SKC

• An agreement on the establishment
  of a sustainable resource circulation system and the spread of green culture was
  signed ... for collaborative efforts in product development and ecosystem
  reinforcement.

• Synergy between SKC’s
  competitive edge on eco-friendly materials and BlackYak’s competence of green consumer
  goods... to help solve the problems of plastics.

SKC (President: Woncheol Park) has partnered with BYN
BlackYak (hereinafter “BlackYak”), a global outdoor company,
for the reinforcement of the eco-friendly materials ecosystem and spread of
green culture.

SKC and BlackYak signed an agreement on the establishment
of a sustainable resource circulation system and the spread of green culture on
May 25 at the BlackYak head office in Seocho-gu, Seoul. Through this agreement,
both companies will work together in expanding eco-friendly product
manufacturing and supporting startups and SMEs that have excellent materials
technologies. Key executives of both companies including President Woncheol
Park of SKC and Chairman Tae-sun Kang of BlackYak attended the signing ceremony.

SKC and BlackYak will combine their capabilities to
cooperate in establishing a resource circulation ecosystem and develop products
based on eco-friendly materials. SKC is leading the efforts to solve the
problems of plastics through commercialization of various biodegradable
materials such as Ecolabel, a packing material that can be reused together with
PET bottles, high-strength biodegradable PBAT and biodegradable LIMEX. BlackYak
is making efforts for plastic resource circulation by launching Plustic, a collection
of eco-friendly products made by recycling collected PET bottles.

BlackYak will also join SKC’s Open Platform for New
Materials Technology Foundation to assist in energizing the materials industry
ecosystem of South Korea. The Open Platform is a shared infrastructure aimed at
supporting promising startups in the materials field for their successful
commercialization. SKC has been operating the Open Platform since 2017 together
with expert organizations representing each field including Ulsan Creative
Economy Innovation Center and The National Academy of Engineering of Korea.
BlackYak, as a B2C expert, supports the commercialization of eco-friendly
materials of the participating companies.

Collaborative efforts will also be made for
spreading an eco-friendly culture. The most representative campaign is linking SKC’s
eco-friendly plastic platform My Green Place with the activities of BlackYak
Alpine Club (BAC), the largest outdoor social activity platform in South Korea.
Both companies will make efforts to spread the culture of accurate recyclable waste
disposal through the combination of BAC’s mountain hiking program Clean
Mountain, in which people collect waste while mountain hiking, and My Green
Place that provides information on plastic waste disposal.

Furthermore,
both companies will promote campaigns that will involve direct engagement of
employees and increase their eco-friendly awareness by installing PET bottle
collectors at SKC’s business sites and launching a resource circulation project
to make uniforms with collected waste PET bottles.

An
SKC executive said, “When SKC’s competitive edge on eco-friendly materials is
added to BlackYak’s competence of green consumer goods, it will be possible to
make better products and create a more robust eco-friendly ecosystem,” and
added, “Through this, we will do the best we can to come up with ESG materials
solutions that can help solve the problems of plastics and spread an eco-friendly
culture. [End of document]

[SKC
signed an agreement on the Establishment of a sustainable resource circulation
system and the spread of green culture on May 25 with BYN BlackYak, an outdoor specialist.
President Woncheol Park of SKC and Chairman Tae-sun Kang of BlackYak are holding
up the signed agreements.]