K-water expands support for water companies' overseas expansion, offers global testbed

[Financial News] Korea Water Resources Corporation (K-water) will expand local technology demonstration opportunities and market-entry support to help domestic water companies enter overseas markets.
On the 1st, K-water invited 56 domestic water companies, including members of its overseas market development delegation and the Asia Water Council's AWC Business Council, to its headquarters in Daejeon for the Networking Day for Joint Overseas Expansion.
At the event, K-water shared the status of its overseas projects, business conditions, and areas where companies can cooperate. It also outlined plans to expand tailored support strategies based on export capabilities and to provide more opportunities for a global testbed where domestic technologies can be verified overseas.
The overseas market development delegation is a program that supports domestic water companies' participation in overseas exhibitions, trade missions, and local market development. Launched in 2018, it now includes 68 participating companies and recorded export performance of 116.6 billion won last year.
The event also highlighted examples of overseas pilot projects by water companies that used the joint overseas expansion support program for large and small companies. The program helps small and medium-sized companies secure local marketing and sales channels by leveraging the overseas networks and infrastructure of public institutions and large corporations. Some participating companies have gone on to sign additional export contracts with neighboring countries after local technology demonstrations and commercialization.
During the discussion, companies raised the difficulties they face when entering overseas markets and the support measures they need. Based on the feedback, K-water plans to improve its support system for overseas demonstrations and joint expansion.
K-water expects demand for water management efficiency, water reuse, and digital water management technologies to rise as the world responds to the climate crisis and shifts toward carbon neutrality. The global climate tech market is projected to grow to about 200 trillion won by 2032.
Yoon Seok-dae, president of K-water, said, "Based on K-water's overseas project experience and network, we will systematically support domestic water companies from technology demonstration to market development, contributing to stronger competitiveness in Korea's water industry."
[email protected] Choi Ga-young Reporter