President Chun Byung-sung of Korea Environment Corp. (K-eco).

Korea Environment Corp. (K-eco) saved 48.2 billion won last year in the installation of 42 public environment facilities with the help of design feasibility studies.

Design feasibility studies are a process in which economics and feasibility analyses are conducted in the design of public environmental facilities, including waterworks and waste water treatment facilities, to remove unnecessary functions with the goal of cutting costs and improving efficiency.

Figures released by K-eco showed that budgetary reductions through the considering of design feasibility studies amounted to 48.2 billion won in 2017, a 20.5 percent increase from 40 billion won in corresponding figures in 2016. 

The 2017 budgetary saving represents a 3.04 percent share of the 1.58 trillion won budget for the construction of public environment facilities during the year. 

The biggest savings were trimmed from a 7.1 billion won waste water distribution system in a pilot waste water management project for the Seosan municipal government, conducted in February 2017.

The K-eco, selected by the Ministry of Strategy and Finance in 2010, has been commissioned to conduct design economic feasibility studies since 2011. The corporation plans to carry out design economic feasibility studies on 44 projects this year. Central and local governments as well as public entities are required to undergo assessments on the construction of all public facilities and systems whose construction cost surpass 10 billion won.

K-eco President Chun Byung-sung said, “It takes on significance since considering a design economic feasibility study contributes to improving conditions of national coffers by eliminating budgetary wastes.” 

He added that his corporation will ramp up scrutiny so people’s tax money is not squandered. 

K-eco Wins Vietnamese Sewage Conduit Project

K-eco landed a $2 million construction supervision contract for a sewage conduit project in the second district of Hoh Chi Minh city. The project is being carried out in the form of an Official Development Assistance program under the Public-Private Environment Partnership with a loan from the World Bank.

K-eco and Sunjin Engineering signed a deal on the construction supervision service of the sewage conduit project with Hoh Chi Minh City investment and management authorities last Sept. 20. 

The location of a sewage conduit project in the second district of Hoh Chi Minh City, Vietnam, whose supervision contract was awarded to K-eco. (Photos: K-eco)