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According to The Korea Economic Daily Global Edition,
South Korea's CJ HDC Biosol on Thursday said it held a completion ceremony for its biodegradable material compounding plant at Gwanghyewon Industrial Complex in Jincheon County, North Chungcheong Province.
The company is a joint venture launched in February last year by CJ CheilJedang Corp. and Korea's top polymer compounding maker HDC Hyundai Engineering Plastics.
Compounding is the mixing two or more plastic materials to produce a plastic customized for a purpose.
The newly finished plant cost 24 billion won ($19.4 million) to build with a combined floor area of 12,060 square meters.
Its output capacity is 11,000 tons of biodegradable materials per year using the marine biodegradable plastic material aPHA produced by CJ CheilJedang, industrial biodegradable material PLA, soil biodegradable material PBAT and cellulose mass.
CJ HDC Biosol will expand the market for eco-friendly material compounding with the Jincheon plant as its base.
The company will develop and make biodegradable materials for use in a range of fields from packaging for household goods and cosmetic containers to automotive parts.
The global market for biodegradable plastics is expected to see exponential growth from 5 trillion won in 2021 to 16 trillion won in 2025.
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Write to Soo-Jung Ha at agatha77@hankyung.com
Source: The Korea Economic Daily Global Edition (Jan. 20, 2023)