In the first half of this year, SK Leaveo intends to commence construction in Hai Phong, Vietnam, for the establishment of the world's largest PBAT (Polybutylene Adipate Terephthalate) production plant, with an annual capacity of 70,000 tons. Hai Phong, Vietnam's primary port city and pivotal industrial center, boasts outstanding logistics infrastructure. Additionally, the city fulfills RE100 standards by sourcing all its electricity needs from renewable energy sources, ensuring the environmental sustainability of the manufacturing process.

In order to broaden the potential applications of PBAT, SKC incorporates nano-cellulose extracted from trees as a reinforcing agent, significantly enhancing its strength to levels akin to traditional plastics. Consequently, PBAT finds utility not only in agricultural and packaging films, as well as containers for a range of consumable goods, but also in non-woven fabrics utilized in personal hygiene items such as diapers, sanitary pads, and other filtration products.

Hai Phong will also host a production facility for SK TBMgeostone, an investment venture of SKC specializing in biodegradable LIMEX material. Biodegradable LIMEX stands out as an innovative environmentally friendly material crafted from natural inorganic limestone, fused with biodegradable PBAT resin instead of conventional plastic. The collaboration between Vietnam's abundant limestone resources and SK Leaveo's PBAT technology is anticipated to yield superior quality and competitive pricing.

"The updated name better reflects the importance and vision of our biodegradable material business," stated a representative from SK Leaveo. "We are committed to enlarging our eco-friendly business portfolio, delivering high-value material solutions across diverse applications."

PBAT is extensively utilized as a flexible and durable bioplastic, serving as a vital material for food packaging films and shopping bags.

Ecovance, an investment venture of SKC (led by CEO Woncheol Park), has been rebranded as SK Leaveo as it advances towards full-scale commercialization of its biodegradable materials.

On April 5th, SK Leaveo convened a board meeting during which the members unanimously decided to alter the company's corporate name. The new name reflects the fundamental principle of their biodegradable material business model (BM), emphasizing the natural biodegradation of their products with zero waste residue. Additionally, SK Leaveo introduced their new slogan, "We Leave Zero," in alignment with the updated corporate identity.

Previously known as Ecovance, SK Leaveo was founded in November 2021 by SKC, Daesang Corp, Korea's premier food manufacturer, and trading company LX International Corp. Initially, the three shareholders held ownership stakes of 57.8%, 22.2%, and 20% in the biodegradable material manufacturer, respectively.