Procurement agency supports resource recovery firms

The Public Procurement Service (PPS) is supporting nationwide efforts to develop resource recovery technologies to help secure a stable supply of raw materials, the state-run procurement agency said Friday. PPS Administrator Baek Seung-bo visited City Oil Field in Jeongeup, North Jeolla Province, Thursday, a company that specializes in producing petrochemical feedstock by decomposing waste plastics, to explore ways to expand sales channels and secure stable raw materials through public procurement. The visit was aimed at strengthening domestic alternative supply chains through waste resource recycling and supporting stable market access for innovative enterprises, especially as geopolitical instability in the Middle East increases the price volatility of imported raw materials. City Oil Field’s plant uses low-temperature pyrolysis to regenerate naphtha and refined oil from waste plastics. By reducing import dependency, the facility enhances production stability and eases the cost burdens for businesses amid global supply disruptions. PPS plans to provide active support to ensure that t