SK networks, the brand owner of MINTIT which is an ICT recycling program and LS-Nikko Copper, the national nonferrous metal enterprise teamed up for enhanced ESG management cooperation.
SK networks and LS-Nikko Copper announced on November 15 that they signed an MOU for ‘Resource Circulation through Recycling and strategic Marketing Alliance’ at Gildong ‘CHEOOM’, located in Gangdong-gu, Seoul to get engaged in collaborative efforts for ICT-focused resource recycling.
Through this MOU, the two companies agreed to promote business partnership in recycling IT devices including mobile phones and at the same time make efforts together to foster an environmentally friendly ecosystem by sharing research data related to 3R (Reduce-Reuse-Recycle) and cooperating with each another in social contribution activities.
What SK networks and LS-Nikko Copper have in common is that they both seek to enhance business competitiveness, practice environment protection and create social value through collection and reprocessing of waste resources.
In this regard, MINTIT, an affiliate of SK networks has been building a used phone distribution platform based on its AI-based ATM (MINTIT ATM). SK networks service is also offering ITAD services to manage and process disused IT equipment, engaged in resource circulation and environment business by running resource circulation centers for waste electronic products from a number of partner companies.
The country’s greatest nonferrous metal enterprise LS-Nikko Copper is a leader in the domestic precious metal and rare metal recycling industry which has contributed to environmental value enhancement by recycling gold, silver, platinum, palladium, tellurium, etc. In addition, the Company has successfully launched a precious metal collection plant in Chile, the greatest copper producing country in the world with its global top-tier technology of collecting precious metals contained in copper.
As their first collaborative project, the two companies are currently working on recycling 50,000 units of waste mobile phones collected by MINTIT instead of simply discarding them. LS-Nikko Copper refines PCBs inside waste phones to turn copper, palladium, gold, silver, etc. into value-added metals.
SK networks and LS-Nikko Copper further plan to assist each other in increasing the number of collected waste mobiles phones and ICT devices as well as improving their recycling efficiency. While they will seek to expand their collaborative project scale to IT devices, EV batteries, etc., they will also exhibit a higher commitment to ESG management engaging all the business areas including their subsidiaries.
Yoon-eui Kim, Head of ICT Business Division in SK networks, said at the agreement ceremony, “As the synergy between the two companies has been confirmed through waste mobile phone recycling, more initiatives can be conceived to achieve both business growth and environmental value enhancement in more diverse fields,” and added, “We will together create a comprehensive collaborative plan in our pursuit of future-oriented and sustainable management.”
In response to this, Tae-sun Choi, Vice President, Head of raw materials Division in LS-Nikko Copper commented, “Both the companies are sincerely committed to ESG management in their respective business areas, and this will facilitate our efforts to create synergy in the recycling industry and development of circular economy.”