GS Caltex is expanding an upcycling method that goes further than simply recycling plastic waste and creates new value by mixing materials.

The firm said it plans to increase the production of compounded resin made from recycled plastic waste to streamline resources and reduce carbon emissions. Compound resin is a functional plastic widely used as a raw material for automotive and home appliance parts.

If plastic waste is recycled to produce compounded resin instead of being incinerated, carbon dioxide is expected to be reduced by 6.1 million tons annually -- equivalent to planting 9.3 million pine trees -- according to the oil refiner.

GS Caltex has launched an eco-friendly compounded resin project using plastic waste since 2010. Currently, annual production of eco-friendly compounded resin is 25,000 tons, 2.5 times larger than its initial production and exceeding 10 percent of the total compounded resin production.

President Hur Sae-hong said, “The existing resource-consumption method that relies on mining, use and disposal has faced limitations. An upcycling method is essential as it increases the resource circulation rate and creates new value through efficient use of waste.”

By Shin Ji-hye (shinjh@heraldcorp.com)