Domestic Water Industry Sales Reach 46.2 Trillion Won... 6.8% Increase in One Year

[Sejong=Asia Economy Reporter Joo Sang-don] As of 2019, the total sales of the domestic water industry amounted to 46.2 trillion KRW, an increase of 6.8% compared to the previous year. This corresponds to approximately 2.5% of the domestic Gross Domestic Product (GDP).

On the 25th, the Ministry of Environment announced that it will publish the "Water Industry Statistical Report" on the 26th, containing these details.

The Water Industry Statistical Report surveyed 18 items including general status and business activities of water industry enterprises with at least one employee, operating in Korea from January 1 to December 31, 2019.

Sales generated by the water industry in 2019 reached 46.2017 trillion KRW, a 6.8% increase from the previous year. By sector, 'Water Industry Related Product Manufacturing' accounted for the largest share with 25.6715 trillion KRW (55.6%). This was followed by 'Water Industry Related Construction' with 12.5843 trillion KRW (27.2%).

The number of domestic water industry enterprises was 16,540, an increase of 1,067 (6.9%) compared to the previous year. This represents about 0.4% of the total number of enterprises in the country.

The number of workers in the water industry increased by 9,687 (5.3%) from the previous year, totaling 193,480 people.

The number of enterprises expanding overseas was 313, accounting for only about 1.9% of all water companies. Research and Development (R&D) active companies accounted for approximately 16.3% of all water companies, indicating a high need for support in areas such as overseas expansion and R&D to enhance the industry's competitiveness.

Kim Dong-jin, Director of the Water Resources Policy Bureau at the Ministry of Environment, stated, "For the promotion of the domestic water industry and the overseas expansion of water companies, understanding the general status of the water industry and analyzing local water markets are fundamental and essential elements." He added, "We will continue efforts to expand new industry jobs such as smart water management, thermal energy, and floating solar power."

This content was produced with the assistance of AI translation services.