[Climate Tech Heatwave (19)] Turning Waste into Resources... Circular Economy Leader 'Superbin'

Interview with Kim Jung-bin, CEO of Superbin
"Proving the New Value of Waste to the World" Vision
Q4 Break-even Outlook... "Preparing for IPO"

PET bottles collected from across the country are spread out on a conveyor belt. Artificial intelligence (AI) distinguishes foreign substances from the PET bottles, and the filtered PET bottles are crushed into pieces smaller than a fingernail. After several processes, plastic flakes are produced. These flakes are purchased by chemical companies, textile companies, and food container manufacturers to be recycled into plastic bottles and packaging materials. The site where PET bottles we throw away as recycling waste every week turn back into money is the Superbin factory in Hwaseong-si, Gyeonggi-do. At this factory, it is clear at a glance that waste is no longer just waste. Established in 2015, Superbin has been leading the activation of the circular economy by building a plastic recycling value chain from waste collection to processing into raw materials.

CEO Kim Jung-bin of Superbin is demonstrating and explaining the company's recycling waste collector, Nephron Basic, at the office in Bundang-gu, Seongnam-si. Photo by Younghan Heo younghan@

On the 21st, Kim Jeong-bin, CEO of Superbin, introduced the company by saying, “When people bring out recyclables, we create a link that connects recyclables to actual industries, generating added value,” and “We play a role in accurately defining the waste needed by industries to establish the circular economy in the market.” After completing his Ph.D. coursework in economics at Cornell University Graduate School and serving as head of strategic planning at the Korea Textile Technology Institute, Kim was recruited by the mid-sized steel company Kostil and even served as CEO. He started his business to put into practice the vision of ‘proving the new value of waste to the world,’ which he reflected on in the industrial field. It has been 10 years since then, and now the title of startup CEO feels more familiar.

In 2016, Superbin introduced ‘Nephron,’ an AI robot that sorts and collects discarded PET bottles and aluminum cans, and ‘Superbin Moa,’ a face-to-face waste collection service. Later, they secured a dedicated waste transport vehicle called ‘Supercar,’ and in 2019, they built a waste storage warehouse called ‘Circular Resource Warehouse’ in Yeosu, Jeollanam-do. Last year, they completed their first factory for processing waste into recycled materials, IM Factory, thus completing their circular economy business model. The site covers 13,200㎡ (about 4,000 pyeong) with a building area of 4,000㎡ (about 1,200 pyeong).

Superbin’s core technology is Nephron, which is at the forefront of the circular economy. As of May this year, 1,177 units have been installed in 15 local governments nationwide. Nephron recognizes and separates PET bottles, aluminum cans, milk cartons, and even delivery container lids.

The circular resource collection robot 'Nephron' uses AI to separate and collect waste plastic. (Photo by Superbin)

Nephron has improved its sorting ability by learning daily through AI technology. Ninety-nine percent of the waste collected through Nephron is recycled. Additionally, Nephron provides points that can be used like cash when waste is deposited, making recycling feel like a game. As of July, the resources recycled through Superbin include about 420 million PET bottles and about 136.5 million cans, with a cumulative redemption amount reaching 3.7 billion KRW.

Although Superbin is leading the establishment of the circular economy market, Kim sees the domestic market as significantly lagging behind. He explained, “There is a claim that Korea’s recycling rate reaches 80%, but this is a misleading expression,” adding, “This figure refers to 80% of the waste generated arriving at recycling sorting centers, but the actual recycling rate is believed to be below 50%.”

With major countries such as the European Union (EU) and the United States mandating the use of recycled raw materials, Kim believes the Korean government must actively support the development of the related market. He said, “The EU has regulated that from next year, 25% of beverage packaging must be made with recycled plastic, and the related markets and facilities are already established.” He added, “Korea has also mandated the use of recycled raw materials by 2030, but investment in the related market is not active. Domestic companies need to use recycled raw materials for exports, but since the domestic market is small, the price competitiveness of recycled raw materials inevitably falls, leading to a situation where imports are necessary.”

Kim’s goal through Superbin is to root the circular economy in Korean industry. He said, “I want to create a clear example of the circular economy,” and “We expect to reach the break-even point in the fourth quarter of this year and are preparing for an IPO.”