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[Alpha Biz=(Chicago) Reporter Paul Lee] Lotte has decided to withdraw from the nutrient dispenser (quantitative dispenser) market, which had been controversial for copying startup ideas.
The Ministry of SMEs and Startups announced on the 23rd that the technology dispute over the nutrient dispenser between startup Algocare and Lotte Healthcare was finalized through the SME technology dispute settlement process.
Under the adjustment, Lotte Healthcare will withdraw from its nutrient dispenser business, while the two companies agreed to strive for mutual cooperation and co-prosperity and not to make wasteful slander.
Algocare presented a personalized nutrition dispenser at CES, the world's largest IT exhibition, from 2021 to this year, and received the CES Innovation Award for three consecutive years. Algocare raised suspicions of technology theft when Lotte Healthcare displayed similar products at CES 2023 this year. When Lotte proposed an investment in Algocare in 2021, Algocare showed prototypes and demonstrated them, but investment negotiations have since broken down.
When suspicions of technology theft were raised, Lotte Healthcare countered, "The products of both companies are different in shape and function." Since then, the Ministry of SMEs and Startups has begun the technical dispute settlement process and listened to the positions of the two sides alternately, and a mediation plan for Lotte to withdraw from the market has been finally accepted.
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