BUSINESS

K-water vows to lead Asia’s water industry

By Shim Woo-hyun
  • Published : Sept 24, 2017 - 15:35
  • Updated : Sept 24, 2017 - 15:35
Korea’s state-led water company K-water has wrapped up its co-hosting of the first Asia International Water Week at Hwabaek International Convention Center in Gyeongju, North Gyeongsang Province.

Along with the Asia Water Council, K-water hosted the triennial water industry event from Wednesday to Saturday to devise solutions for water issues around the globe, as well as to foster the industry in Asia.

A total of some 15,000 officials from the government and international organizations across 69 countries participated.

During the event, K-water set up the Water Industry Platform Center to help local small- and mid-sized water companies to introduce their products and technologies. K-water offered to provide financial and technological support, as well as overseas business opportunities. Korean pump manufacturer Hyosung Goodsprings and 39 other local small and mid-sized companies signed business agreements with K-water and discussed overseas sales strategies.

Through such platforms, K-water aims to help create some 100 venture businesses here with 600 billion won ($529 million) of financial support by 2021. The company expressed hopes to create around 12,000 new jobs.

K-water CEO Lee Hak-soo delivers a speech at the first Asia International Water Week held in Gyeongju, North Gyeongsang Province, Wednesday. (K-water)

“K-water will continue to provide platforms where domestic companies can test and introduce their own products,” said K-Water CEO Lee Hak-soo. “The company will also share information, technologies and know-how with local companies to help them increase sales and create new job positions here and abroad,” Lee added.

K-water also held a separate forum to foster business talks between Korean water companies and officials from other countries. Representatives from six countries including Indonesia, Thailand and Cambodia held government-to-business sessions with Korean companies and multilateral development banks, including the Asia Development Bank, World Bank, Asia Infrastructure Investment Bank, Central American Bank for Economic Integration and Pakistan’s Patrind Hydro Power.

The banks also held sessions to introduce their investments in water industry-related projects.

Meanwhile, Korean and overseas water experts gathered to share solutions for water issues such as algae blooms and water shortages.

K-water CEO Lee, who is also the head of the Asia Water Council, also emphasized the importance of solving water-related problems that are currently increasing with population growth in Asia. By issuing the “Asia to World Statement,” the CEO also vowed to put effort into solving water supply issues around the globe.

“The AWC vows to carry out the guidelines of the statement and share the results at the World Water Forum, which is to be held in Brazil in 2018,” Lee said. 

By Shim Woo-hyun (ws@heraldcorp.com)