Alongside Daeho Industries, the companies will consider the potential of building and operating a pyrolysis oil factory to create a circular economy that makes use of waste tires.

SK Energy and SK Networks will partner with recapped tire producer Daeho Industries to establish a low-carbon circular system that makes use of waste tires. On April 15, the three companies made a business agreement at Daeho Industries’ factory to push ahead with the waste tire pyrolysis business. 

According to the agreement, the three parties will review the measures to improve the collection and supply system of waste tires in South Korea, and assess the feasibility of the pyrolysis process that creates carbon black and pyrolysis oil.

“I am pleased to discuss measures to create a circular economy for recycling waste tires in the country with Daeho Industries, the leading company for recapped tires in Korea. I hope that this business cooperation will serve as the chance to secure business opportunities for pyrolysis oil from waste tires and eco-friendly products. Also, I hope that we will contribute to accomplishing SK’s goal of Net Zero,”  said Hong Jeong-eui, Head of Net Zero Office, SK Energy

Currently, South Korea sees about 380,000 tons of waste tires (about 30 million tires) every year, and most of them are processed as industrial solid-state fuel, while some are incinerated and reused as fillers and recapped tires. However, natural rubber, which is one of the main ingredients of waste tires, is recognized as a biogenic resource. This means the companies can create additional values by producing eco-friendly products out of this main ingredient recycled from the waste tires. 

The three companies will check the potential of the establishment and operation of a pyrolysis oil plant in consideration of the growth prospect of a circular economy utilising the waste tires. Moreover, they plan to look further into several other measures to use the pyrolysis oil and the recovered carbon black (rCB) that are produced from pyrolyzing the waste tires.

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