Oysterable (CEO Bae Tae-gwan) participated in the ‘4 World IT Show (WIS 19)’ held at COEX in Seoul from Wednesday, April 21 to Friday, April 2023.
Oysterable is a startup that conducts business with the goal of establishing a resource circulation system and establishing a stable circular economy by continuing research and development on innovative technologies and services. As part of this, the company explains that it is commercializing the AIoT smart resource circulation system ‘LalaLoop’ to solve the problem of waste and disposable products and contribute to carbon neutrality.
Their smart resource circulation system, LalaLoop, is a platform that promotes proper separation of disposable items and the use of reusable containers through smart recycling hardware and a dedicated application (app). It operates by replacing disposable containers that are discharged after ordering delivery food with reusable containers and collecting them in an unmanned return machine. An incentive worth 2,000 won is provided to members who return a reusable container.
In addition, it can be used by linking the smart recycling bin with AIoT function with the ‘Today’s Separation’ app, and the ‘LalaLoop’ reusable cup return machine, which has been introduced to franchise cafes such as domestic Starbucks since July 2021, You can also utilize the platform through.
At this exhibition, Oysterable also introduced LalaLoop to the public, and through this, plans to encourage access to and use of the LalaLoop platform. An official from Oysterable revealed the reason for participating in this exhibition, saying, “By introducing innovative solutions that can solve environmental problems caused by household waste, we wanted to let people know that practice and action are not difficult.”
There are also tangible results achieved through platform operation to date. An official said, “As of early 2023, we recorded a cumulative number of 8 users and 1.5 active users, and approximately 580 million reusable cups were returned.” “There are 122 reusable cup reuse solutions nationwide; “20 units of the multi-use container reuse solution have been installed and are in operation,” he said.
Oysterable plans to establish a new circular economy system centered on recycling and draw global interest in protecting the global environment. An official said, “Based on our experience with commercialization in Korea, we are receiving proposals from various countries in the U.S., Europe, and Asia where global smart cities are built and carbon emissions trading is active,” adding, “We previously introduced the solution at CES 2022 and MWC 2023 and invited various overseas companies.” “We have met with decision-makers from various organizations and organizations, and are discussing opportunities for collaboration with them,” he explained.
He continued, “Furthermore, we are developing a reuse solution to help recycle reusable shopping carts and delivery boxes, and in addition, we plan to build a variety of new lineups based on our existing portfolio.” He also added, “In addition, in line with the government’s firm commitment to achieve carbon neutrality, we are promoting resource circulation.” “We plan to continue discussions to transform the entire system into public infrastructure,” he said of his future plans.
Meanwhile, the ‘World IT Show’, a one-stop platform for digital transformation, is a representative exhibition leading the next-generation high-tech industry. The 2023 World IT Show, with the slogan ‘Changing our life, K-Digital’, will feature ▲AI platform, Internet of Things (IoT), cloud, and ICT convergence services ▲Smart home, office, and home appliances. and smart healthcare ▲Intelligent mobility and robots such as autonomous driving, UAM, drones, etc. ▲Digital Twin & Metaverse (XR technology) ▲Cloud and software ▲Security software & Blockchain (NFT) ▲The latest technologies and products in the field of quantum information science Exhibited and introduced. In addition, the ‘WIS 2023 Innovation Award’ and the ‘2023 Korea ImpaCT-ech Grand Prize’ were awarded to the technologies and products that attracted the most attention among participating companies.