The substitution of animal-based foods (meat, eggs, and milk) with plant-based products can increase the global food supply. Recently, pulse cooking water (a.k.a. aquafaba) was described as a cost-effective alternative to the egg in gluten-free, vegan cooking and baking applications. Aquafaba (AQ) forms stable edible foams and emulsions with functional properties that are like those produced by whole egg and egg white. However, the functional ingredients of AQ are usually discarded during food preparation. In this study, Korean-grown soy (ver. Backtae, Seoritae, and Jwinunikong) and chickpea were used to produce AQ. Two approaches were compared. In the first, seed was cooked at an elevated pressure without presoaking. In the second, seed was soaked, then, the soaking water was discarded, and soaked seed was cooked at an elevated pressure. Both approaches produced a useful emulsifier, but the latter, with presoaking, produced a superior product. This approach could lead to a process that involves a small number of efficient steps to recover an effective oil emulsifier, produces no waste, and is cost-effective. The AQ product from Backtae (yellow soybean) produced emulsions with better properties (90%) than AQ produced from other cultivars and produced more stable food oil emulsions. This study will potentially lead to gluten-free, vegan products for vegetarians and consumers with animal protein allergies. This is the first report of the efficient production of AQ, an egg white substitute derived from cooked soybean of known cultivars.