.jpg "Korean entrepreneurs seek long-term partnerships with Hai Phong")
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K-Water is South Korea's leading state-owned water resources company, with total assets of about USD 27 billion and annual revenue of nearly USD 4 billion.
Do Thanh Trung, Deputy Secretary of the Hai Phong Party Committee and Chairman of the Hai Phong People's Committee, on June 5 visited and held talks with Korea Water Resources Corporation (K-Water), and witnessed the signing of a memorandum of understanding (MoU) between the Hai Phong Economic Zone Authority and K-Water.
The delegation was received by Yun Seog-dae, CEO of K-Water.
K-Water is South Korea's leading state-owned water resources company, with total assets of about USD 27 billion and annual revenue of nearly USD 4 billion. The company currently manages and operates 20 multipurpose dams and 14 water supply dams, accounting for about 95% of the country's flood-control storage capacity and providing around 50% of South Korea's clean water supply.
K-Water also possesses advanced technologies in smart water network management, artificial intelligence-powered water treatment plants, renewable energy and modern water resource management solutions.
In Vietnam, the company has implemented a number of investment and technical assistance projects in Tay Ninh, Dong Nai and Ho Chi Minh City.
At the meeting, Pham Van Thep, member of the Standing Board of the Hai Phong Party Committee and Head of the Hai Phong Economic Zone Authority, expressed his appreciation for K-Water's expertise and experience in water resource management.
Hai Phong is entering a period of rapid industrial development, with 46 industrial parks covering more than 13,000 hectares and employing over 370,000 workers. This has created substantial demand for clean water supply, wastewater treatment and efficient water resource management.
The city therefore hopes to strengthen cooperation with K-Water to exchange expertise and apply advanced technologies in the management and operation of water supply and drainage systems in industrial parks and economic zones.
K-Water representatives said Hai Phong's industrial, economic zone and urban expansion presents significant opportunities but also increasing challenges in water resource management.
Given its international experience and technological strengths, K-Water pledged to support Hai Phong in implementing smart water management solutions to help ensure stable operations in industrial parks and economic zones while promoting sustainable development.
The Hai Phong Economic Zone Authority and K-Water signed an MoU covering investment, clean water supply, wastewater treatment and digital transformation in water sector management across industrial parks and economic zones. The agreement also includes cooperation in connecting and supporting official development assistance (ODA) projects related to water infrastructure.
The MoU is expected to provide an important foundation for the two sides to advance specific cooperation programs in the coming period, contributing to improvements in Hai Phong's technical infrastructure and water resource management capacity.
Following the signing ceremony, Hai Phong Chairman Do Thanh Trung and the Hai Phong delegation paid a courtesy call on the Embassy of Vietnam in South Korea.
Hai Phong News
