The Board of Investments (BOI) will complete within the last quarter of the year the Philippine Bioplastics Industry Roadmap which will serve as a guide in attracting investments in resin manufacturing, compounding and conversion that adhere with the goals of circularity through biodegradable plastic and ensure zero waste.
The BOI aims to apply its recent benchmarking and capacity-building activities in South Korea in attracting major companies, CJ Chiljedang, LG Chem, SK Chemical, and Lotte Chem, which are actively engaged in biopolymer and bioplastic manufacturing.
The activities held in Seoul last month was attended by a delegation from the Philippines led by BOI officials involved lectures on bioplastics testing, certification labeling, and R&D strategy. Participants visited the KTR testing laboratory and the KRICT Biodegradable R&D Facility to better understand the development of South Korea’s bioplastics industry especially on how to develop on the role of bioplastics in reducing plastic waste pollution and mitigating climate change.
South Korea has reached a prominent position in the global bioplastics industry.
Most bioplastics applications in South Korea are in (mulch films and fishing nets and gears), packaging, single-use plastics, rigids, textiles, and other industrial applications.
