based Materials

Bio-balanced products applied with LG Chem's eco-friendly brand LETZero. Photo by LG Chem

[Asia Economy Reporter Donghoon Jeong] LG Chem is partnering with flooring company Noksu Co., Ltd. to collaborate on a PVC (polyvinyl chloride) business using bio-based raw materials.

On the 5th, LG Chem announced that its Petrochemical Business Division Head Nokukrae Noh and Noksu CEO Donghwan Go, along with executives from both companies, signed a Memorandum of Understanding (MOU) for the "Bio-balanced PVC Business for Carbon Reduction and Resource Circulation" at Noksu’s Seocho office in Seoul. Bio-balanced refers to materials made by incorporating bio-based raw materials extracted from renewable sources.

PVC is a representative general-purpose plastic that replaces wood or steel due to its excellent insulation performance and durability, mainly used as raw materials for flooring, windows, and construction materials.

The collaboration structure is such that LG Chem supplies PVC made from renewable plant-based raw materials like waste cooking oil to Noksu, which then manufactures it into luxury vinyl tiles for residential and commercial high-performance flooring and sells them in over 50 countries worldwide through its global distribution network.

Noksu holds the number one global market share (about 20%) in commercial luxury vinyl tiles (LVT). Noksu’s products are used mainly in large supermarkets, airport lounges, upscale residential complexes, hotels, and department stores due to their differentiated multilayer structure technology, quality, and the world’s largest variety of designs.

Both companies plan to launch a new product in January next year, with LG Chem scheduled to supply the initial batch of ISCC PLUS internationally certified bio-based (Bio-balanced) PVC to Noksu this month.

The ISCC PLUS certification is an international certification system compliant with the European Union (EU) Renewable Energy Directive and is a representative means of proving the sustainability of eco-friendly materials and products.

Donghwan Go, CEO of Noksu, said, "We are pleased that our long-standing partnership with LG Chem has resulted in the meaningful achievement of developing luxury flooring using bio-based raw materials. We will actively utilize Noksu’s global manufacturing facilities and distribution network to apply bio-balanced PVC across all products and expand plans to produce only 100% recyclable flooring, thereby strengthening company-wide ESG management."

Nokukrae Noh, Head of LG Chem’s Petrochemical Business Division, said, "The two companies have a strong foundation of leading the market with various innovative products applying eco-friendly materials through a long-term close partnership. We will expand our business structure and product portfolio to meet customer needs for sustainable materials and lead the eco-friendly materials sector in the global market."

Meanwhile, since starting the first export of SAP (superabsorbent polymer) using bio-based raw materials in August last year, LG Chem has continued supply contracts with major domestic and international customers for PVC (polyvinyl chloride), NPG (neopentyl glycol), Phenol, Acetone, and more, pioneering new markets with the world’s largest number of over 50 ISCC PLUS internationally certified products.

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