Hanwha Solutions signs MOU with 7 companies for bio PVC biz

Hanwha Solutions Corp., a South Korean petrochemical company, is partnering with domestic polyvinyl chloride (PVC) companies to promote the commercialization of bio PVC.

Hanwha Solutions has signed on Thursday a "business agreement for cooperation in bio PVC projects for carbon reduction" with seven PVC processing companies including Dongshin Polymer, Dury Chemical, HDC Hyundai Engineering Plastics, Wonpoong Co., Jeil Wallpaper, TSC Construction & Chemical and Powerlab.

Under the agreement, Hanwha Solutions and each processing company will produce products such as flooring, wallpaper, pipes, tarpaulins (waterproof sheets) and wraps that use bio PVC for the first time in Korea.

Starting this month, Hanwha Solutions plans to produce bio PVC at its Ulsan and Yeosu plants and supply it to each company.

Previously, Hanwha Solutions obtained the ISCC Plus sustainability certification for the production and processing of bio PVC-based products last year.

PVC is a representative plastic material mainly used for building materials.

Bio PVC is environmentally friendly because it uses plant-based raw materials instead of fossil fuels, resulting in less carbon emission during the production process, and it can also recycle waste cooking oil.

Write to Hyung-Kyu Kim at khk@hankyung.com