[SBA x IT Donga] The Seoul Business Agency (SBA) leads the super-gap open innovation that connects startups researching the top 10 super-gap technologies with large and mid-sized companies for mutual growth. This article introduces the capabilities and achievements of promising startups that will thrive globally based on super-gap open innovation.

Steel is referred to as the 'rice of industry' because it is a key material that forms the foundation of modern industries, from automobiles to shipbuilding, construction, and machinery. According to statistics from the Korea Iron & Steel Association, South Korea's crude steel production is projected to be 63.55 million tons in 2024, ranking sixth globally. However, the steel industry, which has enriched human life, now faces the challenge of 'carbon neutrality.' The global strengthening of carbon regulations and the spread of ESG (Environmental, Social, and Governance) management have also impacted the steel industry.

The steel industry consumes energy and emits large amounts of greenhouse gases due to the nature of its manufacturing processes. According to data from the Ministry of Climate and Environment, the greenhouse gas emissions from South Korea's steel industry in 2024 are approximately 651.4 million tons, accounting for 15% of the total. Although there is a trend towards using electric furnaces instead of blast furnaces that burn fossil fuels to produce molten iron, the greenhouse gas reduction effect is viewed as limited.

The industry is focusing on the use of 'Rolling Rolls,' components used in the steel manufacturing process. Rolling is a processing method that passes metal materials between two rotating rolls to lengthen or thin them. During the processing, the rolls are exposed to high heat and pressure. Even high-strength rolls can become worn and cracked after repeated processes, leading to their disposal. Approximately 180,000 tons of waste rolling rolls are generated annually from domestic steel mills. Discarded rolling rolls are melted again in furnaces for reprocessing, emitting large amounts of greenhouse gases.



There is a company that has discovered new value in old rolling rolls, which were considered waste. That company is POREMCO, a rolling roll recycling company. POREMCO collects rolling rolls destined for disposal and breathes new life into them with precision processing technology. The performance is maintained at the same level as new products while reducing costs and carbon emissions. POREMCO's technology is a fresh shock to the conservative steel industry. How did POREMCO come to challenge the rolling roll recycling field? A conversation was held with Si-Woo Yim, CEO of POREMCO.

Finding 'Sustainability' in a 36-Year Steel Career

“I was in charge of rolling roll-related work in the steel industry. Seeing the rolls discarded after a certain period of use felt like a waste. Rolls that have been used to some extent can be sufficiently recycled with proper processing.”

CEO Si-Woo Yim is an expert who has overseen rolling roll management in the steel industry for 36 years. He founded POREMCO, believing that utilizing unnecessarily replaced rolling rolls could achieve carbon neutrality and create new value. He focused on the recyclability of discarded rolling rolls, estimating that out of the approximately 180,000 tons of waste rolling rolls generated annually, 60,000 tons are recyclable.

Coincidentally, ESG management became a hot topic across industries. As a climate tech company, POREMCO was confident it could contribute to reducing carbon emissions while enhancing the cost competitiveness of the steel industry. Thus, POREMCO established the 'Eco Roll' business model, which involves collecting and reprocessing discarded rolling rolls.



POREMCO's method of recycling rolling rolls is as follows. First, rolling rolls scheduled for disposal are collected from steel mills and undergo inspection and reprocessing to be made into smaller sizes. The reprocessed rolls are used in other rolling lines.

The competitive edge of Eco Rolls lies in their price competitiveness. CEO Si-Woo Yim stated, “We can lower the price by about 40% compared to new products. Since the rolls are reprocessed, there are no raw material costs. The performance is at the same level as new products.” Shortened delivery times are also considered an advantage. Due to their large size, it typically takes 6 months to a year to manufacture new rolling rolls. In contrast, POREMCO's Eco Rolls can be completed in 3 months as the casting process is unnecessary, effectively halving the delivery time.

As an upcycled product, Eco Rolls focus on quality control. POREMCO conducts ultrasonic testing four times to assess cracks and durability. CEO Si-Woo Yim explained, “When we collect waste rolls, the first thing we do is conduct ultrasonic testing. If defects are found, they are immediately discarded. We repeat ultrasonic testing at each stage of the processing. Cracks can occur during the heat treatment process, so we conduct a final inspection before shipment.”

POREMCO's thorough quality management system is its core competitive advantage and a strategy to alleviate concerns from steel mills that have experienced issues with broken rolls when using recycled rolls.

Helping the Challenged Steel Industry with Cost Reduction

CEO Si-Woo Yim's concern with developing Eco Rolls is the challenges faced by the domestic steel industry and securing empirical data. The steel industry is currently in crisis. China is entering the global steel market with low prices. While domestic steel mills still have a quality advantage, the industry fears that this too will be caught up over time.

POREMCO emphasizes that Eco Rolls will contribute to strengthening the competitiveness of the domestic steel industry, in addition to overcoming environmental issues. CEO Si-Woo Yim stated, “Rolling rolls are classified as strategic materials in steel mills. Reducing these costs leads to overall cost savings. If Eco Rolls are used for just 10% of the KRW 800 billion domestic rolling roll market, steel mills can achieve 30-40% cost savings.”



Eco Rolls also help reduce greenhouse gas and carbon emissions. By not putting waste rolls into furnaces, carbon emissions are reduced. POREMCO is testing Eco Rolls through large domestic steel groups. In June 2025, four sets of Eco Rolls were delivered, and the test is about 80% complete. The test results are expected in December 2025 or early 2026. POREMCO plans to accelerate Eco Roll sales based on the measured data.

Empirical data is crucial for POREMCO. CEO Si-Woo Yim stated, “There is a strong prejudice against recycled rolls. The perception that recycled rolls break easily and are dangerous is deeply rooted. If positive test results come out through large corporations, that becomes a reference. I think it is the most important part from a sales perspective.”

Besides the Eco Roll business, POREMCO is also planning a business to recycle by-products of rolling rolls. This involves collecting grinding by-products generated when polishing rolling rolls and reusing them as raw materials. These by-products contain expensive alloy components such as nickel, vanadium, and molybdenum. CEO Si-Woo Yim explained that by collecting and separating the by-products and supplying them as chips or powder, the goal of resource circulation can be achieved.

Aiming to Supply Eco Rolls to Steel Mills Worldwide

POREMCO plans to enter the global steel market with Eco Rolls. It has already entered the Indonesian market and generated sales. Next, it targets advanced steel countries such as Europe, the United States, and Japan. With carbon neutrality being a global issue, POREMCO believes the competitiveness of Eco Rolls, which reduce carbon emissions, is sufficient.

The company also utilizes steel-related exhibitions and promotional support programs. POREMCO actively participates in domestic and international steel-related exhibitions to raise its profile and is involved in promotional programs provided by support agencies.



POREMCO is participating in the Seoul Business Agency's (SBA) super-gap open innovation promotional support program. This program supports the effective promotion of super-gap selected companies to enhance their external promotion and marketing capabilities. POREMCO received network support necessary for exploring overseas markets. Practical support was also provided, from prototype production to raw material procurement. CEO Si-Woo Yim stated, “Through the SBA super-gap open innovation promotional support program, we received help in improving the quality of Eco Rolls and exploring sales channels. I am confident that this program has laid the foundation for POREMCO to leap forward as a global climate tech company.”

“Under the slogan 'Green Tomorrow, Creating New Value,' POREMCO aims to create an environment for the next generation. With the mindset of sweeping a corner of the earth, we will revive discarded resources with value and contribute to opening a sustainable future for the steel industry.”

POREMCO proposed a blueprint for establishing a sustainable market through resource circulation. It plans to bring a green breeze to the steel industry by finding gems in piles of waste that others overlook. CEO Si-Woo Yim expressed his intention to secure competitiveness in the steel industry with Eco Rolls and contribute to overcoming the climate crisis.

IT Donga Reporter Kang Hyung-seok (redbk@itdonga.com)

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