Hyosung TNC Creates 'New Clothes' from 'Discarded Clothes'

US Ambicycle and MOU

Hyosung TNC is promoting a business that recycles discarded clothes or fabrics into new garments.

Hyosung TNC announced on the 13th that it recently signed a Memorandum of Understanding (MOU) with Ambercycle, located in California, USA, for the production of recycled circular fibers.

This MOU establishes a strategic partnership to maximize synergy between the two companies in order to target the global eco-friendly market.

Hyosung TNC developed Korea's first recycled polyester fiber made from discarded PET bottles and recycled nylon fiber called Regen, made from discarded fishing nets, in the mid-2000s. Since then, it has been leading the recycled fiber and fashion markets both domestically and globally.

Ambercycle possesses unique technology to recycle discarded clothing and fabric waste into polyester raw materials. Recently, it expanded the base of the recycled fiber market by signing a strategic partnership with Inditex, the parent company of the global fashion brand Zara.

Hyosung TNC is promoting a business that recycles waste clothing into new garments.
[Photo by Hyosung TNC]

Through this MOU, the two companies plan to produce polyester fibers using Ambercycle’s recycled polyester raw materials and launch clothing products through collaborations with fashion companies as part of a joint marketing program.

Hyosung TNC expects that this MOU will not only revitalize the recycled fiber market but also strengthen its position as a leader in the eco-friendly fiber market through true resource circulation, from discarded clothing to recycled fiber production.

Kim Chi-hyung, CEO of Hyosung TNC, stated, “Regen, Hyosung TNC’s recycled fiber, is an innovative product that brings sustainability to the textile market in the environmental circulation sector,” adding, “By collaborating with Ambercycle, we will enhance Regen’s innovation and brand power, establishing ourselves as the global No.1 company leading the eco-friendly fiber and fashion market.”

Shai Setty, CEO of Ambercycle, said, “To meet the increasing demand from brand partners, we will expand Ambercycle’s technology and, through cooperation with Hyosung, which has been at the center of eco-friendly material production for years, we will be able to expand into new markets worldwide, including Korea, a key leader in fiber production.”

The current global eco-friendly fiber and fashion market, including recycled fibers, is approximately 23 trillion KRW in size and is growing at an annual rate of 12.5%. It is expected to grow to about 75 trillion KRW by 2030, including upstream and downstream businesses.

Hyosung TNC plans to increase the sales volume of eco-friendly fibers, which currently account for 4% of its textile division sales, to about 20% by 2030, expanding more than fivefold.

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