Idemitsu Kosan, Kumho Petrochemical and Sumitomo have entered into a MoU to create a long-term partnership for the development and further growth of the sustainable polymers and chemicals market in Asia. As part of the project, Idemitsu Kosan will produce bio-based styrene monomer (SM) using the mass balance method, Kumho will produce bio-based solution styrene butadiene rubber, and Sumitomo will coordinate the collaboration and develop the bio-material supply chain. Bio-polymer production is expected to begin in 2024. By increasing the use of bio-SM from bio-naphtha, the companies expect to reduce carbon and greenhouse gas generation, or carbon footprint, as well as strengthen ESG management cooperation network