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South Korean cable manufacturer LS Cable & System [229640:KS] will launch an online platform called On Drum to recycle wooden cable drums, as reported by the Korea Economic Daily on July 4. Wooden cable drums used for cable storage and transportation are typically discarded after one usage. On Drum digitizes and systemizes the recycling process for waste reduction and resource rotation, enabling the sharing of information on used cable drums and the sale of repaired and repackaged drums. In addition to the new platform, LS Cable & System also inked a memorandum of understanding (MoU) on July 1 with Korea Hydro & Nuclear Power (KHNP) [119089Z:KS] to recycle and reuse wooden cable drums from KHNP’s construction sites.
As a country with a relatively small landmass, South Korea has a shortage of space for landfills, making the disposal and treatment of waste a challenge for the country. To mitigate waste generation and improve environmental performance, corporations like LS Cable & System are increasingly launching corporate recycling initiatives. In December 2020, South Korean company Lotte Chemicals [011170:KS] introduced “Project Loop” to turn recyclable bottles into bags, shoes, clothes, and other products. One of the country’s largest home appliance makers LG Electronics [066570:KS] also utilizes recycled plastic waste from used cars and home appliances for around 30% of the plastic in its TVs and soundbars.
Sources:
https://www.kedglobal.com/esg/newsView/ked202207040013
https://news.skhynix.com.cn/esg-a-new-perspective-for-companies-how-far-has-sk-hynix-come/
https://www.nytimes.com/2022/05/21/business/south-korea-recycling.html
https://asiasociety.org/korea/road-plastic-free-society-koreas-fight-against-plastic-waste
https://www.kedglobal.com/plastic-recycling/newsView/ked202109270004
