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Following a similar project with the Busan Metropolitan Government, Hyosung TNC joins hands with Jeollanam-do to establish recycling system for waste fishing nets
□ Signs MOU with Jeollanam-do and Yeosu Gwangyang Port Authority on August 20 for recycling of waste fishing nets
Hyosung TNC signed on August 20 an MOU on a waste fishing net recycling project under which it will produce "Mipan Regen Ocean," a nylon fiber recycled from waste fishing nets in oceans. The signing ceremony was attended by Hyosung TNC CEO Kim Yong-seup, Jeollanam-do Governor Kim Yung-rok, and Yeosu Gwangyang Port Corporation CEO Cha Min-sik.
The agreement was designed to reduce marine ecosystem pollution caused by lost waste fishing nets, which would contribute to the sustainability of the ocean, and enhance awareness of marine environmental protection.
Under this agreement, Jeollanam-do will establish a system to separate and discharge waste fishing nets and support stable supply of fishing nets. The Yeosu Gwangyang Port Authority will separate and discharge waste fishing nets and waste plastics from marine waste. Hyosung TNC will produce the Mipan Regen Ocean recycled nylon fiber from the collected waste fishing nets.
□ Expanded production of 'Mipan Regen Ocean' through investment in depolymerization facilities
Hyosung TNC said it will also expand investment in depolymerization facilities. The depolymerization facilities allow Hyosung TNC – which uses its own technology – to improve the purity of raw materials by removing impurities from the fishing nets in the production process of "Mipan Regen Ocean."
Hyosung TNC plans to augment its depolymerization facilities by early next year to produce more than 150 tons of Mipan Regen Ocean collected by Busan and Jeollanam-do per month. It will sell it mainly to domestic and foreign outdoor brands.
"Mipan Regen" is the world's first nylon fiber made by Hyosung in 2007 from recycled waste fishing nets.
Hyosung TNC relaunched its waste fishing net-recycled fiber with the name "Mipan Regen Ocean" when it signed an agreement with the Busan Metropolitan Government in May to establish a system for recycling waste fishing nets. The latest agreement with Jeollanam-do allows Hyosung TNC to have a wider waste fishing net collection area and secure stable supply of waste fishing nets, which will lead to increased production of Mipan Regen Ocean.
Hyosung TNC is a leading global eco-friendly company. It has been producing eco-friendly bags and clothing with "Regen," a fiber recycled from transparent PET bottles, in collaboration with local governments in Jeju, Seoul, and Busan. The recycled goods have gained sensational popularity among the MZ generation.