Public Procurement Service (PPS) Administrator Baek Seung-bo, right, checks facilities that regenerate naphtha and refined oil from waste plastics at City Oil Field in Jeongeup, North Jeolla Province, Thursday. Courtesy of PPS
The Public Procurement Service (PPS) is supporting nationwide efforts to develop resource recovery technologies to help secure a stable supply of raw materials, the state-run procurement agency said Friday.
PPS Administrator Baek Seung-bo visited City Oil Field in Jeongeup, North Jeolla Province, Thursday, a company that specializes in producing petrochemical feedstock by decomposing waste plastics, to explore ways to expand sales channels and secure stable raw materials through public procurement.
The visit was aimed at strengthening domestic alternative supply chains through waste resource recycling and supporting stable market access for innovative enterprises, especially as geopolitical instability in the Middle East increases the price volatility of imported raw materials.
City Oil Field’s plant uses low-temperature pyrolysis to regenerate naphtha and refined oil from waste plastics. By reducing import dependency, the facility enhances production stability and eases the cost burdens for businesses amid global supply disruptions.
PPS plans to provide active support to ensure that the recycling plant — designated as an innovative product in 2022 — gains market competitiveness and is prioritized for use by public institutions.
“Securing a domestic alternative supply chain for raw materials is crucial for public safety and sustainable business operations. We will actively support innovative resource technologies so that our companies can secure stable markets and continue to grow," Baek said.
Source: Korea Times News
