Samhwa Paint Signs Chemical Recycling Product Supply Agreement with LG Chem

by Choi Donghyeon

Published 09 Aug.2023 08:44(KST)

Ryu Ki-bung, CEO of Samhwa Paint (right), and Song Byung-geun, Head of LG Chem Acrylic Division, are signing a business agreement.

Samwha Paint Industrial announced on the 9th that it has signed an agreement with LG Chem to supply chemically recycled products.

The signing ceremony was held the previous day at the LG Twin Towers in Yeongdeungpo-gu, Seoul. Key officials including Ryu Ki-bung, CEO of Samwha Paint, and Song Byung-geun, Head of the Acrylic Business Division at LG Chem, attended the event.

Through this agreement, both companies will mutually cooperate in comprehensive business areas including the development of chemically recycled raw materials, application of eco-friendly products, and joint marketing to build a resource-circulating society. LG Chem will supply chemically recycled materials based on pyrolysis oil from waste plastics to Samwha Paint, which will use them to produce coatings for mobile devices. Samwha Paint plans to apply these coatings to mobile products after obtaining the Environmental Claim Validation (ECV) eco-friendly certification from UL, a U.S. safety standards certification organization.

A representative from Samwha Paint stated, “As global interest in eco-friendliness increases and regulations related to plastic waste are strengthened, demand for recycled products is expected to gradually rise. We will actively cooperate with LG Chem to promote resource circulation.”