THE WHAT? LG Chem has teamed up with Korean start-up Innerbottle to set up an eco-platform that fully recycles cosmetics containers – a move it has described as an ‘unprecedented’ ESG business model.
THE DETAILS The system is designed to be entirely circular, covering eco-plastic production, manufacturing of packaging solutions and collection after use and recycling.
Innerbottle has designed a cosmetic container with an embedded balloon-shaped silicon pouch inside a transparent plastic bottle, which enables the immediate recycling of the outer bottle without additional cleaning. LG Chem plans to conduct joint research to replace Innerbottle’s silicon pouch with NB Latex.
The partnership will kick off in the cosmetics arena and roll out to food and medicine packaging in due course.
THE WHY? Sung Woo Hur, Executive Vice President and Group Leader of Petrochemical Global Business Development at LG Chem, explains, “It is meaningful that a global conglomerate and a start-up are working together to create the world’s first plastic resource circulation platform which can potentially be market pioneers within the global ESG mega trend and create sustainable growth. LG Chem will work towards building an eco-friendly petrochemical business, which can sustain together with the environment.”