Hyosung TNC announced on June 13th that it has recently signed a Memorandum of Understanding (MOU) with Ambercycle, located in California, for the production of recycled fiber from regenerated resources. Ambercycle possesses unique technology that recycles discarded clothing and fabric waste into polyester raw materials. Recently, the company has expanded its presence in the recycled fiber market through a strategic partnership with Inditex, the parent company of global fashion brand Zara.
According to the agreement, the two companies will produce polyester fiber using recycled polyester materials from Ambercycle. They plan to collaborate with fashion companies on a joint marketing program to launch clothing products made from this fiber. Hyosung TNC expects this MOU to not only invigorate the recycled fiber market but also strengthen its position as a leader in the eco-friendly textile market by promoting resource circulation from discarded clothing to recycled fiber production.
In the mid-2000s, Hyosung TNC developed 'regen', the first polyester recycled fiber from discarded PET bottles and nylon recycled fiber from abandoned fishing nets in South Korea. Since then, it has led the recycled fiber and fashion markets both domestically and globally. The current global eco-friendly textile and fashion market, including recycled fibers, is estimated to be worth around ₩23 trillion, growing at an annual rate of 12.
5%. By 2030, this market, encompassing upstream and downstream b.
