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

Korea Environment Corporation (KECO) of the Ministry of Environment announced on the 24^th 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	777	685	504	412
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)	1,269	920	701	490
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 5^th year, is evaluated that system is on it stabilization stage.     

Source: http://eng.me.go.kr/board.do?method=view&docSeq=10628&bbsCode=new_news