Participants of the 3rd Asia International Water Week adopted the “Beijing Declaration on Sept. 24 to spur sustainable development of the Asian region vulnerable to water security challenges, Korea Water Resources Corp. (K-water) said.
K-water President Yun Seog-dae, concurrently president of the Asia Water Council and China's Minister of Water Resources Li Guoying jointly signed the declaration during the 3rd Asia International Water Week held in Beijing.
Prior to the declaration, K-water President Yun held bilateral talks with Chinese Water Resources Minister Li.
The declaration stresses the need to develop solutions through innovation drives, international cooperation and knowledge sharing to step up sustainable development, thereby ensuring future water security in Asia and the world.
Ten ministers and vice ministers of eight countries, including Korea, and China as well as the World Water Council and nine other international organizations took part in the event with about 5,000 people from 65 countries in attendance.
K-water hosted a special session during the 3rd Asia International Water Week and released innovation technologies designed to cope with climate change and accelerate digital transformation for water management.
Uzbekistan’s water resources minister and vice minister of Cambodia’s Water Resources and Meteorology Ministry participated in the session.
K-water expanded the scope of cooperation in areas such as digital transformation for water management by holding panel discussions following the demonstration of the technologies.
K-water disclosed seven global leading technologies, including the digital twin water management platform, dubbed “Digital Garam+.” AI water reservoir and smart water network management (SWNM) – the top three super difference water management technologies.
The top three super water management technologies are based on digital innovation for supporting optimal decision-making through data-based predictions to cope with water disasters such as floods, drought and abnormal water quality.
They were made public for the first time during the 10th World Water Forum held in Indonesia last May.
K-water has achieved outcomes in the global water market as it has implemented cooperation projects in such countries as Saudi Arabia, Indonesia and Cambodia.
The world-class leading technologies are climate technologies designed to comply with tasks of the times, such as carbon neutrality, energy transformation, sustainable water management, and support of state-of-the-art industries, based on hydrothermal energy, sea water desalination, ultra pure water, green hydrogen, tidal power, floating photovoltaic power and groundwater storage dam.
K-water elaborated on the necessity of the super difference and leading technologies and expected outcomes and emphasized the importance of solutions designed to solve unprecedented and uncontrollable climate disasters and environment issues.
K-water predicts that huge opportunities will be opened for states and companies armed with leading technologies since the climate tech and global water markets are growing at a fast pace due to climate change.
A report issued by McKinsey & Company said the climate tech market is forecast to swell to $9 trillion by 2030 while K-water analyzed that the global water market will jump to 1,654 trillion won by 2029.
From the starting point of the Asia International Water Week, K-water plans to share the top three super difference and global leading technologies with the world and spearhead into the global climate tech market.
K-water President Yun said, “The huge green market is taking shape to address climate change and water security challenges, and countries around the world step up competition over climate tech to spearhead into the market.”
K-water will contribute to solving global water issues based on the super difference and global leading technologies and expand opportunities for new growth engines, he added.
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