- Signed a $100 million asset purchase agreement with Shuye of China; secured 
the world's first mass production system for recycled raw materials and PET

- The abundant supply of recycled plastic raw materials enables SK chemicals to 
have the highest level of price competitiveness

SK chemicals accelerates its entry into the global market and business 
expansion with the world's first chemically recycled BHET (r-BHET) of 70,000MT 
and chemically recycled PET (CR-PET) of 50,000MT production systems.

SK chemicals announced on the 6th that it held a board of directors meeting and 
signed an asset transfer agreement related to the chemically recycled BHET and 
chemically recycled PET business division of Shuye, a Chinese company 
specializing in green materials. The acquisition price for this deal is 
approximately $100 million.

SK chemicals' acquisition of Shuye's assets includes a depolymerization plant 
that chemically decomposes waste plastics to produce recycled BHET and a CR-PET 
production facility that uses the r-BHET produced here to make PET again, which 
can be sold separately. As a result, SK chemicals has secured the world's first 
commercially available polyester chemically recycled raw materials and 
production facility, which can be sold separately.

Through the acquisition of Shuye's assets, SK chemicals has obtained a 
commercial production system for chemically recycled BHET and products that 
utilize depolymerization technology about 1-2 years ahead of other domestic 
companies. By producing recycled plastic raw materials such as waste PET in 
China, where there is abundant supply, SK chemicals is expected to gain a high 
level of price competitiveness.

Through this investment, SK chemicals has completed a recycled plastic value 
chain that extends to chemically recycled BHET, chemically recycled PET, and 
chemically recycled copolyester (CR-Copolyester), securing the sustainability 
of copolyester, which is its core business, and laying the groundwork for new 
growth.

SK chemicals' strategy is to supply chemically recycled PET to the domestic and 
foreign food and beverage bottle markets, as well as the food packaging market. 
In addition, the company plans to enter high-value-added markets, such as 
industrial specialty fibers, where the use of physically recycled PET is 
difficult, and take the lead in the global $7.6 billion market. The company 
also plans to sell the chemically recycled BHET as a standalone product to 
polyester manufacturers who want to produce recycled products.


SOURCE  SK Chemicals