Korea’s First MOU on Easing Bipolarization in the Water Industry

K-water, the Mutual Growth Committee and 10 participating SMEs signed the Agreement on Win-Win Partnership for Easing Bipolarization on July 13 at the Hangang River Basin Head Office.
The agreement was intended to facilitate win-win partnership activities between K-water, the participating SMEs, and the Mutual Growth Committee so as to help the SMEs gain a competitive edge, alleviate bipolarization between large and small businesses, and promote their cooperation for the creation of a conducive and constantly-evolving water industry ecosystem. The agreement is heralded as the first agreement that addresses the issue of bipolarization since the new government was inaugurated.

Under the agreement, K-water will identify 100 companies that can serve as win-win cooperation and partnership models, conduct joint technology development, provide test beds, create regional new deal venture funds and a win-win cooperation fund, and operate win-win partnership programs with a total budget of KRW 285.1 billion for three years to reduce bipolarization by nurturing venture startups and promoting win-win partnerships between large and small businesses.
The Mutual Growth Committee will actively help SMEs with promising technology expand their sales channels and set up meetings with potential buyers as part of efforts to address bipolarization and promote mutual growth. The participating SMEs are expected to reinforce their innovative efforts including R&D and greater productivity, and improve the quality of their products and services, as well as their price competitiveness.
K-water plans to promote innovative and mutual growth alongside SMEs and venture startups as we continue with ESG management.