Korea Asset Management Corporation (KAMCO) will help 10,000 organizations recycle waste appliances.
The company announced on Aug. 30 that it has signed a business agreement with the Korea Environment Corporation and E-Circular Governance to implement zero e-waste emissions and resources circulation.
The business agreement connects the systems between Onbid and E-Circulation Governance to support the eco-friendly disposal of waste electronics at organizations that use Onbid services, thereby promoting a virtuous cycle of resources and a cut in carbon emissions.
It aims to establish the Onbid Resources Circulation One-Stop System.
Under the agreement, organizations that use Onbid services can apply for the E-Circulation Governance Service on the Onbid website to receive free nationwide collection, recycling, ESG performance certifications and other services without the hassle of individually handling appliances when they passed their use-by dates or are scheduled to be disposed of through an Onbid sale process but they did not sell in the Onbid sale process.
E-Circular Governance will support the free collection and eco-friendly recycling of waste appliances using direct logistics, and provide ESG performance certificates such as greenhouse gas reduction certificates and social contribution certificates including donation receipts depending on the amount of emissions.
The agreement is expected to improve convenience for organizations using Onbid services and save administrative power including human resources and expenses.
It is also expected to contribute to a transition to a circular economy by promoting the organizations’ participation in a virtuous cycle of public resources.
“The resources recycling system based on Onbid is a best practice of ESG management that can combine carbon reduction and social contribution activities,” said Kwon Nam-joo, president of KAMCO. “KAMCO will continue to actively participate in carbon neutrality policies by promoting resources recycling campaigns held throughout every year including carbon emissions reduction activities.”
Onbid Waste Electronics Recycling Campaign
KAMCO announced on that it held the “ON:RE For Earth” campaign to encourage employees of Busan International Financial Center (BIFC) building tenant companies to donate waste electronic products at the BIFC on Sept. 3.
The campaign ran at On-Site Donation Pop-up Store set up in the lobby on the BIFC building's first floor for one week to receive donations of small appliances, computers, and other electronic products to be disposed of at home or in the office in honor of Resource Recycling Day.
The donated waste electronic products will be recycled in an eco-friendly manner through E-Cycle Governance, a non-profit corporation specializing in recycling.
The event is expected to encourage employees of BIFC building tenant companies to practice resources recycling to reduce carbon emissions and raise people’s awareness of the waste electronic product recycling system.
“This campaign was a meaningful event that helped us to recognize the importance of practicing carbon reduction activities in our daily lives,” a KAMCO official said. “KAMCO will step up its efforts to spread the culture of a sustainable circular economy by launching resource recycling campaigns through Onbid.”
Transfer of State-Owned Property Management Know-How to Tanzania
KAMCO will increase the Tanzanian Ministry of Finance’s ability to manage state-owned real estate.
The company announced on Aug. 19 that it will conduct a training program to transfer its experience and know-how in managing and disposing of state-owned real estate to Tanzania.
The training program was initiated by the Tanzanian Ministry of Finance which requested KAMCO to provide policy training on state-owned property management.
During the training program, KAMCO will lecture on legal and institutional frameworks for state-owned property management, a state-owned property management cycle and performance management, digitalization and innovation in the work and discuss future cooperation to provide general solutions for state-owned property management for the Tanzanian Ministry of Finance.
“As Tanzania is the largest recipient of official development assistance (ODA) from Korea and an important partner country, we hope that the two organizations will form and maintain a sustainable partnership,” said a KAMCO official said.
“KAMCO will continue to actively transfer know-how in bad debt resolution and state-owned property management to various countries, including Tanzania.”
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