SKC to develop biodegradable eco-friendly paint containers
Hyung-Kyu Kim
Jan 24, 2024 (Gmt+09:00)
SK TBMGeoStone, a subsidiary of South Korea's SKC Ltd. for the investment of biodegradable material, plans to enter the eco-friendly container market.
SK TBMGeoStone, Samhwa Paint Industrial Co., and the domestic container company P&B signed a biodegradable eco-friendly Paint container business agreement on Monday.
Under the agreement, the three companies will collaborate on the application and sale of eco-friendly paint containers, the development and supply of eco-friendly materials optimized for paint containers, and the development and manufacturing of paint containers.
Conventional plastic containers do not completely decompose when landfilled or incinerated, but containers made from biodegradable materials decompose over 90% within six months after composting.
The domestic paint market is estimated to be around 4 trillion won ($2.98 billion) annually.