A Fully Owned Subsidiary of SK ecoplant
SK ecoplant announced on May 25 that TES, a global player in electronic waste recycling which was acquired by SK ecoplant in February, signed an MOU with Mintit, a Korean company that collects used mobile phones using an AI-based automated teller machine (ATM) platform, to jointly promote the mobile phone recycling business overseas.
A signing ceremony was held at DMC Tower in Mapo-gu, Seoul on May 24 withe the .attendance of key officials from both companies, including Gary Steele, CEO of TES, Ha Seong-moon, CEO of Mintit, Jeon Eui-jong, director of global business management at SK ecoplant, and Terence Ng, chairman of TES.
Founded in 2005 in Singapore, TES is a global company that specializes in e-waste management, and mainly performs the collection of waste electrical/electronic products, data destruction for security, metal recovery by shredding and disassembling used electric and electronic products and the disposition and resale of IT assets. Currently, it operates 43 treatment facilities in 21 countries. It has secured a value chain across all related business areas and regarded as one of the industry's most competitive players. SK ecoplant acquired a 100 percent stake in the company in February.
Mintit is the first company in Korea to collect used mobile phones using an AI-based unmanned ATM platform, called Mintin ATM.
Through the MOU, TES will expand its share of the global used mobile phone market by using Mintit’s non-face-to-face used mobile phone trading platform.