SK Geo Centric, a company dedicated to becoming the global leader in recycling materials, is expanding its influence in the circular economy sector on a global scale.
In a significant development, CEO Na Kyung-soo of SK Geo Centric was formally invited to attend the Choose France Summit 2023, which was hosted by the French government at the prestigious Palace of Versailles on May 15 (local time). During the summit, he had the opportunity to meet with influential political figures and business leaders, including the President of France, Emmanuel Macron, as well as CEOs from prominent global companies.
The Choose France Summit serves as a platform for the French government to attract investments and stimulate the economy by inviting CEOs of prestigious foreign companies to France. The summit has been an annual event since 2018. This year, it witnessed the participation of approximately 270 representatives from major global companies across more than 40 countries, including renowned names like Coca-Cola Company, Pfizer, and Toyota Motor Corporation.
During the summit, CEO Na engaged in discussions regarding potential collaborations with CEOs from global partner companies who are collectively establishing plastic recycling plants. He also took the opportunity to introduce SK Geo Centric's plastic recycling business to influential French political and business figures, seeking their ongoing cooperation and support.
SK Geo Centric has been actively engaging with French companies, furthering its entry into global markets, particularly in Europe. In the previous year, the company signed a business agreement with SUEZ, a French company specializing in circular solutions for water and waste management, and Loop Industries, a Canadian firm with core recycling technologies.
The collaboration aims to establish a joint venture and construct a plastic recycling plant in Europe. With an investment of approximately EUR 450 million (around KRW 620 billion), the recycling plant, slated for completion by 2027, will have a processing capacity of about 70,000 tons per year. The plant will be located in the Saint-Avold region of northern France.
Furthermore, in 2019, SK Geo Centric made a significant acquisition by purchasing the high-performance polymer business from Arkema, a leading petrochemical company in the French polymer industry. The acquisition, worth EUR 335 million (approximately KRW 440 billion), allows SK Geo Centric to expand its presence in various fields utilizing high-performance polymers, including packaging and adhesive materials.
“Through this event, we could actively push forward with expanding interactions with Europe, including France, and promote SK Geo Centric’s contribution to solving the plastic waste problem.” said SK Geo Centric’s CEO Na Kyung-soo. “We will make the most of SK Geo Centric’s experiences and technologies in building a global circular economy.”
