Terracle is a company specializing in chemical recycling of waste plastics. The company was founded in July 2021 by CEO Kwon Kibaek (32).
“We operate a chemical recycling business that converts waste plastic (PET) back into its original raw materials—TPA (terephthalic acid) and EG (ethylene glycol)—and supplies them to the market,” Kwon explained.
Through its waste treatment services, Terracle recycles colored and composite plastic waste that is difficult to process through conventional mechanical recycling. The company produces and sells recycled monomers CR-TPA and CR-EG, helping corporate customers achieve zero waste at their facilities, reduced waste disposal costs, ESG compliance, greenhouse gas reduction, closed-loop recycling, and stable supply of recycled materials. Terracle positions itself not merely as a recycling company but as a provider of sustainable ESG solutions.
“Terracle addresses the fundamental challenges of resource circulation through technology rather than relying on consumer participation or marketing,” said Kwon. “Our key technology is depolymerization. According to the standards of Korea’s Ministry of Environment Green Technology Certification, our process can recover approximately 97–99% of raw materials from waste, and the recycling process operates at temperatures below 100°C.”
He added that the company has built an environmentally friendly process by replacing chemical solvents with waste-derived materials and recovering wastewater, thereby minimizing environmental impact.
Based on this technology, Terracle can supply CR-TPA (chemically recycled terephthalic acid) and CR-EG (ethylene glycol) with purity exceeding 99% at large scale. These materials can be used broadly without additional additives or equipment upgrades.
In particular, TPA, Terracle’s main product, is a key raw material used in packaging, textiles, films, engineering plastics, paints, adhesives, and tire cords, making it far more versatile than conventional recycled PET chips.
“Our market expansion often begins with companies approaching us first,” Kwon said. “We have actively developed business opportunities through open innovation and collaboration programs. Moving forward, we aim to focus on overseas consumer goods companies—especially in fashion and food & beverage sectors—that are seeking recycling and circular resource solutions.”
Terracle has successfully raised KRW 10.5 billion (approximately USD 8 million) in Series A funding from investors including Envisioning Partners, DSC Investment, Hyundai Motor Group’s ZER01NE, Korea Development Bank, and Schmidt.
Kwon explained that his entrepreneurial journey began during his time working at an advertising agency.
“While working on eco-friendly campaigns, I realized that plastics are used across almost every industry—from automotive and chemicals to fashion and healthcare,” he said. “Even if we advocate for a ‘plastic-free’ future, it is practically impossible to live without plastics for even a single day. As I studied resource circulation more deeply, I also realized that greenwashing and consumer actions like waste sorting or using tumblers and eco-bags alone cannot solve the fundamental problem. That realization motivated me to start this company.”
Terracle is currently participating in the BEF × B Startup PIE Accelerating Program, operated by the Busan Center for Creative Economy & Innovation (BCCEI).
The program supports early-stage startups practicing ESG principles by providing technology and service advancement support, investment opportunities, mentoring, business development funding, ESG reporting, and networking events. It is funded by the Busan Economic Revitalization Fund (BEF), a joint initiative created to promote innovation-driven growth and expand ESG management among small and medium-sized enterprises.
Nine organizations contribute to the fund, including the Korea Technology Finance Corporation, Busan Metropolitan Corporation, Busan Port Authority, Korea Housing & Urban Guarantee Corporation, Korea Southern Power, Korea Securities Depository, Korea Asset Management Corporation, Korea Housing Finance Corporation, and Korea Ocean Business Corporation.
“Even before this program, the Busan Center for Creative Economy & Innovation has been a very supportive partner,” Kwon said. “They have helped us through investment opportunities, open innovation programs, financial support, and capability-building training.”
Terracle is a company specializing in chemical recycling of waste plastics. The company was founded in July 2021 by CEO Kwon Kibaek (32).
“We operate a chemical recycling business that converts waste plastic (PET) back into its original raw materials—TPA (terephthalic acid) and EG (ethylene glycol)—and supplies them to the market,” Kwon explained.
Through its waste treatment services, Terracle recycles colored and composite plastic waste that is difficult to process through conventional mechanical recycling. The company produces and sells recycled monomers CR-TPA and CR-EG, helping corporate customers achieve zero waste at their facilities, reduced waste disposal costs, ESG compliance, greenhouse gas reduction, closed-loop recycling, and stable supply of recycled materials. Terracle positions itself not merely as a recycling company but as a provider of sustainable ESG solutions.
“Terracle addresses the fundamental challenges of resource circulation through technology rather than relying on consumer participation or marketing,” said Kwon. “Our key technology is depolymerization. According to the standards of Korea’s Ministry of Environment Green Technology Certification, our process can recover approximately 97–99% of raw materials from waste, and the recycling process operates at temperatures below 100°C.”
He added that the company has built an environmentally friendly process by replacing chemical solvents with waste-derived materials and recovering wastewater, thereby minimizing environmental impact.
Based on this technology, Terracle can supply CR-TPA (chemically recycled terephthalic acid) and CR-EG (ethylene glycol) with purity exceeding 99% at large scale. These materials can be used broadly without additional additives or equipment upgrades.
In particular, TPA, Terracle’s main product, is a key raw material used in packaging, textiles, films, engineering plastics, paints, adhesives, and tire cords, making it far more versatile than conventional recycled PET chips.
“Our market expansion often begins with companies approaching us first,” Kwon said. “We have actively developed business opportunities through open innovation and collaboration programs. Moving forward, we aim to focus on overseas consumer goods companies—especially in fashion and food & beverage sectors—that are seeking recycling and circular resource solutions.”
Terracle has successfully raised KRW 10.5 billion (approximately USD 8 million) in Series A funding from investors including Envisioning Partners, DSC Investment, Hyundai Motor Group’s ZER01NE, Korea Development Bank, and Schmidt.
Kwon explained that his entrepreneurial journey began during his time working at an advertising agency.
“While working on eco-friendly campaigns, I realized that plastics are used across almost every industry—from automotive and chemicals to fashion and healthcare,” he said. “Even if we advocate for a ‘plastic-free’ future, it is practically impossible to live without plastics for even a single day. As I studied resource circulation more deeply, I also realized that greenwashing and consumer actions like waste sorting or using tumblers and eco-bags alone cannot solve the fundamental problem. That realization motivated me to start this company.”
Terracle is currently participating in the BEF × B Startup PIE Accelerating Program, operated by the Busan Center for Creative Economy & Innovation (BCCEI).
The program supports early-stage startups practicing ESG principles by providing technology and service advancement support, investment opportunities, mentoring, business development funding, ESG reporting, and networking events. It is funded by the Busan Economic Revitalization Fund (BEF), a joint initiative created to promote innovation-driven growth and expand ESG management among small and medium-sized enterprises.
Nine organizations contribute to the fund, including the Korea Technology Finance Corporation, Busan Metropolitan Corporation, Busan Port Authority, Korea Housing & Urban Guarantee Corporation, Korea Southern Power, Korea Securities Depository, Korea Asset Management Corporation, Korea Housing Finance Corporation, and Korea Ocean Business Corporation.
“Even before this program, the Busan Center for Creative Economy & Innovation has been a very supportive partner,” Kwon said. “They have helped us through investment opportunities, open innovation programs, financial support, and capability-building training.”