From left: GS Caltex President Hur Sae-hong, Yeosu mayor Jeong Gi-myeong and vice chairman of LG Chem Shin Hak-cheol pose for a photo at GS Caltex Yeosu plant on Thursday. (LG Chem)
LG Chem and GS Caltex on Thursday held a ground-breaking ceremony at GS Caltex Yeosu plant for its new bio-material demonstration plant, which would contribute to building a white ecosystem, officials said.
The demo plant at GS Caltex‘s Yeosu complex will mainly produce 3-Hydroxypropionic acid prototypes, key raw material in the production of biodegradable plastics.
The construction is set to be finished by 2023, after which both companies will produce various 3HP prototypes to accelerate their entry into the biodegradable materials market.
The two companies are planning to collaborate to further advance the white bio industry, which aims to replace the current materials used in the chemical industry with renewable resources such as microorganisms and enzymes.
“It is very meaningful that highly recognized oil and chemical companies in South Korea have joined hands for a sustainable future. We will continue to strengthen the cooperation between the two companies in the white bio sector,” said Shin Hak-cheol, vice chairman of LG Chem.
”GS Caltex will strive to strengthen ESG capabilities through research and development in the white bio business, and aim to achieve a sustainable bio-ecosystem with optimization of resource usage and the establishment of a circular economy,” added Hur Sae-hong, president of GS Caltex.