Vietnam - South Korea cooperation advances high-tech waste management

On the morning of June 27, Deputy Minister of Agriculture and Environment Le Cong Thanh held a bilateral meeting with Mr. Jeon Jongsoo, Chairman of ECOEYE, South Korea.

The meeting aimed to promote cooperation between ECOEYE and agencies under the Ministry of Agriculture and Environment in sharing Korea’s experience in operating the carbon market and expanding into activities such as plastic and e-waste recycling, and ozone layer protection.

At the meeting, Deputy Minister Le Cong Thanh affirmed that Vietnam and South Korea are strongly promoting their Comprehensive Strategic Partnership, with both sides having achieved significant milestones in economic development.

The Deputy Minister of Agriculture and Environment expressed keen interest in ECOEYE's technical expertise, its diverse international activities, and its strategic vision in the fields of carbon markets and climate change. "The Vietnamese government is currently focusing on energy development and addressing environmental challenges, and by the end of this year, we will begin piloting a carbon credit market," he noted.

In addition, Vietnam is ready to actively participate in ECOEYE’s international program on ozone layer protection, as the company’s investment direction aligns well with Vietnam’s development priorities, particularly the focus on recycled materials to meet the demands of high-end markets.

According to the Deputy Minister, Vietnam is also strengthening waste separation at source, promoting recycling, and implementing Extended Producer Responsibility (EPR) policies with strong involvement from the business sector. Moving forward, issues of recycling, plastic and waste management will be advanced through close international cooperation.

Chairman Jeon Jongsoo shared that ECOEYE is a leading enterprise in South Korea in the fields of carbon finance, environmental technology, and the development of low-emission solutions. According to him, the company has implemented over 220 carbon credit projects and serves as a strategic consulting partner for the Korean Ministry of Environment, as well as major conglomerates such as Samsung, Hyundai, SK, Posco, and LG Chemical. ECOEYE supports these partners in forecasting carbon credit and quota prices and in building circular economy models.

He stated that: "Vietnam has always been identified as the top priority market, with abundant potential in recyclable materials, strong prospects for improving waste treatment technologies, and a clearly emerging policy ecosystem oriented toward sustainable development and the carbon market". 

The company is oriented toward the development of technologies and circular economy models with a strong focus on chemical recycling of plastic waste, the treatment of electronic waste and fluorinated gases (F-Gas), waste management, emission reduction in the agricultural sector, and resource regeneration. In addition, ECOEYE places special emphasis on research and implementation of EPR, recognizing it as a key policy instrument to promote efficient recycling and enhance post-consumer resource recovery.

At the conclusion of the meeting, the Deputy Minister of Agriculture and Environment proposed expanding cooperation into the field of electronic waste management, and expressed his hope that ECOEYE would play a pioneering role in developing a recycling market in Vietnam.

Chairman Jeon Jongsoo reaffirmed the company’s commitment to continue supporting Vietnam in its green transition and in building an effective carbon market, thereby contributing to the sustainable development goals of both countries.

In October 2022, ECOEYE signed a Memorandum of Understanding with V Water Solutions (VWS) in Hanoi to pilot a project on the recovery and refinement of hydrofluorocarbons (HFCs) - a group of potent greenhouse gases that are often directly released into the atmosphere. Since November 2022, the project has installed equipment and conducted technical trials, with the goal of generating carbon credits and transferring advanced technologies.

Within the framework of the SPI-NDC Project (2023 - 2024), ECOEYE has been collaborating with the Institute of Ecology and Environment (EEI) and GreenCIC to review international experiences and develop the legal and technical foundations for Vietnam's carbon market. The company plays a key role in sharing the Korean Emissions Trading System (ETS) model, organizing workshops, and contributing to the formulation of carbon policies for Vietnam.