Korea Zinc and LG Chem collaborate for business opportunities in the US recycling market

Seoul, March 15 (IANS) Korea Zinc, South Korea’s leading nonferrous metal processing firm, has announced a partnership with chemical company LG Chem Ltd to explore opportunities in the used plastics recycling market in the United States. The collaboration aims to leverage their respective technologies in e-waste processing and used plastics recycling to secure projects in the US.

According to a statement released by Korea Zinc, the company has signed a memorandum of understanding with LG Chem to pursue used plastics recycling projects in the US. This initiative builds on Korea Zinc’s recent acquisition of IGNEO Holdings, a U.S. e-waste recycling firm, through its subsidiary Pedalpoint Holdings in 2022.

In addition to e-waste recycling, Korea Zinc is also broadening its scope in the US market by venturing into the recycling of used cars, used electric vehicle batteries, and abandoned solar panels. This move underscores the company’s commitment to sustainability and environmental conservation through innovative recycling practices.

As part of its strategic expansion into the US recycling market, Korea Zinc’s collaboration with LG Chem reflects a broader industry trend towards sustainable waste management and circular economy initiatives. By combining their expertise in e-waste processing and used plastics recycling, the two companies aim to make a meaningful impact in reducing environmental footprint and promoting a more sustainable future.

This partnership signals a significant step towards advancing recycling technologies and creating new business opportunities in the United States. With a focus on innovation and sustainability, Korea Zinc and LG Chem are poised to contribute to the global efforts in waste reduction and resource conservation through their joint initiatives in the used plastics recycling market.