South Korean fiber manufacturer Hyosung TNC Co plans to recycle abandoned fishing nets to produce a new nylon fiber called MIPAN Regen Ocean. As per Korea Biz Wire, the project will be executed in partnership with a municipal government.

Hyosung has signed a memorandum of understanding (MOU) with the Busan metropolitan government and a social venture Netspa for the project. The city government will establish a system for separate disposal of abandoned fishing nets, while Netspa will be in charge of washing and processing the collected fishing nets.

Hyosung TNC will also expand investment in a depolymerization facility to remove the impurities in fishing nets and churn out more than 150 tons of MIPAN Regen Ocean per month. The initiative aims to reduce the marine pollution and improve awareness about the protection of the marine environment.