Establishing a Foundation for Joint Growth in Overseas Expansion of Leading Water Industry Companies and Small and Medium Water Enterprises
[Asia Economy Yeongnam Reporting Headquarters Reporter Dongwook Park] On the 16th afternoon, Daegu City announced on the 15th that it will sign a water industry cooperation business agreement with Samsung Engineering (Samsung ENG), Korea Environment Corporation, and others at City Hall to lay the foundation for overseas expansion and eastern growth.
The signing ceremony will be attended by Mayor Kwon Young-jin, Samsung Engineering CEO Choi Sung-an, Korea Environment Corporation Chairman Jang Jun-young, and Choi In-jong, Chairman of the National Water Industry Cluster Resident Companies Council.
Samsung Engineering, which is signing the agreement this time, is an engineering company with world-class competitiveness that has pioneered the history of South Korea's plant industry for over 50 years and has successfully carried out numerous projects worldwide. Based on abundant experience, accumulated technology, and excellent human resources, it is expanding its business areas across engineering, from refining, gas, petrochemicals to industrial facilities and the environment.
Korea Environment Corporation, selected as the entrusted operator of the Water Industry Cluster in July 2018, has been actively operating the cluster through the National Water Industry Cluster Project Group since July last year.
Through this agreement, Daegu City will support the application of water technologies and products from the National Water Industry Cluster resident companies and Samsung Engineering to local water supply and sewage projects. Samsung Engineering is expected to greatly contribute to the co-growth with small and medium-sized enterprises by actively utilizing the technologies and products of the National Water Industry Cluster resident companies in domestic and overseas plant projects.
Korea Environment Corporation will actively support the use of facilities by Samsung Engineering and other resident companies of the National Water Industry Cluster for water technology research and development.
Daegu City plans to steadily prepare support measures for market expansion in domestic and international water markets by establishing a co-growth cooperation system for the water industry through human, technical, and administrative collaboration with Korea Environment Corporation, Samsung Engineering, and resident companies based on this agreement.
Mayor Kwon Young-jin of Daegu said, "Based on the National Water Industry Cluster, the advance base of South Korea's water industry, we will cooperate with the operating institution Korea Environment Corporation to support the resident companies of the Water Industry Cluster to co-grow with leading water industry companies such as Samsung Engineering without sparing any support."
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