NEWS
Kumho Petrochemical Signs MOU with SK geo centric, Tongsuh Petrochemical for 'Establishment of Sustainable Bio Raw Material Supply Chain’
No. 23
Date registered : 2024.02.20
■ KKPC Collaborates with SK geo centric and Tongsuh Petrochemical to Establish a Bio-monomer Supply Network within the Ulsan Industrial Complex
■ Continual Win-win Partnership among Three Companies Built to Secure Business’s Sustainable Growth.
■ CEO Baek Jong-hoon, "We will Promote the Diversification of an Eco-friendly Product Portfolio Based on a Sustainable Bio Raw Material Supply Network"
On the 20th, Kumho Petrochemical (CEO Baek Jong-hoon) announced that the company has signed an MOU with SK geo centric(CEO Na Kyung-soo) and Tongsuh Petrochemical (CEO Chae Jong-kyung) for the establishment of a sustainable bio raw material supply chain. The signing ceremony was on the previous day at Seoul Jongno Tower.
Upon this partnership, Kumho Petrochemical, SK geo centric, and Tongsuh Petrochemical agreed to cooperate in converting monomers AN(acrylonitrile) and BD(butadiene) from the existing raw material supply chain into bio-monomers. Bio monomers are produced from bio naphtha using environmental-friendly raw materials such as canola oil and waste cooking oil. Under this structure, Tongsuh Petrochemical will supply bio AN using SK geo centric's bio propylene as raw material, and SK geo centric will supply bio BD to Kumho Petrochemical respectively.
Through this MOU, Kumho Petrochemical aims to secure a bio-monomer supply chain and plans to expand its environmental-friendly product portfolio by obtaining ISCC PLUS certification for synthetic rubbers(SBR, NBR, HSR, SBL, NBL), as well as synthetic resins(PS, ABS, SAN) within the first quarter of this year. Earlier in last year, Kumho Petrochemical already obtained ISCC PLUS certification on four synthetic rubber items (SSBR, HBR, LBR, NdBR, tire use) manufactured from the Yeosu rubber plant and is expecting to expand to wider range of products this year.
Baek Jong-hoon, CEO of Kumho Petrochemical, stated, "Kumho Petrochemical will accelerate the diversification of its environmentally friendly product portfolio based on a sustainable bio raw material supply chain," adding, "We expect that the areas in which the three companies gathered today can cooperate in the petrochemical industry will further expand."
Meanwhile, Kumho Petrochemical has been strengthening its network for carbon reduction and greenhouse gas emission reduction in the supply chain and sourcing environmentally friendly raw materials by signing an MOU for the supply of bio SM(styrene monomer) with the Japanese oil refining and petrochemical company Idemitsu Kosan in May of last year.
###
No. 232024.02.20
Kumho Petrochemical Signs MOU with SK geo centric, Tongsuh Petrochemical for 'Establishment of Sustainable Bio Raw Material Supply Chain’
No. 232024.02.20
No. 212023.05.17
No. 202023.03.09
No. 192023.03.08
