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LOTTE Group Chemical Unit 'Project LOOP' expands waste plastic resource circulation ecosystem in Incheon
2023.05.04
LOTTE Group Chemical Unit 'Project LOOP' expands
waste plastic resource circulation ecosystem in Incheon
Photo: (from left to right) Incheon Federation for Environmental Movement co-president Shim Hyung Jin, AO2 Director Seo Hye Young, Inha University External Affairs President Kim Woong Hee, Michuhol Gu Head Lee Young Hoon of Incheon, LOTTE Aluminum CEO Cho Hyun Chul, LOTTE Chemical Communications Sector Director Choi Young Gwang
■ LOTTE Chemical enters MOU with LOTTE Aluminum, Michuhol-gu of Incheon, Inha University, Incheon Federation for Environmental Movement and AO2... Construction of resource
circulation system operation and mutual cooperation network by the private sector, public institutes, and academia to establish proper waste plastic recycling culture
■ Following installation of 40 waste PET bottle collectors in ‘22 and 23 in ‘23 together with LOTTE Aluminum at schools in Incheon, 12 more to be added in Michuhol-gu through this
MOU... Use of the collected waste plastics to be discussed with Project LOOP social venture companies
■ LOTTE Chemical President & CEO Kim Gyo Hyun, “We plan to expand the base for collection and advance the process continuously, and therefore, Project LOOP will fulfill its role as a
‘platform’ for making a loop in which various institutes can join to establish a resource circulation culture”
■ LOTTE Aluminum CEO Cho Hyun Chul, “We are delighted to be able to contribute to expand the ecosystem for proper recycling of waste plastics in the region as a member of Project
LOOP,” and added “LOTTE Aluminum plans to continue to accelerate implementation of the resource circulating economy and ESG management”
LOTTE Chemical’s ‘Project LOOP’ was expanded as the joint social contribution business of the LOTTE Group Chemical Unit to increase points for collecting waste plastics and expand a culture of proper recycling with the cooperation of local governments and academia in Incheon.
At the Michuhol-gu Office in Incheon in the afternoon of the 3rd, LOTTE Chemical, LOTTE Aluminum, Michuhol-gu of Incheon, Inha University, Incheon Federation for Environmental Movement, and AO2 signed an MOU for constructing a resource circulation system operation and mutual cooperation network to establish a culture of proper recycling with the attendance of LOTTE Aluminum CEO Cho Hyun Chul, LOTTE Chemical Communication Department Head Choi Young Gwang, Michuhol Gu Head Lee Young Hoon of Incheon, and Inha University External Affairs President Kim Woong Hee.
Through this MOU, the six institutes agreed to share necessary information and search for work cooperation and mutual support plans to expand the program.
Michuhol-gu will support the general management and operation of the business such as project PR and campaign operation for improving awareness and LOTTE Chemical will construct the recycling and collection system and provide rewards in Michuhol-gu. LOTTE Aluminum will manufacture and operate waste PET bottle collectors (PET bot) and Incheon Federation for Environmental Movement shall plan resource circulation education programs, dispatch resource circulation instructors, and support the management of collection points. Inha University will support research on resource circulation linking plans and develop the eco-circle, and AO2 will be in charge of app development and operation.
LOTTE Chemical has been pursuing Project LOOP since January of 2020 to construct a plastic circulating economy system through improved waste plastic collection cultures and recycling. This MOU is part of the LOOP Cluster for promoting recycling material sourcing with local governments and public/private facilities.
LOTTE Chemical has also been cooperating with LOTTE Aluminum, Incheon Office of Education and the Incheon Federation for Environmental Movement since last year and has installed and is operating 40 collectors in ‘22 and 23 in ‘23 at schools in Incheon. Through this MOU, Michuhol-gu will install an additional 12 at the gu office, Inha University, and community administration centers, thus operating a total of 75 collectors in Incheon.
Discussions will be held with Project LOOP Social Ventures 1 and 2 companies regarding waste plastics collected in Incheon.
LOTTE Chemical President & CEO Kim Gyo Hyun stated, “We plan to expand the base for collection and advance the process continuously, and therefore, Project LOOP will fulfill its role as a ‘platform’ for making a loop in which various institutes can join to establish a resource circulation culture”
LOTTE Aluminum CEO Cho Hyun Chul commented, “We are delighted to be able to contribute to expand the ecosystem for proper recycling of waste plastics in the region as a member of Project LOOP,” and added “LOTTE Aluminum plans to continue to accelerate implementation of the resource circulating economy and ESG management”
Meanwhile, aside from the LOOP Cluster, Project LOOP is expanding and developing the project to include LOOP Social for finding relevant social ventures, LOOP LOTTE that aims at spreading the recycling culture and expanding use of recycled materials within the LOTTE Group, and LOOP Alliance for expanding a recycling ecosystem among various industries.
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