[Photo]: PUM-TECH Korea CEO Lee Do Hoon (left) and LOTTE Chemical Basic Material Business CEO Hwang Jin Koo (right) photo commemorating the signing of the MOU

■ Joint efforts on the development and commercialization of cosmetic product packaging products that apply eco-friendly materials
■ Plans to develop cosmetic product containers applying LOTTE Chemical’s ‘PET CLEAR’ materials that are easy to recycle within this year
■ LOTTE Chemical Basic Materials Business CEO Hwang Jin Koo, “We will develop as a company that leads resource circulation trends by developing high-value materials suitable for eco-friendly management of client companies and through stable supply of raw materials”

Korea’s top chemical company LOTTE Chemical and the plastic container manufacturer and seller PUM-TECH Korea announced that an MOU ceremony for the development of sustainable eco-friendly cosmetic product packaging was held at the LOTTE Chemical headquarters in Jamsil in the afternoon of the 19th.

With the attendance of LOTTE Chemical Basic Materials Business CEO Hwang Jin Koo and PUM-TECH Korea CEO Lee Do Hoon, the two companies agreed to make joint efforts for the development and commercialization of cosmetic product packaging that applies eco-friendly materials through cooperation for the construction of a plastic circulation platform in the cosmetic product market.

Global cosmetic product brands must observe regulations of using only recyclable materials for the cosmetic product containers from 2025, and accordingly, it was announced that the goal was set to use higher levels of recyclable materials and apply it in product packages.

Accordingly, the two companies agreed to launch packaging products that use LOTTE Chemical’s ‘PET CLEAR’ materials, which use PIA that is an additive similar to existing PET materials for easy recycling and cost-competitive, in order to actively respond to the eco-friendly packaging demands of client companies.

LOTTE Chemical Basic Materials Business CEO Hwang Jin Koo commented about this cooperation by stating, “We will develop as a company that leads resource circulation trends by developing high-value materials suitable for eco-friendly management of client companies and through stable supply of raw materials.”

PUM-TECH Korea CEO Lee Do Hoon stated, “We will step up our efforts to expand our innovative eco-friendly product lineup through this cooperation,” adding, “We will strive to realize stable and sustainable growth as a company that practices ESG management.”

Meanwhile, LOTTE Chemical proclaimed 『Every Step for GREEN』 last year and plans to increase the scope of eco-friendly recycled materials business to 1 million tons by 2030, while also systematically managing the impact and risks of raw materials, its sales, use and disposal, etc. on the economy, environment and society.