PET Bottle Prices Rise as Korean Companies Go Green

South Korea: South Korea's young, environmentally conscious consumers are turning to clothes made from recycled plastic water bottles as an eco-friendly and value-based option, causing the prices of used PET bottles to soar. The cost per kilogram hit 472 won in February 2021, a 14 percent rise from 412 won in 2020. Additionally, the amount of recycled PET bottles has expanded dramatically over the past decade - total production rose to 267,991 tons this year compared to 160,000 just ten years ago.

BYN BLACKYAK Co., a Korean manufacturer of high-functional outdoor clothing, is leading the charge when it comes to using recycled PET bottles to make clothes. In July 2020, they became the first industry player in the country to release T-shirts made from discarded PET bottles. To do this, BLACKYAK signed a business agreement with Korean synthetic fiber manufacturer TK Chemical Corp., who helped them produce synthetic fibers for their clothing. Since then, the brand has managed to process an impressive 63 million 500-milliliter plastic bottles into sustainable fashion pieces.

BLACKYAK is taking big steps towards a circular economy and protecting the environment by sourcing PET bottles from local governments, conglomerates and using them to supply uniforms for Emart Inc., Coca-Cola Beverage Co. in Korea, McDonald’s Korea and SK gas Co. Lotte Chemical Corp. also made strides in September last year when they became the first company in South Korea to launch commercial production of synthetic resin for home appliances and car headlights from recycled plastic waste. These initiatives are paving the way for a more sustainable future and inspiring other companies to follow their lead.