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Hyosung TNC will establish a system for a virtuous circle of community resources by supplying "Regen" made of waste PET bottles in Gwangyang Bay to local companies.
The agreement on″ Gwangyang Bay Area Resources Circulation Project" was signed by Kim Moon-sun, Hyosung TNC′s chief executive of Nylon Polyester Fiber PU; Kim Ji-yong, POSCO′s head of Gwangyang Steel Plant; and Cha Min-sik, CEO of Yeosu Gwangyang Port Authority, on August 31.
The MOU is designed to establish a resources circulation system that bolsters sustainable consumption and production by recycling waste resources.
Under the agreement, POSCO will collect waste PET bottles in Gwangyang Steel Plant and Yeosu Gwangyang Port Authority will collect waste PET bottles in the port area.
Hyosung TNC will produce recycled fiber "Regen" with the waste PET bottles.
Regen is a fiber made by Hyosung TNC by recycling waste plastics to preserve the environment, and it has recently been receiving love calls from many fashion brands.
The Regen products to be made under the latest agreement include uniforms and safety vests at the POSCO Gwangyang Steel Plant. It will also be made into a variety of goods by local social enterprises.
Hyosung TNC PU CEO Kim said, "We will take the lead in establishing a system for a virtuous circle of resources by recycling plastics such as waste PET bottles and waste fishing nets in the Gwangyang Bay area. Moreover, we will collaborate with local social enterprises to boost local industrial ecosystem."
Hyosung TNC recently signed an MOU with Yeosu Gwangyang Port Authority to recycle waste fishing nets to produce Mipan Regen Ocean, a recycled nylon fiber. As a company that pursues eco-friendliness, Hyosung TNC is taking the lead in protecting the marine environment by recycling waste fishing nets an