Korea Water Resources Corp. (K-water) has vowed to provide clean water to the public by launching a smart water management system supported by advanced information and communications technology and replace all pipelines more than 30 years old in Korea from the beginning of this year.
"As the only government-owned company in charge of controlling water resources based on a new system, we'll do our best to help ensure people are satisfied," said K-water CEO Lee Hak-soo.
The CEO said he will be at the forefront of an intensive drive to ensure K-water becomes a leader in global water management systems. The only state-owned company whose main responsibility is controlling water resources in the country has set aside 4 trillion won to upgrade and replace pipes more than 30 years old over the next 15 years to supply clean tap water to everyone in Korea, declared CEO Lee during an interview with a local media on Nov. 11 as the company prepares to celebrate its 49th anniversary on Nov. 16.
He also remarked that the company will expand its Smart Water Project in tandem with the government plan to support the water industry to be a 50-trillion won industry by 2030, centered around the Water Cluster Complex being built in Daegu, and also by providing support to the companies at the head of developing water control-related technology.
In the process, exports of water control technology from Korea would amount to 10 trillion won annually, creating 70,000 new jobs to bring the number of jobs in the water industry to around 200,000 in the target year. "By doing so, we'll be able to create jobs through the development of special technologies," he said. "Our business model for water management is both scientific and forward-looking, and will help us expand our overseas operations in line with government policies."
K-water aims to lead the industry's growth by developing a smart water grid and an integrated water management system, according to Lee. It will also expand its overseas operations to strengthen its international role through close cooperation with foreign water resources organizations, the former professor added.
"We need to always keep the nation and the people in our minds so that K-water can become the top water resources management company in the world. We should manage K-water well so that it will be able to save the people from water-related disasters by protecting their properties." Noting a drastic increase in the number of diseases related to climate change, which have doubled in recent years, the K-water CEO said K-water will build a new water circling system combining the nation’s largest rivers including Han, Naktong, Kum and Seomjin rivers after analyzing their water quality, water volumes and ecology and develop an integrated water control system.
The integrated water control system refers to securing water from reservoirs and supplying it to end-users, and the remaining water will be used elsewhere, controlling the entire process. K-water will use sensors to check water quality by the hour to make sure that only fresh and healthy water will be supplied through its system, which shows what the Smart Water City is all about.
Korea first entered overseas water resource management markets through an official development assistance (ODA) program to help with the Fen River in Shanxi Province, China, in 1994, part of the Yellow River basin. Starting in 2009, Korea expanded its business to include direct investments. As of September 2015, Korea has completed a total of 60 water resource-related projects, including water management and power generation, in 24 other countries. Currently, it is carrying out 14 projects in 12 countries.
Korea Water Resources Corporation (K-water) signed a memorandum of understanding (MOU) for technological cooperation with the Asian Development Bank (ADB) at the headquarters on Feb. 2 to introduce smart water management technology in South Asia.
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