LG Chem said on Tuesday that it will be collaborating with South Korean startup Innerbottle in plastic recycling.
The pair will build what they call a Plastic Eco-Platform, in which plastic made by LG Chem and bottle by Innerbottle will be collected by a distributor to be reused in the same way by the two companies.
Innerbottle will be supplying its packaging solution. The company has around 50 related IP in South Korea and abroad.
The pair will apply their platform to a bottle made by Innerbottle for a cosmetic product first. Then they will apply it to bottles used in different sectors.
LG Chem said around 15 billion plastic bottles used for cosmetics around the world are thrown away. Being able to recycle 10% of this will reduce carbon emission by 75,000 metric tonnes per year, the firm said.