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2023. Oct VOL.667
2023. Oct VOL.667
K-water has frozen water charges for seven years since the water rate increased in September 2016. Before Chuseok (Korean Thanksgiving Day), it announced a freeze on water charges for another two years as a follow-up measure to the government’s price stabilization policy. K-water made this decision out of a desire to return its innovation achievements to the people. A ceremony to announce a freeze on water charges was held on September 6, 2023 at the Daejeon Headquarters, attended by CEO Yun Seog-dae, K-water labor union, and corporate customers. “K-water, as a public corporation, freezes water charges with all employees in one accord in order to participate actively in the government’s price stabilization policy and contribute to enhancing national economic vitality,” CEO Yun announced at the ceremony. “We also share the view that the social role of public institutions is very important for the rapid recovery of the public economy,” Labor Union President Noh Cheol-min said, vowing that the union would also make effort for people’s happiness.
Although K-water expects an increase in the production cost of water supply, it expended its surplus energy upon the freeze on water charges through innovative efforts including digital transformation. While trying to set an example as a public institution to provide essential “water” supply services for society, K-water made such decision and set the goal of minimizing the factors causing price increases in order to contribute to the rapid stabilization of the public economy.
In relation to the announcement of water charge freeze, K-water has organized the Task Force team led by CEO Yun Seog-dae and participated in by all employees. The TF team analyzed the domestic economic conditions and reviewed international investment plans and innovation-based measures of production cost reduction. While prioritizing support for the government’s efforts to stabilize prices, all employees agreed to freeze water charges by making self-effort such as cost reduction. Accordingly, K-water plans to expand sales in the water business through timely response to water demand in newly developed areas and reduce production costs such as electricity bill for facility operation and pharmaceutical spending by establishing a smart infrastructure using digital innovative technologies such as AI.
K-water’s wide area water supply is provided to local governments and corporations, and then local governments use this to supply water to the public as the end-users. Meanwhile, K-water expects its announcement on water charge freeze to play a positive role in mitigating the factors of water charge increase by local governments.
