RECO

About RECO

RECO is a South Korean environmental technology firm tackling the inefficiencies within the nation's 25 trillion won commercial waste management market. Founded in October 2018 by CEO Keunho Kim, the company emerged from his direct experience in the waste sector after a career as a stock options trader in the U.S. and in the IT industry. This unique blend of finance, tech, and hands-on waste management insight allowed Kim to identify the market's significant information asymmetry and logistical shortcomings, inspiring a digital-first approach to a traditionally low-tech industry.

The company's core offering is 'UpBox', an integrated B2B waste management service platform. It provides an end-to-end solution for corporate clients, covering waste collection, hauling, and resource recovery for a wide array of materials, which has expanded from initially food waste to 78 different types of waste. RECO serves a diverse client base that includes hospitality, manufacturing, retail, and logistics sectors, counting major corporations like Samsung Welstory, CJ Cheiljedang, and Parnas Mall among its estimated 3,500 customers. The business model is centered on providing a transparent, data-driven service that optimizes waste disposal for its clients. Revenue is generated through fees for these comprehensive waste management solutions.

The UpBox platform is RECO's key differentiator. It digitizes the entire waste management lifecycle, providing clients with transparency and actionable data. Features include GPS-equipped vehicles, specialized containers for accurate measurement, and the 'UpBox Cloud,' a SaaS solution that allows clients to monitor waste volume, costs, and environmental impact in real-time. This system not only helps businesses reduce waste management workload by over 80% and costs by up to 15% but also integrates with the government's 'Allbaro System' to streamline administrative reporting. The service has been enhanced with AI-powered volume measurement technology to ensure data accuracy. This focus on digital transformation has attracted significant investor confidence, culminating in a $43.7 million Series C funding round in April 2025, led by Ingka Investments, the investment arm of the Ingka Group (IKEA). This capital is earmarked for nationwide service expansion and eventual global market entry.