Under a memorandum of understanding with Woosung Platech, Recipe and SK Chemicals, Cosmax will develop a package design suitable for eco-friendly containers. Woosung will produce high-transparent cosmetics containers, while Recipe will develop cosmetics.
"With this agreement, we will build an eco-friendly package ecosystem in the cosmetics industry and increase customer satisfaction," Cosmax CEO Shim Sang-bae said on October 5.
SK Chemicals, a unit of South Korea's third-largest conglomerate SK Group, will supply ECOTRIA, a transparent eco-friendly copolyester brand using PCR materials. Copolyesters form when modifications are made to polyesters. They retain their strength, clarity, and other mechanical properties even when exposed to a variety of chemicals. Copolyester resins have proved to be effective in packaging applications, due to their toughness, versatility and chemical resistance.
In May, SK Chemicals secured a 10 percent stake in Shuye, a Chinese company, to establish a stable base for the production of copolyesters using chemical recycling technology. The company aims to launch its chemical recycling copolyester brand "ECOTRIA CR" that materializes functional characteristics such as transparency and chemical resistance. It can be used for cosmetic containers, blister packaging, and decorative sheets that require high functionality and transparency.
Unlike physical recycling that uses PCR materials by grinding collected PET bottles and other materials into little pieces, chemical recycling breaks down and returns plastic to its pure, raw material form. It is an attractive way to address the explosive growth of plastic waste and disposal problems.
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