SK Chemicals Co., the chemical and pharmaceutical arm of the SK Group, announced on Monday that it will collaborate with Huvis Corp., a local chemicals and fibre materials company, to develop chemical-recycled polyester yarn for the first time in South Korea.

The two companies plan to release chemical-recycled high-end polyester yarn under the brand name ECOEVER CR by the third quarter of this year, using their respective strengths in polyester and yarn manufacturing technology.

SK Chemicals will create and supply chemically recycled PET (CR PET), while Huvis will make polyester yarn products from the recycled materials, according to the terms of the agreement.

When compared to physically recycled materials, the materials formed through this method contain fewer fine foreign particles. Chemical recycling is the process of converting waste plastics and clothing into pure raw materials in order to produce high molecular polymers.

Thread makers may now generate more durable and consistently coloured products thanks to recycling technology. Through an equity investment in a Chinese business with waste plastic (PET) recycling technology, SK Chemicals gained exclusive rights for chemically recycled material and PET-related products in May.