Prime Minister of South Korea Han Duck-soo, Mayor of Ulsan Kim Doo-gyeom, Vice Chairman & CEO of SK Innovation Kim Jun, and SK Geo Centric CEO Na Kyung-soo were in attendance

SK Geo Centric announced that the company held a ground breaking ceremony for the world’s first integrated waste plastic recycling complex, Ulsan ARC (Advanced Recycling Cluster), located within the 215,000 ㎡ area of SK Innovation’s refining and petrochemical complex Ulsan CLX in Gosa-dong, Nam-gu, Ulsan on Nov 15.

The construction, equivalent in size to 22 international standard soccer pitches, involves a total investment of KRW 1.8 trillion and is scheduled for completion by the end of 2025.

The ceremony was attended by the Prime Minister of South Korea Han Duck-soo, Mayor of Ulsan Kim Doo-gyeom, Member of the National Assembly Park Sung Min, Deputy Minister of the Climate Change and Carbon Neutral Policy Office of the Ministry of Environment Geum Han-seung, Director of the Industrial Policy office of the Ministry of Trade, Industry, and Energy Lee Seung-ryeol, Vice Chairman & CEO of SK Innovation Kim Jun, and SK Geo Centric CEO Na Kyung-soo along with 250 other guests.

South Korean Prime Minister Han Duck-soo said in his congratulatory address, “The circular economy is a new economic order, and plastic is one of the keys to the circular economy transition.” He continued, “The government seeks to build the foundation for a plastic-free society to reduce social costs caused by increased plastic waste and strengthen industrial competitiveness.” He also said, “The government will support the research & development, as well as the industrial development to create an environment for plastics to be recycled as raw materials for the chemical industry, and will be a strong partner for companies taking the lead in building a circular economy.”

Kim Jun, Vice Chairman & CEO of SK Innovation, said in his greeting, “Ulsan ARC is an iconic project of SK Innovation, which is pursuing innovation in business (Green Transformation) that contributes to the environment, and also penetrates sustainability – the core value of SK Group.” He emphasized, “Waste plastic will be reborn as a resource, and Ulsan, South Korea will become the backbone of the future plastic circular economy.”

In his welcome speech, SK Geo Centric CEO Na Kyung-soo said, “SK Geo Centric wants to open a new history in line with the changing needs of the times, such as the challenges facing the chemical industry and the climate crisis.” “Once the Ulsan ARC is completed, approximately 320,000 tons of waste plastic will be produced annually. The Korean chemical industry will leap forward once again based on a new future growth engine – recycled plastic,” he added.