SK Construction Advances Eco-Friendly Technology Acquisition Through MOU with Korea Research Institute of Chemical Technology

Published 13 Nov.2020 09:18(KST)

SK Engineering & Construction announced on the 13th that it signed a Memorandum of Understanding (MOU) on the 12th with the Korea Research Institute of Chemical Technology for research and development and commercialization of eco-friendly technologies. From left: Byungkwon Kim, Head of Recycling Business Group at SK Engineering & Construction; Mihye Lee, President of the Korea Research Institute of Chemical Technology; Youngkyu Hwang, Director of the Chemical Process Research Division at the Korea Research Institute of Chemical Technology, are posing for a commemorative photo after the signing ceremony. (Photo by SK Engineering & Construction)

[Asia Economy Reporter Lee Chun-hee] SK Engineering & Construction, which has begun full-scale promotion of eco-friendly business and strengthening ESG (environment, social, governance) management, is also actively engaging in technology development to support this.

On the 12th, SK Engineering & Construction announced on the 13th that it signed a memorandum of understanding (MOU) with the Korea Research Institute of Chemical Technology (KRICT) for research and development and commercialization of eco-friendly technologies. KRICT is a public research institute under the Ministry of Science and ICT, leading the development of eco-friendly chemical processes and green chemical materials to address climate change and environmental issues.

The two parties agreed to collaborate on researching and developing eco-friendly technologies and promoting related new businesses to increase the added value of low-utilization resources such as waste plastics and Pet-Coke (solid byproduct remaining last in the crude oil refining process) from the perspective of waste resource circulation and sustainability.

According to this agreement, KRICT will focus on developing core technologies, while SK Engineering & Construction will review the commercialization and business application of these technologies. The main areas of cooperation include research and development of ▲waste plastic resource recovery technology ▲carbon dioxide capture and recycling technology ▲eco-friendly hydrogen production technology ▲Pet-Coke resource recycling technology.

Recently, SK Engineering & Construction has been actively promoting eco-friendly businesses, including acquiring EMC Holdings, the largest environmental platform company in Korea, and opening the SOFC (solid oxide fuel cell) factory of BloomSK Fuel Cell, a joint venture with US-based Bloom Energy, accelerating the localization of fuel cells. Through this agreement, the company plans to strengthen its R&D capabilities related to eco-friendly businesses and secure competitiveness for global market entry by utilizing the core technologies possessed by KRICT.

SK Engineering & Construction President Ahn Jae-hyun said, "We expect this agreement to accelerate the expansion of eco-friendly businesses that SK Engineering & Construction is actively pursuing," adding, "We will continuously strive to discover and commercialize new eco-friendly technologies based on a strategic partnership with KRICT."