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According to Yonhap News,
Chungbuk-do joined hands with Hanwha Corporation/Machinery, Hanwha Solution to build resource circulation economy by recycling waste plastics.
Chungbuk-do announced on August 11 that it signed an MOU on 'project to facilitate the pyrolysis of waste plastics to realize 2050 carbon neutrality' with the two companies.
Oil is produced from the pyrolysis of plastic waste.
It can be recycled as fuel like petroleum, or turned into naphtha, a raw material for plastics, or even eco-friendly hydrogen.
The government plans to increase the pyrolysis of plastic waste from current 10,000 tons per year to 310,000 tons by 2025, and 900,000 tons by 2030.
Accordingly, the two companies pledged to develop leading technologies to realize carbon neutrality in Chungbuk-do.
Chungbuk-do is set to provide administrative support and build cooperative system in the local community when facility investment is made.
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Source:Yonhap News (August 11, 2021)
** This article was translated from Korean.