[Photo]: (From right) Choi Young Kwang, head of LOTTE Chemical's communication division, Kim Mi Gon, head of the Korea Senior Human Resources Development Institute, Lee Young Hoon, head of Michuhol-gu District Office, and Lee Soo Min, head of Michuhol Senior Club, are taking commemorative photos at the MOU on the afternoon of the 18th.

■ MOU signed at Michuhol District Office, Incheon in the afternoon of the 18th… Infrastructural support, i.e., renovating the ESG Center and rebuilding the facilities, to expand the construction of resource circulation system in the community.
■ “LOTTE Chemical has supported and reinforced the construction of resource circulation ecosystem for the sustainable business and growth,” said Choi Young Gwang, Director of LOTTE Chemical’s Communications Division. "We will constantly expand various activities for joint development with the local community.”

In the afternoon of the 18th, LOTTE Chemical signed a Memorandum of Understanding (MOU) to establish the Michuhol District ESG Center at Michuhol District Office in Incheon. The signing ceremony was attended by Choi Young Gwang, Director of Communications Division at LOTTE Chemical; Lee Young Hoon, Mayor of Michuhol District; Kim Mi Gon, President of the Korea Senior Citizens Employment Development Institute; and Lee Soo Min, Director of Michuhol Senior Club.

Under the MOU, LOTTE Chemical will provide infrastructural support, including renovation of the ESG Center and facilities. Michuhol District will provide the property for the ESG Center and offer various administrative supports, including promoting the ESG Center to relevant agencies and residents and steering the overall project. The Korea Senior Citizens Employment Development Institute will support the initial investment costs and participant wages for the ESG Center, and assist in discovering new business opportunities, while Michuhol Senior Club will support the operation of project teams and manage senior employment.

The Michuhol District ESG Center will serve as a hub for establishing a resource circulation model that produces and sells new products through upcycling after collecting, washing, and sort plastics from the local area through a senior employment program and turning them into raw materials (yarn/fabric). The revenue generated from this project will be reinvested into creating jobs for local seniors, youth, and women who have experienced career interruptions, as well as into the operation of the ESG Center.

Additionally, small spaces within the ESG Center will be utilized to host ESG forums and environmental training programs for local residents, encouraging community participation and environmental awareness.

“LOTTE Chemical has supported and reinforced the construction of resource circulation ecosystem for the sustainable business and growth,” said Choi Young Gwang, Director of LOTTE Chemical’s Communications Division. "We will constantly expand various activities for joint development with the local community.”

Lee Young Hoon, Mayor of Michuhol-gu, stated, "By utilizing recyclables generated in Michuhol-gu as recycled raw materials and selling upcycled products, this resource circulation model will create new jobs for local seniors, making them key players in the project. Their activities are expected to help prevent loneliness, dementia, and reduce medical costs." He also added, "With the annual increase in recyclable waste, identifying projects for the future that address these social issues is expected to enhance residents' quality of life by protecting the environment, reducing budget expenditures, creating local jobs, and establishing Michuhol District as an eco-friendly, healthy city."

LOTTE Chemical is supporting the operation of ESG centers and upcycling research institutes as local resource circulation hubs in Busan and Ulsan. The company plans to continue opening new centers in the future.