SMEs and large companies to increase the use of renewable resources… Held the ‘Circular Economy Win-Win Lounge’

A forum for cooperation between SMEs and large enterprises was opened to expand the use of renewable resources in the industry and to build a circular economy.

The Ministry of Trade, Industry and Energy announced on the 23rd that it held ‘The 1st Circular Economy Large and Small Business Coexistence Lounge’ at the L Tower in Yangjae-dong, Seoul.

This event was prepared to expand the use of renewable resources in the industry and build a circular economy ecosystem by providing business opportunities for small and medium-sized enterprises related to recycling with large enterprises. Recycling refers to an industry that recovers valuable resources from waste resources such as waste batteries, waste printed circuit boards (PCBs), and steel scraps and supplies them back as industrial raw materials.

In this event, 44 recyclable demand-supply companies participated to share best practices for win-win cooperation in renewable resources, and held company briefings and partnering consultations.

Company H, introduced as a case of win-win cooperation in recycling waste catalysts, is in the business of recovering precious metals such as platinum and palladium by recycling waste catalysts after securing waste catalysts from large oil refining companies. The recovered precious metals are reintroduced as industrial raw materials for the manufacture of new catalysts, thereby replacing imports of the raw materials and reducing carbon.

A case of producing high-purity battery materials by extracting nickel, cobalt, and lithium from waste batteries was also introduced.

Starting with this event, the Ministry of Industry will support various events and programs to revitalize the circular economy.

‘Financial sector circular product briefing’ (December 1), introducing eco-friendly and remanufactured circular products of SMEs to the financial sector, and ‘Circular economy’ exhibiting and promoting circular economy performance in various fields such as industry and construction machinery, automobiles, and eco-textiles Industry Exhibition’ (December 23) will be held one after another.

Next year, the target of win-win cooperation will be expanded from recycling (renewable raw materials) such as nickel, lithium, and platinum to eco-friendly parts, products, and recycling services.

Businesses that are pursuing projects discovered through the circular economy activation program will be supported for commercialization, such as developing a carbon reduction performance calculation methodology, discovering and demonstrating new businesses, and pioneering domestic and overseas markets.

Win-Win Lounge Corporate networking is open all the time. For more information, please contact the National Clean Production Support Center (, 02-2183-1525) of the Korea Institute of Industrial Technology.

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