PPS supports resource recycling in hopes to stabilize raw material supply

South Korea's Public Procurement Service said Thursday it visited local waste recycling company City Oil Field to explore ways to expand public procurement channels and strengthen domestic raw material supply chains.

City Oil Field specializes in producing petrochemical feedstocks by recycling waste plastics.

The visit comes as volatility in imported raw material prices — driven by geopolitical tensions in the Middle East — underscores the need to diversify sources. The PPS said it aimed to support alternative domestic supply chains by promoting resource recycling and improving market access for innovative firms.

City Oil Field operates a low-temperature pyrolysis facility that converts waste plastics into naphtha and refined oil, helping reduce reliance on imports while stabilizing production and lowering costs amid global supply disruptions.

The PPS said it would provide policy support to enhance the competitiveness of the plant, which was designated an innovative product in 2022, and promote its adoption by public institutions.

Separately, representatives from Australia-based Simba Global visited the facility to assess its technology and competitiveness.

“Securing alternative domestic supply chains is critical for both public safety and sustainable business operations,” said Baek Seung-bo, administrator of the Public Procurement Service. “We will continue to support innovative resource technologies to help companies secure stable markets and sustain growth.”