President Park Jae-hyeon of Korea Water Resources Corp. (K-water) and trade union chief Noh Chul-min pose at a ceremony to donate masks and quarantine items to merchants of a traditional market at Jungri, Daedeok-gu, Daejeon. (Photo: K-water)

Korea Water Resources Corp. (K-water) is focusing on more practical steps to share the sufferings caused by the COVID-19 pandemic as part of its efforts to realize social values.

Of late, K-water came up with a step to reduce dam and metropolitan water charges in March for mom-and-pop store owners and small businesses in the special disaster zone and in the Daegu and Gyeongsangbuk-do area, which have been buffeted by the novel coronavirus and declared a special disaster zone. Each local administrative body has been allowed to lower dam and metropolitan tap water charges in March for affected residents.

The step is expected to have the effect of mitigating 2.1 billion won in financial charges in Daegu and parts of Gyeongsangbuk-do - Gyeongsan City and Cheongdo County. Bonghwa County in Gyeongsangbuk-do was excluded from the reduction as no dam water and metropolitan city tap water is supplied to the county.

K-water plans to reduce dam and city tap water charges in 128 local automotive bodies across the nation. About 1,000 mom-and-pop owners and small businesses will benefit from a reduction in charges supplied by K-water.

Besides, K-water decided to reduce rent by 35 percent or defer rent payment for six months to mom-and-pop store owners and small businesses which are occupants of buildings it owns.

Earlier, the corporation raised the target for fiscal front-loading in the first half of the year from 425.3 billion won to 510 billion won to boost the national economy. The corporation had already executed 513.7 billion won.

K-water President Park Jae-hyeon said, “I hope the charge reduction will contribute to SMEs’ economic stability and reducing of local autonomous bodies’ fiscal burden, and K-water will commit itself to fulfilling roles as a public enterprise working together with people.” K-water is also playing a part of resuscitating the local economy, including the traditional markets.

President Park toured the Jungni Market in Daedeok-gu, Daejeon City and he participated in efforts to restore the sagging local economy and social distancing & quarantine activities.

K-water management and labor representatives dispensed 2,500 quarantine goods, including face masks, to market merchants, and they discussed ways of reinvigorating traditional markets.

K-water is striving to reinvigorate the markets, using 420 million won, contributed by K-water management and labor.
Using 300 million won, raised through donations by K-water executives and staff members as part of their salary, K-water provides financial support to 128 rank and file clubs to expedite consumption at the traditional markets.

The clubs purchase quarantine goods and daily necessities from the traditional markets and donate them to medical and welfare facilities.

K-water also set aside 120 million won, part of the in-house labor welfare fund, so that K-water executives make it obligatory to buy goods from the traditional markets to give a shot in their arm. Besides, the corporation is reducing rents to merchants and small businesses which are occupants of assets owned by the corporation.

Noh Chul-min, head of K-water trade union, said about 5,000 unionists will join forces in efforts to reinvigorate the local economy by helping merchants, struggling with economic hardships, caused by COVID-19, restore to normal as soon as possible.

K-water President Park Elected as KNCOLD Chairman

K-water President Park was elected as the 30th chairman of the Korea National Committee on Large Dams (KNCOLD) on March 29. The newly inaugurated KNCOLD Chairman Park plans to devote himself to promoting green growth initiatives and expanding joint overseas market entries.

KNCOLD was established in 1972 with the goal of exchanging information related to the construction of dams, operation and management and improving technologies through R&D development.

KNCOLD Chairman Park stressed the implementation of “green new deal projects” taking into account safety, ecology and culture by employing the technologies of the 4th Industrial Revolution in water management.

He said KNCOLD will make efforts to shift into the circular economy and help member companies make joint overseas market entries by sharing technologies and sharing information. His term will end in April 2022.