SK chemicals' Video Featuring Circular Recycling Technology Wins Gold Medal at "2024 International Business Awards"

-- Award-winning Video Showcases Vision and Solutions in Circular Recycling Business -- Acclaimed for "Effectively Presenting SK chemicals' Innovative Recycling Solution" SEONGNAM, South Korea, Oct. 25, 2024 /PRNewswire/ -- SK chemicals' video showcasing its proprietary Circular Recycling technology has received high acclaim at an international competition.

SK chemicals (CEO & President: Ahn Jae-hyun) announced on 25th that its video "SK chemicals Closed Loop Solution in 2024 Chinaplas" won the Gold Medal in the video category at the "2024 International Business Awards (2024 IBA)."

The IBA is the only global competition in the business sector that evaluates companies and organizations worldwide across 15 categories, including management, growth, and promotional activities conducted over a year. Organized by the U.S.-based Stevie Awards company since 2003, it is also known as the "Stevie Awards."

The 2024 IBA received over 3,600 entries from 62 countries, with SK chemicals winning the Gold Medal in the technology segment of the video category.

"SK chemicals Closed Loop Solution" is a video content showcasing the plastic circular recycling technology and vision that SK chemicals unveiled at Chinaplas held in Shanghai last April.

The video intuitively illustrates the process of transforming waste plastics, previously destined for landfills or incineration, into products identical to petroleum-based plastics through a collection, crushing, washing, depolymerization, and polymerization process. It then shows how these materials are used to create various products, including home appliances and food and beverage containers.

The video also clearly demonstrates the advantages of depolymerization-based circular recycling technology, which, unlike physical recycling limited to clean and transparent PET, can restore films, colored PET, and fibers to a quality equivalent to new products. It also presents a blueprint for establishing a new concept of a Closed-Loop system that reduces waste by using circular recycling technology to transform automotive and home appliance parts back into their original components and clothing back into new garments.

Regarding "SK chemicals Closed Loop Solution," a 2024 IBA judge praised, "It effectively conveys the company's innovative circular recycling solution through high-quality animation." The judge also mentioned that the content clearly captures SK chemicals' vision to expand its recycling business.

Kim Hyoun-dong, Head of Communications at SK chemicals, stated, "We focused on explaining the somewhat unfamiliar circular recycling business in an accessible manner to inform customers and plastic users about the necessity of products incorporating circular recycling technology." He added, "We will continue our efforts to expand the scope of the recycling business while also raising awareness to engage all stakeholders in addressing plastic-related issues."

The video (SK chemicals Closed Loop Solution in 2024 Chinaplas) is available on SK chemicals' official YouTube channel.

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CONTACT: Sooryeon Moon, moonsr@sk.com