SK Geo Centric and Plastic Energy plan to build a plant in Ulsan, South Korea, that can convert 66,000 metric tons per year of plastic waste into pyrolysis oil that can be turned into plastics again. SK will build a separate pyrolysis oil upgrader. Plastic Energy operates two pyrolysis plants in Spain. The South Korean facility will be part of a $1.3 billion recycling cluster planned by SK. The site will also host a Loop Industries polyethylene terephthalate depolymerization plant and a PureCycle polypropylene recycling facility.