[Press Release] LOTTE Chemical Signs MOU with SPC Pack to Cooperate in Developing Low Carbon Eco-friendly Packaging Materials


LOTTE Chemical Signs MOU with SPC Pack to Cooperate in Developing Low Carbon Eco-friendly Packaging Materials

The presidents of the two companies pose for a photo at the MOU ceremony at the Seoul Jamsil LOTTE World tower.
(From left to right, LOTTE Chemical Basic Materials Business President Jin-koo Hwang, SPC Pack President Chang-Dae Kim)

█ Pursue development of food container applying LOTTE Chemical’s Bio-PET manufacturing using sugar canes...Reduces 28% of carbon dioxide compared to existing petroleum PET
█ Pursuing higher degree of package container R&D and application using sustainable materials through cooperation between the two companies

LOTTE Chemical and SPC Group’s packaging production subsidiary, SPC Pack announced on the 12th that it held the ‘Low Carbon Eco-friendly Packaging Project Partnership Construction MOU Ceremony.’

LOTTE Chemical, which is Korea’s largest Bio-PET production company, and SPC Pack, which has been manufacturing various food packaging materials such as for Paris Baguette, Baskin Robins, and SPC Samlip, signed a work MOU at the Jamsil LOTTE Tower on the 11th and agreed to utilize the strength and knowhow of each party to jointly develop eco-friendly packaging materials.

The Bio-PET packaging container being developed through this agreement uses sugar canes as raw materials to reduce carbon dioxide by 28% compared to existing petroleum-based PET during the manufacturing, transportation and incineration process, and it is 100% recyclable. The Bio-PET produced by LOTTE Chemical was recognized for its carbon emissions mitigation effect in its entire process of raw material production, distribution and discarding, thereby receiving the Environmental Product Declaration certificate from the Korea Environmental Industry & Technology Institute under the Ministry of Environment in March of this year.

LOTTE Chemical and SPC Pack plan to apply Bio-PET in various beverage cups and salad containers through collaboration to continue to lead the eco-friendly package trends.

LOTTE Chemical Basic Materials Business President Jin-koo Hwang said, “We plan to expand our eco-friendly product portfolio that will satisfy consumer needs and market trends,” and added, “We will actively cooperate with the development of SPC’s eco-friendly packaging containers through stable Bio-PET materials supply and technology support.”

SPC Pack President Chang-Dae Kim said, “As part of our ESG management, we are collaborating with LOTTE Chemical to realize a plastic circulating economy and to reduce carbon emissions,” and added, “We will continue to not only produce various eco-friendly packaging materials including Bio-PET, but also consumer eco-friendly functional packaging material R&D.”

In February, LOTTE Group’s Chemical BU implemented the 『Green Promise 2030』 Initiative and is assertively pursuing ESG management activities to achieve its goals of 6 trillion KRW in eco-friendly business revenue and carbon-neutral growth. With ‘responsible consumption’ recently becoming a new trend, LOTTE Chemical plans to accelerate efforts to expand its eco-friendly business portfolio such as Bio-PET and renewable materials, as well as to realize carbon-neutrality such as procuring greenhouse gas emissions mitigation technologies, energy efficiency, etc.