"Making 20 Billion Won a Year from Discarded Plastic"... This Company Profits from 'Waste' [AI Revolution](165)

AI and Data-Driven Waste Recognition Technology
Pilot Projects in Developing Countries such as the Philippines and Panama
Aiming for IPO in the Second Half of Next Year
Rapid Sales Growth Expected with Mandatory Recycled Material Policy

On August 22, Kim Jungbin, CEO of Superb, is being interviewed by Asia Economy at the office in Bundang-gu, Seongnam-si. Photo by Park Yujin

"Superb is, from a technological perspective, a climate tech company specializing in resource circulation, and at the same time, a social venture that aims to solve societal problems."

On August 22, at the company’s office in Bundang-gu, Seongnam-si, Gyeonggi Province, Superb CEO Kim Jungbin introduced the company in this way during an interview with Asia Economy. The starting point of the business was not simply waste disposal, but the ambition to transform the outdated waste industry by combining artificial intelligence (AI) and cultural content. This is also why Kim chose to leave his position as the youngest CEO in the steel industry and launch a startup. He explained, "As a professional manager, there are changes you simply cannot drive yourself, and I wanted to take the lead in those transformations." Now in its tenth year, Superb has become so well-established in the industry that people say, "If you don’t know Superb, you must be out of the loop."

Superb’s flagship solution is the AI-powered resource-circulation robot called ‘Nephron.’ Installed in over 1,600 locations nationwide-including community centers, parks, and parking lots-it automatically recognizes and collects transparent PET bottles and cans. When the camera captures an image at the input slot, the company’s proprietary vision algorithm, ‘Neurogenie,’ analyzes it to determine whether the item is recyclable. The accuracy rate reaches 98 to 99 percent.

"Ultimately, the performance of AI comes down to data. We have accumulated vast training data in the waste sector, and that is our key differentiator." Kim emphasized that Nephron is not just a machine, but a data-driven infrastructure. Looking ahead, the company is preparing new technology using spectroscopic sensors to expand classification to items such as batteries, milk cartons, and used clothing. By analyzing the reflection spectrum of light to identify materials, this method can be optimized for the production of high-quality recycled materials.

The most significant factor supporting Superb’s growth outlook is the mandatory recycled material policy. Starting in January next year, beverage bottles in South Korea must contain at least 10 percent recycled material, and this ratio will increase to 30 percent by 2030. Kim explained, "About 350,000 tons of PET bottles are produced annually in Korea, so even at 10 percent, that creates a demand for 35,000 tons. We collect around 10,000 tons of PET bottles each year, and if we supply this as raw material, the sales from materials alone could reach 20 billion won annually."

Superb currently operates its own factories in Hwaseong, Gyeonggi Province, and Sunchang, North Jeolla Province. The Hwaseong plant produces flakes (plastic recycled material chips), while the Sunchang facility processes these into pellets on a large scale. The company’s strength lies in its ability to not only collect and sell raw materials, but also to manufacture and supply high-quality recycled materials directly. Considering that global companies are increasingly seeking high-quality recycled materials rather than low-cost alternatives, the market potential is expected to grow even further.

Superb is preparing for a pre-IPO investment round, aiming to go public in the second half of next year. The company has already raised a cumulative investment of about 45 billion won. Kim emphasized, "Ventures with a mission to solve social problems also need to set successful IPO precedents," adding, "Even after listing, we will continue to demonstrate both financial and social achievements."

Revenue is increasing rapidly. It more than doubled from 9 billion won in 2023 to 19 billion won in 2024, and this year, Superb expects to reach 25 to 30 billion won. With the mandatory policy taking full effect next year, the company has set a target of 50 billion won.

The next step is overseas expansion. The company sees greater opportunities in developing countries than in advanced nations where recycling systems are already established. Kim explained, "In developing countries, plastic consumption is high relative to income levels, but incineration and landfill infrastructure is lacking. The international community also encourages the adoption of solutions as a form of aid."

Superb has already conducted feasibility studies in places like Manila, Philippines, and Panama in Central America, receiving positive evaluations. The company is receiving support through the Korea Environmental Industry and Technology Institute, which is under the Ministry of Environment, rather than through KOICA, and plans to launch pilot projects next year. However, instead of exporting the high-priced Nephron as is, the strategy is to build a consortium with local governments and companies to develop collection and compensation models, as well as an app-based cash-out system tailored to local conditions.

The company is also expanding into education and culture. The Hwaseong plant is not just a waste facility, but has been created as a space for tours and hands-on experiences. It attracts 500 to 600 visitors per month and is also a training course for principals and vice principals from schools affiliated with the Seoul Metropolitan Office of Education. Kim said, "If we can turn a waste plant, which is often regarded as a nuisance facility, into a place people want to visit, it can help shift social perceptions as well."