Published 04 Nov.2021 14:23(KST)
[Asia Economy Reporter Hyungsoo Park] Hanchang Paper is showing strong performance. As interest in eco-friendly products grows, attention seems to be increasing toward Hanchang Paper, which produces and distributes eco-friendly food containers using biodegradable biomass materials.
At 2:23 PM on the 4th, Hanchang Paper was trading at 2,150 KRW, up 4.62% from the previous day.
Hanchang Paper developed the eco-friendly paper cup 'Eco Peace Cup' using PLA (Polylactic acid), a natural material extracted from corn, for the first time in Korea. Unlike conventional paper cups coated with polyethylene (PE) that do not biodegrade, the Eco Peace Cup coated with PLA is 100% biodegradable. The buying spree is interpreted as a response to government policies on plastic reduction and carbon neutrality.
Interest in eco-friendliness is growing in the domestic stock market. ESG (Environmental, Social, and Governance) is having a significant impact on the domestic corporate environment, leading to a strong movement to adopt eco-friendly materials.
Hanchang Paper produces and distributes eco-friendly food containers using biodegradable biomass materials for the health of humanity and environmental protection. Greenus is Hanchang Paper's eco-friendly brand, which has passed strict quality control and various domestic and international certifications. The paper cups introduced by Hanchang Paper are 100% compostable by microorganisms and have obtained the U.S. biodegradability certification (BPI - Biodegradable Products Institute). They have also obtained the European eco-friendly certification (Seedling) and passed U.S. food safety approval (FDA).
According to the Resource Circulation Society Solidarity, an environmental protection civic group, the annual domestic usage of paper cups is 23 billion, with a recycling rate of less than 5%. Conventional disposable paper cups are coated with polyethylene (PE) inside for water resistance, making them non-separable for recycling and thus ending up in landfills or incineration.
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