KIMST Hosts, KingoSpring Operates Roundtable Event Connecting 10 Innovative Marine and Fisheries Companies with Investors




1:1 Roundtable session in progress / Source: Kingospring


The investment attraction roundtable for the 2024 Ocean Springboard Program, hosted by the Korea Institute of Marine Science & Technology Promotion (KIMST, Director Oh Woon-yeol) and operated by KingoSpring (CEO Jung Jin-dong), was successfully held. This event provided a platform for 10 promising marine and fisheries companies, selected through the program, to engage in in-depth 1:1 discussions with investors to seek investment opportunities.
In October, the 10 companies participating in the Ocean Springboard program showcased their technological capabilities and market potential during a Demo Day event. Among them, Metacle and ECORENEW were recognized as outstanding companies, earning the honor of advancing to the integrated Demo Day. Both companies gained significant attention for their innovative technologies and business models in the marine and fisheries sector, raising expectations for even greater growth in the future.


Metacle meeting with Yuanta Securities / Source: KingoSpring


This roundtable provided a valuable opportunity for direct exchanges between marine and fisheries startups and investors, presenting a vision for the advancement of Korea's marine and fisheries industries and a sustainable future. Each company engaged in individual consultations with investors, focusing on their core business models, technological strengths, and market potential, exploring the possibility of attracting investment.



Furthermore, KIMST and KingoSpring plan to continue fostering investment connections through follow-up investment meetings in November. These efforts are aimed at providing participating companies with more opportunities for growth.



The Ocean Springboard program is the only specialized acceleration program in South Korea that supports next-generation innovators in the marine and fisheries sectors, helping them grow through capital and resources. The 10 companies selected this year are enhancing their potential for expansion into domestic and international markets through government support, mentoring, and networking opportunities.



Jung Jin-dong, CEO of KingoSpring, stated, “This roundtable offered a valuable opportunity for participating companies to engage directly with investors and enhance their business growth potential.” He added, “We will continue to work closely with KIMST to support promising companies in the marine and fisheries sector so that they can further stand out.”


If the 1:1 roundtable leads to successful investment attraction for these marine and fisheries startups, it is expected to serve as a critical momentum for the growth of the related industries and the creation of new industries.

Reference : https://www.mk.co.kr/news/business/11159105

[Interview] ECORENEW Inc. CEO Dukhyun Choi (Professor, School of Mechanical Engineering, Sungkyunkwan University)





“South Korea, being a water-stressed country with high dependence on crude oil, urgently needs a transition to a circular economy through the reuse of water and oil.”

This is why Professor Choi founded ECORENEW Inc.

ECORENEW is researching and developing continuous oil-water separation equipment for marine oil and industrial wastewater treatment using advanced nanofilter technology. ECORENEW’s innovative oil-water separation technology provides essential solutions for companies striving to achieve ESG (Environmental, Social, and Governance) goals.

ECORENEW’s CEO, Dukhyun Choi, holds a Ph.D. in Mechanical Engineering fr|om Postech. He has secured over 2 billion KRW in technology development funding through industry-academia collaborations and over 3 billion KRW through government projects. He has registered more than 50 patents domestically and internationally and has transferred technology three times. His research on micro/nano surface application technology has resulted in over 150 SCIE papers (H-index 49, citations 7856).

We met with ECORENEW’s CEO, Dukhyun Choi, who is based at the Sungkyunkwan University Startup Incubation Center, on October 2.

ECORENEW Inc. CEO Dukhyun Choi (Professor, School of Mechanical Engineering, Sungkyunkwan University).

The following is Q&A with CEO Choi.

- What company is ECORENEW?

ECORENEW is an environmental improvement specialist company that creates a clean environment based on innovative technology.

At ECORENEW, we are researching and developing continuous oil-water separation equipment for marine oil and industrial wastewater treatment using advanced nanofilter technology. Through this, we are working to protect the environment and ecosystem, promote worker health, and respond to the climate crisis to create a sustainable future.

South Korea is a water-stressed country with high dependence on crude oil, making it urgent to transition to a circular economy through the reuse of water and oil.

ECORENEW’s innovative oil-water separation technology provides essential solution for companies striving to achieve ESG(Environmental, Social, and Governance) goals. Just Renew ECO! We renew the environment.

ECORENEW focuses on protecting the environment by effectively separating and recycling oil through high-efficiency continuous oil-water separators in the industrial wastewater treatment field, and safely discharging or reusing the cleanly filtered water to the maximum extent possible.

- So, what does ‘ECORENEW’ mean?

‘ECORENEW’ means ‘to make the environment new again’, that is, to restore it to a clean environment and pass on a sustainable future to descendant.

- What about the ECORENEW team?

We have total 11 employees, including 5 alumni fr|om Postech. Our company consists of 7 full-time employees, with 5 Ph.D. staff.

- ECORENEW’s CI is unique. What is the meaning?

We divided a single drop into upper and lower parts, symbolizing water and oil through color. The green line that diagonally crosses the center represents the perfect separation technology of water and oil. It expresses ECORENEW’s firm determination to pass on a sustainable future to descendant.

- We are curious about the startup story.

We founded the company through a technology collaboration with an advisor fr|om Postech. The advisor wants to commercialize the nano-surface control technology, which had been developed over 20 years with government and industry funding, and return it to society. It is aligned with the current CEO’s vision, who had been dedicated to research in environmental and energy fields, leading to the establishment of the company.

We have launched products featuring 2D metal mesh nanofilter and 3D polymer depth nanofilter through our core nanofilter manufacturing technology.

We applied nanofilter with controlled surface wettability, achieved through nano-surface treatment to the membrane structure, to oil-water separators. By utilizing superhydrophilic that only allow water to pass through and superhydrophobic nanofilter that only allow oil to pass through, we developed high-performance continuous oil-water separator.

We are designing modular filter that can be customized to meet the specific needs of our clients, with Capacity-variable and tailored to individual companies. We are also working on optimal design for modularization.

‘superhydrophilic polymer depth filters’(left) and ‘metal mesh nanofilter’(right).

- First, please explain ECORENEW’s ‘nanofilter’.

We produce two types of nanofilters: ‘metal mesh nanofilter’ and ‘superhydrophilic polymer depth filters’.

The ‘metal mesh nanofilter’ is a ‘2D metal nanofilter’ that can selectively separate water and oil. It has good durability and can be manufactured in various sizes, allowing for direct installation in industrial equipment. This enables immediate separation of wastewater, contributing to reduced odors and the reuse of separated wastewater.

It features advantages such as:

▲Long lifespan through cleaning ▲Applicability to various viscosities of oil ▲Versatility through modularization

The ‘superhydrophilic polymer depth filter’ is a ‘3D superhydrophilic nanofilter’ that selectively and rapidly separates water through nano-surface treatment. It offers excellent usability and can instantly separate wastewater in high volumes, making it highly suitable for use in industrial equipment.

The advantages include:

▲High-capacity filtering performance ▲High durability for long lifespan ▲Versatility in various size ▲Compatibility with existing housing types.

‘Capacity-variable RenewFlow’(left) and ‘Compact RenewFlow’(right).

- Please also tell us about the ‘oil-water separator’.

There are also two types of oil-water separators: the ‘Compact RenewFlow’ and the ‘Capacity-variable RenewFlow’.

The ‘Compact RenewFlow’ is a compact and lightweight continuous oil-water separator designed for industrial wastewater separation. It utilizes both superhydrophilic and superhydrophobic nanofilters, and features automated control technology that allows for adjustments to flow rate and efficiency. The separated water and oil can be reused without undergoing physical changes.

It has advantage such as:

▲Compact and lightweight design for excellent portability and installation practicality ▲Automated control for customized flow rate and efficiency adjustments ▲Ability to reuse separated water and oil.

The ‘Capacity-variable RenewFlow’ is a modularized continuous oil-water separation system that utilizes superhydrophilic filters to provide customized treatment capacity and separation efficiency for individual client needs. The separated water can be reused for circulation and purification, while the separated oil can be reused as refined oil.

It has advantage such as:

▲Modularized filter design for Capacity-variable ▲Easy cleaning through filter cleaning lines ▲Extended filter lifespan through the use of pre-treatment devices

- What is ECORENEW’s core value?

ECORENEW is a company that values the environment and human as its core values.

Under the value that the current environment is borrowed fr|om descendant and must be used and returned in a clean state, we present a vision of developing technologies that can restore the environment to a clean and beautiful state, and improve the working environment and health of workers.

- What kind of positive changes can ECORENEW’s core values bring to client companies?

Client companies can expect benefits such as:

▲Improved worker health through improved working environments ▲Reduced wastewater treatment costs ▲Cost saving through wastewater recycling ▲Improved productivity in the wastewater treatment process ▲Compliance with domestic and international environmental regulations ▲Establishment of a foundation to respond to global ESG standards.

- That’s impressive. We suppose the differentiation fr|om existing products is also quite clear.

That’s right. Our key originality is that our solution enables fast and customized wastewater/oil treatment at a reduced cost.

First, our originality is ‘instant separation’. Unlike existing products that use buoyancy-based separation methods, our nanofilter technology enables ultra-fast oil-water separation. Traditional buoyancy-based separation methods take a long time to separate water and oil naturally, which can lead to oil spoilage and resulting odor issues.

Second, ‘miniaturization’ is another significant feature. Existing products require massive tanks to separate water and oil, whereas ECORENEW’s products are ‘miniaturized’ and can be installed in small spaces. They are so compact and lightweight that one person can easily carry them around.

Third, ‘high efficiency’ is another key feature. Our nanofilter and automated control system enable excellent oil-water separation efficiency. The treated water contains less than 5ppm of oil, and the oil contains less than 80ppm of water.

Lastly, ‘recycling’ is another key feature. With existing products, the separated water and oil have low purity, making it necessary to reprocess or discard them. However, with ECORENEW’s products, the separated water and oil have high purity, making them suitable for recycling. The water can be reused as industrial water or circulated for further purification, and if not needed, it can be safely discharged due to its high cleanliness. The oil can also be reused without any issues.

In addition, other advantages include:

▲Versatility in various applications, such as industrial, marine/shipboard, and household use ▲Excellent durability of the nanofilter.

- Do you frequently participate in trade shows and exhibitions?
We are making efforts in various ways to promote ECORENEW’s products.

We promoted our products at the Korean Society of Mechanical Engineers event held in Yeosu last April.

We plan to exhibit at the AMSM 2024 (Active Materials and Soft Mechatronics) international conference, which will be held in Songdo, Incheon fr|om October 27 to 30. Additionally we will participate in the ILS Innovation 2024 (Innovation Leaders Summit) in Tokyo, Japan fr|om December 2 to 5.

We also plan to participate in CES 2025, which will be held in Las Vegas, USA fr|om January 7 to 10 next year.

Starting next year, we plan to participate more actively in various environmental and ESG-related exhibitions held domestically and internationally, and focus on promotion and sales.

- As a company housed at the Sungkyunkwan University Startup Incubation Center, what benefits do you enjoy?

It is very efficient for me to perform both roles as CEO and professor. In terms of research and development, it is also very efficient to utilize manufacturing equipment as well as handle chemical reagents.

Most importantly, the center provides various forms of support, including mentoring. Additionally, the rent is much lower compared to external offices, which is a significant advantage.

- We think there must be challenges in running a company.

Since we lack experience in producing finished products and sales, it’s not easy to find customers. We also face challenges in securing fixed costs for operation, hiring new employees, and other related issues.

- When do you feel a sense of fulfillment in your business activities?
I feel a sense of fulfillment when I see, with my employees, the excellence and uniqueness of our product’s performance. It’s also the same when our product’s performance is verified during the Proof of Concept (PoC) stage.

Even though we’re still a small startup, I feel fulfilled when our differentiated technology and corporate vision are recognized.

In particular, it’s not easy to pay salaries to employees, but I feel a great sense of fulfillment when they receive fair compensation and incentives for their achievements.

- What are your future vision and plans?

We will strive to produce and supply products that can purify the vast amounts of wastewater emitted by domestic industrial factories, improving the working environment and health of workers, and enabling the recycling of resources, ultimately laying the foundation for passing on a clean environment to future generations.

We aim to expand our existing technology to marine and shipboard applications, taking the lead in protecting the marine ecosystem, and also plan to extend our reach to the petrochemical and bio industries.

- Is there anything you’d like to say or emphasize as a final note?

We aspire to grow into a company that is neither excessive nor lacking. We will strive to become a socially responsible startup that contributes to society and grows into a global company, with all our employees doing their best.


Reference: NewsQ (https://www.newsq.kr/news/articleView.html?idxno=115534)

Ecorenew and Kingo Spring officials are taking a commemorative photo after signing an investment memorandum of understanding/Photo courtesy of Ecorenew

EcoRenew (CEO Dukhyun Choi), a developer of oil-water separation systems based on innovative nano-filter technology, announced on June 13 that it had signed an investment memorandum of understanding with Kingo Spring.

Ecorenew is a company developing a next-generation oil-water separation system by combining nanofilter technology and automatic control technology. They are developing an innovative 'nanofilter' that can immediately separate industrial wastewater and marine oil spills, and an 'automatic control'-based 'capacity variable high-efficiency continuous oil-water separation system for recycling' that can be designed with customized capacity/efficiency.

Dukhyun Choi, CEO of Ecorenew, said, “Through this investment, we plan to focus on research and development and expand marketing and sales activities for entering overseas markets,” adding, “We will grow into a global environmental company based on our innovative nanofilter technology.”

Kingo Spring is an accelerator established based on the entrepreneurship education expertise and network of Sungkyunkwan University’s Global Entrepreneurship Graduate School. It supports corporate growth through investment, education, and acceleration programs for entrepreneurs by utilizing the university’s various infrastructures and know-how.



Reference : NewsQ(http://www.newsq.kr/news/articleView.html?idxno=103646)