Bio
Bioplastics
Aligned with the global surge towards ESG values, there's a growing demand for bioplastics and recycled plastics. We are at the forefront of the eco-friendly materials sector, cementing our role as a bioplastics distributor. Expanding sales of biodegradable bioplastics like PBAT and PLA*, we're also striving to secure stable sources of biomass like corn and sugarcane, which are the raw materials for bioplastics. Our goal is to achieve a 70% share of eco-friendly business by 2035, encompassing bioplastics, recycled plastics, blue/green ammonia, etc., thus fortifying our position as a leader in the eco-friendly future materials domain within the POSCO Group, while building a robust value chain across the bio industry for sustainable growth.
* PBAT, PLA (Poly Butylene Adipate Terephthalate, Poly Lactic Acid): Biodegradable bioplastics
Sustainable Aviation Fuel (SAF)
With the recent announcement of Net Zero 2050 by the aviation sector, we are paying attention to Sustainable Aviation Fuel (SAF) to curb carbon emissions from airline operations. Derived from sustainable sources like animal and vegetable oils, used cooking oil, domestic waste, and by-products, SAF slashes carbon dioxide emissions by up to 80%. With CORSIA mandated by ICAO, 115 countries, including Korea, are slated for mandatory reduction plans from 2027.
Recognizing the significance of a stable raw material supply for SAF market growth, we're bolstering our eco-friendly raw material supply system. Leveraging existing plantation assets and a global trading network, we aim to cement our position as a supplier of eco-friendly raw materials, and expand the SAF production and sales value chain by fostering collaborations with diverse partners domestically and abroad.
Recognizing the significance of a stable raw material supply for SAF market growth, we're bolstering our eco-friendly raw material supply system. Leveraging existing plantation assets and a global trading network, we aim to cement our position as a supplier of eco-friendly raw materials, and expand the SAF production and sales value chain by fostering collaborations with diverse partners domestically and abroad.
We are actively exploring entry into new markets by identifying and partnering with promising bio ventures, serving as a vital link to connect K-biotech with global markets. Embracing the corporate ethos of the POSCO Group, we're steadfastly promoting win-win cooperation initiatives for small and medium-sized ventures and fostering overseas marketing collaborations. As a testament to our efforts, we achieved our first overseas export of bioproducts in 2023. Furthermore, we facilitate the acquisition of overseas licenses and implement cold chain logistics for exporting animal vaccines like swine pneumonia treatments.
Through strategic investments in emerging companies, we're expanding and diversifying our business portfolio. By fostering strategic partnerships and collaborations, we're poised to enhance our global competitiveness, driven by cutting-edge convergence technologies.
Through strategic investments in emerging companies, we're expanding and diversifying our business portfolio. By fostering strategic partnerships and collaborations, we're poised to enhance our global competitiveness, driven by cutting-edge convergence technologies.
