Monday, July 30, 2012

S. Korean Updates: 183.4 billion won to be saved from 2011 plastic waste recovery & recycling agreement

MINISTRY OF ENVIRONMENT REPUBLIC OF KOREAKorea Environment Corporation (KECO) of the Ministry of Environment announced on the 24th the outcome of voluntary agreement on plastic waste recovery & recycling in 2011. It was shown that over 180 thousand tons of plastic wastes were recycled resulting in economic benefits of 183.4 billion won.  

The agreement is for manufacturers and importers of plastic products and packaging materials to voluntarily conclude an agreement with the Ministry and receive exemption on waste disposal charge.

Based on the progress report by KECO, 183.4 billion won was saved in total, consisting of 48.4 billion won in landfill & incineration treatment and 135 billion won by recovering and recycling plastic wastes which have recyclable value and can be distributed and sold.

Economic burden on the companies were also lightened by exempting 47.9 billion won of waste disposal charge.

The effect equals to exporting 11,835 of vehicles, based on the average unit price of vehicles in the first half of 2011.

When calculated by applying employment inducement coefficient, about 1,269 of job creation is possible contributing in creation of green jobs.   

In addition, waste plastics which have been buried and incinerated were recycled and 202,357 tons of greenhouse gases were reduced.

Year 2011
Year 2010
Year 2009
Year 2008
Number of businesses under agreement
Amount recycled (ton)
179 thousand
145 thousand
105 thousand
69 thousand
Saved landfill/incineration treatment cost (won)
48.4 billion
39.2 billion
27.5 billion
18.9 billion
Economic value of recycled wastes (won)
135 billion
107 billion
81.6 billion
57 billion
Job creation (person)
Exempted waste disposal charge (won)
47.9 billion
42 billion
14 billion
10 billion
Reduced greenhouse gas (ton)
202 thousand CO2
167 thousand CO2
111 thousand CO2
24 thousand CO2

As shown from the outcomes including creation of economic befit, mitigation of companies’ burden and reduction of greenhouse gases, voluntary agreement on recovery & recycling of plastic wastes, in its 5th year, is evaluated that system is on it stabilization stage.     

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