From Coca-Cola to Olive Young, 'Plastic Reduction'... Public-Private Partnership Launched

Launch of Sustainable Plastic Circular Economy Initiative

On June 5th, Environment Day, the Korean Federation for Environmental Movements installed a waste plastic sculpture in Jongno-gu, Seoul. The photo is unrelated to the article content. Photo by Jo Yongjun jun21@

The Ministry of Environment announced on the 24th that it will launch the "Sustainable Plastic Circular Economy Initiative."

This initiative was created to foster cooperation between the public and private sectors throughout all stages of the plastic lifecycle, including production, consumption, and recycling. Its main goals include activating the use of recycled raw materials by product category, discovering business models for reusable containers, and implementing the international plastic pollution treaty. Cooperation will also extend to related research and development, infrastructure construction, and support for developing countries.

The launch ceremony will be held at BEXCO in Haeundae, Busan, coinciding with the 5th Intergovernmental Negotiating Committee (INC-5) for the International Plastic Pollution Treaty, starting on the 25th. Attendees include Kim Wan-seop, Minister of Environment; Park Hyung-joon, Mayor of Busan Metropolitan City; and Kim Sang-hyup, Chairman of the Global Green Growth Institute. Fourteen companies, including Coca-Cola, Amorepacific, Lotte Chemical, SK Chemicals, and Olive Young, are participating. Additionally, four associations and organizations, as well as three overseas industry councils, have joined.

At the launch ceremony, the Ellen MacArthur Foundation will introduce exemplary circular economy cases from the United States, Australia, Canada, and others, followed by discussions on cooperation plans with the initiative. The domestic industry will discuss circular economy cooperation projects through companies' creative solutions, such as annual activation of recycled fuels, expansion of reuse and refill hubs, and raising consumer awareness.

The Ministry of Environment plans to prepare multifaceted support measures in line with rapidly changing international trends. In particular, it intends to actively share the experiences, knowledge, and best practices gained through the operation of the initiative with international organizations and overseas industry councils worldwide.

Minister of Environment Kim Wan-seop emphasized, "The circular economy is the path our society must take to solve the plastic pollution problem and secure new growth engines," adding, "Based on corporate innovation and the spirit of international cooperation, the Ministry of Environment will take the lead in transitioning to a circular economy."