Kolon to recycle discarded clothing, set up recycling factory and establish own brand in Mongolia (Korea)

The FnC division of Kolon Industry, a major chemical materials manufacturer (hereinafter referred to as Kolon FnC), has announced that it will launch a clothing waste recycling business in Mongolia and Vietnam.
In September 2023, Kolon FnC will form a consortium with social venture company KOA to develop a private development project promoted by the Korea International Cooperation Agency (KOICA).
The two companies signed a memorandum of understanding (MOU) to participate in the cooperation business model "KOICA IBS-ESG Initiative." The initiative aims to promote activities based on corporate ESG (environmental, social and governance) in developing countries.
The project aims to achieve the Sustainable Development Goals (SDGs) by developing a recycling factory, pilot projects for utilizing clothing waste, training human resources specializing in recycling fashion, and awareness-raising activities.
The establishment of the recycling factory will be a fiber recycling center that will collect waste from cashmere clothing, excess fabric from clothing factories, and clothing inventory, and sort them by purpose and carry out preliminary work for reuse.
Construction will begin in 2025, with completion scheduled for June 2026 in Ulaanbaatar, Mongolia. The pilot project to utilize clothing waste will involve the production of products made from recycled cashmere yarn produced at the tree trunk factory.
The goal is to develop and launch a brand specializing in recycled fashion. In addition, the Mongolian University of Science and Technology and the Vietnam National University will open a recycled fashion course in the textile department and provide educational materials.
It has also been decided to develop