THE KOREA ECONOMIC DAILY, GLOBAL EDITION

South Korean chemical company SK Chemicals and Yonwoo Co., a subsidiary of Kolmar Korea, which is a leading domestic cosmetic container manufacturer, have signed a memorandum of understanding to develop and commercialize eco-friendly containers using recycled materials, according to the two companies on Monday.

Under the terms of the agreement, SK Chemicals will supply "Eco-tria CR," a chemical recycling material, and "Eco-gen Chloro," which can be recycled into polyethylene terephthalate (PET) after consumer use, while Yonwoo will develop and produce various eco-friendly high-performance cosmetic containers. The two companies will then supply eco-friendly containers to global cosmetic firms.

As the global cosmetic industry seeks to comply with plastic use regulations in various countries, major players such as L’Oreal, Estee Lauder and Chanel are expanding their use of recycled plastic and eco-friendly materials.

“This agreement will allow us to create a sustainable industrial ecosystem and further promote our eco-friendly initiative,” said Yonwoo Co. CEO Park Sang-yong.

“We are committed to expanding the eco-friendly packaging market to meet the needs of global cosmetic companies,” SK Chemicals CEO Ahn Jae-hyun added.

Write to Seo-Woo Jang at suwu@hankyung.com