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2023. March VOL. 660
- 2023. March VOL. 660
- ENG
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2023. March VOL. 660
1
The Ministry of Environment and K-water are working together on the pilot project for the supply and support for hydrothermal energy, under which the government provides up to 50% of the cost of installing hydrothermal energy facilities to private and public organizations, and local governments do so for three years from 2022 to 2024. They have selected nine organizations including the Samsung Medical Center, to which hydrothermal energy will be supplied, in a public invitation in March 2022. K-water signed an outsourcing contract on the pilot project for the supply and support for hydrothermal energy on February 1, 2023 to begin construction.
K-water is responsible for the entire process of the project, including selecting the project operator and executing and post-project managing government subsidies. It also serves as a consultant to private organizations and local governments on carbon reduction. Ever after the pilot project is over, K-water plans to supply 1GW of hydrothermal energy by 2030 in a bid to save 427 GWh in annual electricity use and reduce greenhouse gas emissions by 217,000 tons, which is equivalent to planting 3.3 million pine trees.
2
K-water has been designated by the Ministry of SMEs and Startups as the manager of 2023 Initial Startup and Startup Leap Package Project. K-water is the first public organization that has received the designation, and has been designated as such for two times in a row.
The Initial Startup Support Package aims to help startups solidly secure their presence in the market and grow by providing support for commercialization to startups that are less than three years old and boast promising products or technology. The Startup Leap Package targeting startups that have been in business for three to seven years also facilitates their commercialization to help them overcome the “Death Valley” crisis and scale up their business.
To identify and support startups with growth potential, K-water will provide momentum for technological innovation of startups, help them establish their presence, and increase channels of sales in the global market by contributing to developing innovative technology and extending support for demonstration and verification in connection with the K-Test Bed.
3
On February 14, 2023, K-water has launched “RUN & POP!”, a metaverse for climate change-tackling challenge. It is a virtual channel of communication designed to allow people to have fun and experiences to cope with climate change.
The metaverse that is familiar to the young generation will be used to help K-water employees and other people better understand its business strategies and mobilize a consensus. Based on the concept of the ‘endless cycle of water, the future of K-water when its strategies are fulfilled is presented in 3D.
And users can virtually experience what it would be like being in the future. Key elements of each strategic business, such as water security, water sharing, and water convergence have been placed as 3D objects in the virtual space. Anyone can access the metaverse via a mobile device, and gain first-hand experience on K-water’s business strategies in the 3D virtual space.
4
On February 15, 2023, the Ministry of Environment and K-water held the kickoff ceremony for the pilot project for the advancement of ICT-based water gate measurement for dams on the island of Flores, Indonesia, at the Ministry of Public Works and Public Housing in Jakarta, Indonesia.
The project focuses on sharing Korean-style smart water management technology developed to secure a stable collection of water resources data and overcome disasters amid accelerating climate change. Under the project, K-water will make plans to improve water gate observation, create an automatic rainfall-water level and flow observation facility, build an integrated monitoring center, and invite Indonesian facility operators for training. The project is expected to improve the water resources data collection infrastructure, help develop and manage water resources in the eastern region of Nusa Tenggara, and contribute to preventing flood-caused damages. The ministry is currently working on the construction of Sistem Informasi Hidrologi dan Kualitas Air (SIHKA), an integrated national water resources data management system.
The Ministry of Environment is working with Indonesia in various different cooperation projects including the Denpasar Smart Water Management Project jointly with K-water in terms of an ODA program, Karian-Serpong Metropolitan Water Supply Project, and New Capital Carbon Neutrality Water Supply Infrastructure Project.
5
On February 21, 2023, the K-water head office for the Yeongsang and Seomjin River basins held a rally to encourage citizens to meet the water-saving goals and overcome droughts in the Yeongsang and Seomjin Rivers basins. The head office pledged to implement water-saving measures within its facilities to reach tap water-saving goals, help local governments under the voluntary water-saving and demand adjustment agreement meet their water-saving goals, and assume an active role in raising public awareness on the issue of drought through various campaign activities. Amid the prolonged drought, municipalities in the Jeonnam area to which the Juam Dam and Pyeongnim Dam supply water signed an agreement with K-water on voluntary water-saving measures and demand adjustment so as to reduce water use by 20% in phases. In an effort to help these municipalities fulfill the agreement, K-water is distributing water-saving devices including water saver faucets, water-saving shower heads, and water saver faucets for kitchen sinks.
6
On February 21, 2023, K-water was celebrated with the Green Bond Award in the sustainable capital market category at the Asset Triple-A Awards 2022 published by The Asset, a global financial magazine. The green bonds, one of the ESG bonds, is a special-purpose bond issued to finance environment-friendly projects. K-water was highly praised by The Asset for K-water’s successful issuance of USD 350 million in green bonds in April 2022, which is the largest-ever amount issued by K-water despite the challenging external circumstances, with the funds being used to implement environment-friendly projects including responding to disasters from climate change and through carbon-neutral water management. K-water expects that public commendation for its investments in eco-friendly, sustainable projects will likely make it easier for K-water to raise more funds for future projects.
