[Asia Economy Reporter Kim Bo-kyung] The Ministry of Environment and the Korea Environment Corporation signed a business agreement on the 16th at Daegu City Hall with Daegu Metropolitan City, Samsung Engineering, and the National Water Industry Cluster Resident Companies Council to support the overseas expansion of water companies.
The National Water Industry Cluster is a facility established within the Daegu National Industrial Complex to provide full-cycle support from technology development, performance verification, commercialization, to overseas expansion for water companies. Since July last year, it has been operated on consignment by the Korea Environment Corporation, with a total of 52 water companies residing there.
According to this agreement, Samsung Engineering's Industrial Environment Business Division plans to move into the National Water Industry Cluster starting in October to expand the domestic application of the latest sewage treatment technologies and promote co-growth based on public-private cooperation.
The National Water Industry Cluster Project Group will support resident companies, including Samsung Engineering, in utilizing demonstration facilities related to the water industry for water technology research and development.
Daegu City will support the application of water technologies and products from Samsung Engineering and resident companies to local water supply and sewage projects. Samsung Engineering plans to actively utilize the technologies and products of resident companies in domestic and overseas production facility projects.
Furthermore, the Ministry of Environment and the Korea Environment Corporation plan to steadily lay the foundation for co-growth in the domestic water industry through human, technical, and administrative collaboration with Daegu City, Samsung Engineering, and resident companies, starting from this agreement.
The National Water Industry Cluster Project Group will continuously support water companies by providing free testing and analysis services across all water-related fields.
Kim Dong-jin, Director of the Water Resources Policy Bureau at the Ministry of Environment, stated, "This business agreement will greatly help technology exchange and co-growth with Daegu City, Samsung Engineering, and resident companies, as well as support the domestic and international market expansion of our water companies. We will strengthen co-growth cooperation activities to support water companies struggling due to COVID-19."
Jang Jun-young, President of the Korea Environment Corporation, said, "This business agreement will serve as an excellent case of co-growth and overseas expansion between leading water industry companies and small and medium water companies. We will continue to explore various ways to support domestic and international market expansion together with the National Water Industry Cluster."
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