GS Caltex Signs Investment Contract for Preprocessing Facilities with Plastic Waste Recycling Company

Building a Circular Economy through Win-Win Cooperation between Large and Small-Medium Enterprises

Kim Hyung-guk, Head of GS Caltex Chemical Business Division (third from left), and Moon In-sang, President of ECO G&R (second from left), are taking a commemorative photo at the GS Caltex-ECO G&R waste plastic facility investment agreement ceremony. Photo by GS Caltex

[Asia Economy Reporter Donghoon Jung] GS Caltex has decided to invest in facilities for a plastic recycling specialist company to establish a circular economy and promote win-win cooperation between large and small-to-medium enterprises.

On the 26th, GS Caltex announced that it signed a facility investment contract for the production of recycled plastic materials at the GS Tower in Yeoksam-dong, Seoul, with key representatives from both companies attending, including Kim Hyung-guk, Head of GS Caltex Chemical Business Division, and Moon In-sang, President of ECO G&R.

Through this facility investment contract, GS Caltex will support ECO G&R with equipment capable of recycling not only automotive waste bumpers generated domestically but also plastic materials used in automotive interior and exterior parts, thereby creating a sustainable win-win cooperation ecosystem between large and small-to-medium enterprises.

ECO G&R, a specialist company in recycling automotive waste plastics, will be able to establish facilities capable of preprocessing approximately 10,000 tons of recycled materials annually through this business agreement.

GS Caltex plans to support the stable consumption of products produced through a long-term purchase contract with ECO G&R as raw materials for eco-friendly composite resins. This is expected to contribute to achieving a circular economy where recycled plastics generated not only by ECO G&R but also by domestic scrapyards and maintenance shops can be smoothly recycled.

Both companies plan to promote joint research and development through facility support and technical cooperation to increase the recycling rate of automotive waste plastics. They will actively discuss ways to collaborate across the entire plastic recycling sector in the future and establish a sustainable win-win model.

Kim Hyung-guk, Head of GS Caltex Chemical Business Division, said, "This facility investment contract between the two companies is an exemplary case of win-win cooperation between large and small-to-medium enterprises for building a sustainable circular economy. GS Caltex will continue to respect the unique business areas of partner companies engaged in plastic recycling and will continuously consider practical and diverse support measures such as purchasing and technical assistance to ensure recycled plastics can be utilized as high-quality, high-value eco-friendly composite resins."

GS Caltex is making efforts to build a single ecosystem from the stage of producing raw materials using recycled plastics to the process of manufacturing products. To this end, it supports the advancement of the recycling preprocessing process for plastic recycling companies and is conducting research and development to enable recycled materials to be used in high-value-added products.

Since 2010, GS Caltex has been producing eco-friendly composite resins through composite resin plants domestically (Jinju, Gyeongnam) and overseas (China, Czech Republic, Mexico), with more than 15% of the total composite resin production volume made using recycled plastics.

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