Samyang Corpotation

Samyang Corp. News

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  Samyang Corporation Embarks on Fishing Net Recycling Project to Accelerate Its Eco-Friendly Initiatives -Signed a supply agreement of recycled plastic pellets with a social enterprise “NETSPA” -Transforming waste fishing nets discarded at sea into materials for automotive interior and exterior -Generating 80% less carbon emissions compared to new nylon; plan to constantly expand its eco-friendly product portfolio   ▲ President Kang Ho-sung of Samyang Corporation (left) and CEO Jung Taek-soo of NETSPA (right) signed an agreement of supplying recycled plastic pellets using waste fishing nets on the 26th at Samyang Group headquarters in Jongno-gu, Seoul.       Samyang Group enters into the waste fishing net recycling business to accelerate its ESG management.   Samyang Corporation (President Kang Ho-sung), a food and chemical affiliate of the Samyang Group, announced on the 29th that the company and NETSPA (CEO Jung Taek-soo), a social venture that recycles waste fishing nets, signed an agreement to supply recycled plastic pellets on the 26th at its headquarters located in Jongno-gu, Seoul. Pellets are small particles typically created by compressing an original material. The two companies signed an MOU on the 4th for technical cooperation and joined hands to develop environment-friendly materials using discarded fishing nets.   Under the supply agreement, NETSPA will provide 1,100 tonnes of plastic pellets recycled with waste fishing nets to Samyang Corporation. Samyang Corporation will use these pellets to manufacture plastic compounds (materials with improved properties by adding additives) for automotive interior and exterior parts.  The company has already started to prepare for the supply of plastic compounds to automotive manufacturers both at home and abroad. It plans to further expand its product portfolio to include furniture, appliances, electrical/electronics industries.   Each year, 40,000 tonnes of fishing nets are discarded at sea of Korea, accounting for approximately 10% of the total marine waste. Known as the main culprit for severe marine pollution, waste fishing nets threaten marine life and damage the habitats of coral reefs. However, only a small amount of fishing nets is being collected due to the low economic value of collecting and recycling them. Samyang Corporation intends to collect waste fishing nets and recycle them into materials for automotive interior and exterior materials with the aim of achieving both eco-friendliness and high performance.   A variety of synthetic fibers such as nylon, polypropylene, and polyethylene are used for making fishing nets. Among them, nylon is the most commonly used plastic material for the textile and automobile industries. Producing nylon with recycled fishing nets reduces approximately 3.68 kg of carbon emissions per 1 kg of discarded fishing nets, contributing to about 80% less carbon emissions compared to producing new nylon.   President Kang of Samyang Corporation commented, “This supply agreement is meaningful in that the company expands its eco-friendly project portfolio to include recycling business following the development of biomaterial,” and added, “We will continue to develop eco-friendly products and technologies to fulfill ESG management.”   Samyang Group is focusing on a group-wide development of eco-friendly materials. For instance, it has developed “isosorbide,” a biodegradable material extracted from corn and other plants, for the first time in Korea and applied it as adhesive for motor cores, urethane, etc. as a replacement for existing petroleum-based chemicals. Samyang Packaging invested KRW 43 billion to introduce PET recycling facilities, and Samyang Corporation was selected as the project leader for a Biomass-Derived Biodegradable Polycarbonates (PCs) and Automotive Parts Development supervised by the Ministry of Trade, Industry and Energy in April, 2020. It has worked on the development of biodegradable PCs and wide application for automotive parts.   NETSPA is a marine social venture that recycles marine debris such as waste fishing nets into long fibers for clothes, automotive parts, and electronic components. It has equipped itself with technologies and automated facilities that sort out high-quality nylons from mass volume from waste fishing nets made of a variety of synthetic fibers such as nylon, polypropylene, and polyethylene. NETSPA currently operates a plant with the capacity of recycling approximately 4,000 tonnes of waste fishing nets per year in Busan. Details

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  Samyang Corporation’s mass production of eco-friendly, toxic substance-free, transparent flame retardant polycarbonate is in full swing - Eco-friendly and maintaining transparency and properties of common PC. Highest grade in UL 94 vertical burning test (V-0) - Developed based on Si-PC with excellent shock and chemical resistance at low temperatures, overcoming weaknesses of previous flame retardant PC - Targeting electrical/electronic, automotive, architecture and other outdoor markets in need of both low-temperature shock resistance and flame retardancy - Possible to be processed in thin films such as sheets and profiles, planning to expand market by supplying base resin to compounder companies   ▲ Eco-friendly and transparent flame retardant PC resin developed by Samyang Corporation and a transparent panel thinly processed by using this resin.     Samyang Corporation aims to achieve eco-friendliness and high performance by developing environment-friendly, transparent flame retardant polycarbonate (PC). PC is a type of engineered plastic typically used in interior and exterior materials of cars and home appliances, as well as soundproof walls, parts in medical devices, etc. as it is transparent and strong against shock and heat.   Samyang Corporation (Head: Kang Ho-sung), a chemical and food division of Samyang Group, announced on the 20th that it has successfully developed eco-friendly and transparent flame retardant PC, free of toxic substances, and established a full-fledged mass production system. The eco-friendly and transparent flame retardant PC will be manufactured at Jeonju EP Plant of Samyang Corporation and Jeonju Plant of Samyang Kasei.   Flame retardant PC is necessary in products that generate heat or are vulnerable to fire. Materials vulnerable to fire may lead to greater damages such as secondary fire and toxic gases, so home appliances, interior and exterior materials in cars, construction materials, helmets, etc. assure safety by using flame retardant materials.   Typically, a flame retardant substance is added to produce a transparent flame retardant PC, but this reduces transparency and impact strength, which are the strengths of PC. The environmental pollution caused by the substance is another issue. Halogen substances such as chlorine and bromine, which are also flame retardant substances, generate toxic gases when burned. In the past, non-halogen substances were regarded as an alternative but, in recent years, these too have been the center of a controversy with respect to their harmful effects.   Samyang Corporation’s eco-friendly and transparent flame retardant PC was developed based on silicone PC (Si-PC) that the company had localized in 2012 by changing the substance bonding structure without adding any flame retardant materials. Thus, it shows more outstanding impact strength and chemical resistance at low temperatures than typical PC.   It has also satisfied “V-0” standard, which is the highest grade in the “UL 94” vertical burning test. UL 94 is a plastics flammability standard developed by “UL (Underwriters Laboratories)” in America, a safety standard development and authorization agency, and V-0 grade is given only to the plastics on which burning stops within 10 seconds of setting a vertically placed specimen on fire.   With its superior shock resistance, chemical resistance and transparency at low temperatures compared to existing kinds of transparent flame retardant PC, Samyang Corporation plans to target all markets in need of aforementioned properties, including electricity and electronics, automotive, outdoor lighting and displays, electric vehicle charging stations, exterior materials of airplanes, interior and exterior materials of buildings, and medical devices.   In addition, it maintains similar mechanical properties as the common PC even if it is processed in thin films, including sheets and profiles, of about 1mm in thickness, which enables it to be utilized not only for functional packaging materials but also in many other industries that require transparency and flame retardancy.   For the expansion of the eco-friendly, flame retardant PC market, Samyang Corporation will provide it in the form of base resins (plastics constituted of single materials) to other chemical corporations. The chemical companies supplied with the base resins will be able to manufacture and sell compounds (products with improved properties by mixing base resins with additives) according to the features needed by final products in construction, automotive and aviation industries.   A representative of Samyang Corporation stated, “Samyang Corporation’s eco-friendly and transparent flame retardant PC does not use any toxic flame retardant substances so it is free of environmental issues while maintaining the strengths of common PC that can be processed in a transparent and thin manner. Because it is developed based on silicone PC with great shock resistance at low temperatures, it may be used in a variety of applications, including building exterior materials and outdoor lighting.”   Details

• About Samyang Corp.Samyang pursues the vision of producing ?쏧ngredients that Add Value to Life??and endeavors to create a new future and a new Samyang.
• Corporate Social Responsibility ActivitiesOver its long history, Samyang Group has conducted diverse corporate social responsibility activities such as helping our neighbors, protecting the environment, contributing to the development of communities...
• IR InformationThis is financial information on Samyang Corp.

chemical

• Engineering Plastics Engineering Plastics more Engineering plastics are used as sophisticated materials for automotive, electrical/electronic, and machine parts.
• Ion Exchange Resins Ion Exchange Resins Detail Samyang Corp. is the only domestic maker and seller of ion exchange resins.
• EMS EMS more EMS provides the sevrvice related to the development of materials for displays, semiconductors, and IT

foodstuff