K-water Report : Water, Nature and Humankind

K-water Report
The digital platform wateRound serves as a useful tool to develop new markets by connecting Korean companies to the global market
Digital-based platforms have created new markets, which leads to rapid business growth. The water industry is no exception. K-water is leading the digital
transformation in water management through wateRound. This cloud-based digital platform makes it quick and easy to release water solutions and introduce
them to the global market. As a result, it is accelerating the advent of a digital platform government and contributing to the expansion of a global business.
Text by Haeng-jwa Choi Source K-water

wateRound

K-water is actively involved in helping water-related companies pursue innovation and grow by providing one-stop services throughout the entire business process from designing digital water solutions to development and distribution.

K-water leads a digital transformation in water management

Today, AI has become ‘a part of our everyday life’ with easy access to technology, thus creating a butterfly effect caused by ChatGPT. Super-giant AI is becoming increasingly integrated into digital technology. It was announced in April that the government is working on creating a digital platform government under the ‘plan to create a digital platform government’.
Against this backdrop, the global digital water industry is expected to grow. South Korea has the second largest number of water-related registered patents after the U.S. As a result, the country provides multiple ideas to innovate the water industry, which will lead to the great growth potential of the water industry.
K-water is accelerating the digital transformation in water management by integrating digital technology into its water management competence and resources. ‘Digital GARAM+’ that the company launched in March 2022 is part of the digital transformation. It is a smart water management platform that consists of six areas including monitoring, flood, drought, water cycle, water quality and dam safety. The digital transformation also includes a pilot project for constructing a digital twin for water pipes at water treatment plants and the smart sensing technology AI-driven smart water network management project.
K-water is working to introduce digital and smart technology including AI-based water treatment plants and smart water network management in order to create a futuristic water supply system and ensure water supply stability. The company is also nurturing startups and in-house venture companies to build an ecosystem for water industry innovation based on 4th Industrial Revolution technology in collaboration with 174 innovative startups, and has added to the momentum to spur these startups’ growth by matching them to startup support funds and setting up water industry-specialized funds.

Consultations on exports to Vietnam and business meetings

Cloud-Based wateRound

K-water’s digital water platform called wateRound represents a major step forward in creating a digital platform government. wateRound is a cloud-based digital water platform designed to make it quick and easy for multiple participants including corporations, startups and academia to develop innovative water solutions and market their solutions globally. Recently, smart innovative technology and the digital high-tech water industry has shown rapid growth. Given the global trend of digital transformation, it is necessary to build a playground for digital innovation required to cope with global water issues and promote the growth of the water industry. In this context, wateRound has dominated the spotlight with market attention. After one-year preparation, K-water has launched wateRound at the 9th World Water Forum on March 22, and officially started its operation in July.
The key features of wateRound are △ the marketplace where users can buy and use water solutions, △ provision of data necessary for the development and analysis of solutions, △ integrated search of water-related technology and academic data, and △ an open community for analysis, utilization and execution of big data. Currently there are 35 types of water-related digital solutions available on wateRound, including an intelligent water leakage management system and a digital twin-based integrated water management platform, which are provided to K-water, other public organizations and corporations to help deal with water issues faced by their workplaces.

CES 2023 K-water booth

“By operating wateRound,
K-water will be able to compete
better in the global water market.”

wateRound, a Tool for Global Business

A number of projects are currently under way to create an ecosystem for innovations in the global digital water industry. To that end, K-water’s strategy is to promote wateRound as a global water platform by finding corporations at home and abroad with high growth potential to participate in the project and cooperating with global cloud and water companies. The construction of the ecosystem will begin by bringing together industry, academia, research and government, and it will be expanded into a global network to ultimately speed up the digital transformation of Korea’s water industry and result in generating global business. Also, K-water will create an advanced and cutting-edge support system throughout the entire cycle from solution design to transactions and services, and plans to build and open a digital demonstration lab. ‘The Digital Water Industry Manpower Development Project’ is also under way to secure a sufficient pool of experts on digital convergence to lead the construction and operation of platforms and development of solutions.
This will serve as a new growth engine for the national economy by eventually generating global business in digital water solutions and in turn allowing participating companies to expand their business globally. More water management solutions will be provided through platforms, and successful global expansion of participating companies will result in developing unicorns under K-water’s well-organized global expansion support program.
The digital water platform wateRound will be operated based on K-water’s know-how acquired in the course of developing digital water technology and creating a water industry innovation ecosystem. With the platform in action, K-water will also have a positive impact on creating a digital platform government and enhancing the global competitiveness of Korea’s water industry.

Digital water platform launching ceremony
Search for participating companies and business meetings

Sang-hoon Cha, CEO, WI.Plat

WI.Plat, K-water’s in-house venture startup focuses on solving water leakage issues by capitalizing on innovative technology. The company develops and provides ‘intelligent water leakage management systems’ based on IoT, AI and the cloud. WI.Plat’s technology and solutions can be advertised and implemented through wateRound, while the digital water industry ecosystem, once completed, will be used to find potential buyers of the technology and solutions, facilitating its global expansion. WI.Plat will aim to be a unicorn in the water industry through wateRound and use its innovative digital technology to address global water issues.