Korean companies capitalize on sustainable consumption

By Baek Byung-yeul

Samsung Electronics, LG Electronics and food and beverage companies such as Lotte Chilsung and Dongwon F&B are capitalizing on the expanding sustainable consumption trend by making their products using eco-friendly materials.

The companies said Monday they are trying to minimize the negative impact on the environment by producing eco-friendly products and motivating their consumers to pursue a more sustainable lifestyle.

At a time when companies are being required to implement environmental, social and governance (ESG) values, their added efforts to develop more eco-friendly products will be a crucial indicator of corporate competitiveness.

Samsung Electronics said it developed a new material using ocean bound plastics such as discarded fishing nets for its new Galaxy S22 smartphone, which will be introduced on Feb. 9. The IT giant said the move shows its effort to combine sustainability and innovation as 640,000 tons of fishing nets are abandoned and discarded every year.

“Lingering in our oceans for centuries, these 'ghost nets' are responsible for trapping and entangling marine life, damaging coral reefs and natural habitats and even ending up in our food and water sources. These discarded fishing nets are disrupting the delicate balance of our environment at an alarming rate. Collecting and repurposing these nets are vital first steps in keeping our oceans clean as well as preserving the planet and our collective future,” Samsung said.

Samsung added that the reuse of the fishing nets is just the first step in its response to the climate crisis as its goal is to use more recycled materials on all of its new mobile devices.

The use of eco-friendly materials to manufacture products resonates well with young people. Self-management tracking app Grow surveyed 928 people born between 1980 and 2004 and found that 79 percent consider themselves to be sustainable consumers. Also, 64.7 percent said the environment is the most important component of the three values of ESG.

In line with the trend, LG Electronics is also increasingly using eco-friendly materials for its gadgets. The tech giant said that its sound bar products use polyester jersey fabric that was made from plastic bottles. For the packaging of its products, the company uses recycled molded pulp, an eco-friendly material that still protects their products.

The strategy of making products using eco-friendly materials is also actively used in the food and beverage industry.

Lotte Chilsung, Dongwon F&B and other firms are increasingly producing beverages with label-free bottles to facilitate recycling. Dongwon F&B, well known for its hearty packaged stews and canned tuna, began selling water in label-free plastic bottles.

Food delivery app operators such as Baemin, Coupang Eats and Yogiyo are also responding to the trend. As the use of plastic cutlery has increased due to the pandemic, these delivery service operators have been letting consumers choose whether to receive plastic forks and spoons with their orders.