Frankit Co., Ltd. and Econect Co., Ltd. announced on the 9th that they signed a business agreement (MOU) on March 27th to promote the development and commercialization of recycled plastic products.
Through this agreement, the two companies agreed to pursue practical technical and business cooperation with the main goals of ▲joint development of eco-friendly recycled plastic products exclusively for the restaurant industry and ▲expanding the eco-friendly recycled plastic market for the restaurant industry. This is interpreted as a strategic move to build a sustainable industrial ecosystem based on resource circulation.
Frankit provides a cloud-based dedicated mall ordering system and integrated supply chain management service, and supports operational efficiency and brand-tailored product production for various restaurant brands and operators.
Econect develops optimal recycled materials and products based on a database of waste and recycled materials, and efficiently supports the introduction of eco-friendly products and materials to various domestic and international food, logistics, and distribution companies.
Frankit CEO Jeong Sang-won said, “Through this collaboration, we hope to expand the use of eco-friendly products throughout the restaurant industry and contribute to spreading a sustainable consumption culture.”
Econect CEO Cho Min-hyung also said, “We expect to be able to present reasonable and environmentally friendly products to those in the restaurant industry,” and “This will become an exemplary case of private partnership leading the way to realizing a sustainable circular economy.”
Meanwhile, actual commercialization and market application of recycled plastics is scheduled for the second quarter of 2025.
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