Venture Companies AquaWorks and WaterKorea to Establish Factories in Daegu Water Industry Cluster

710 Billion KRW Investment Business Agreement

Manufacturing Plant Completion in August-September

On the 6th, Daegu City signed a new investment business agreement with two creative and innovative venture companies in the water industry’s water treatment and water quality improvement sectors, AquaWorks (CEO Shin Yong-il) and Water Korea (CEO Seol Jin-hyun), to build factories within the Daegu National Water Industry Cluster.

AquaWorks, founded in 2019 as a startup within the National Water Industry Cluster, initially leased research facilities such as the Water Convergence Research Center and has since enhanced its technological capabilities. This time, it plans to invest 4.2 billion KRW to build a manufacturing plant on a 4,473㎡ site within the National Water Industry Cluster. Construction will begin in March and be completed by September.

The National Water Industry Cluster located in Guji-myeon, Dalseong-gun, Daegu.

As of 2022, AquaWorks is a venture company with an annual sales revenue of 950 million KRW. It is an innovative company possessing creative and innovative technologies in the water treatment fields such as sewage, wastewater, and industrial effluent, aiming to achieve sales of 30 billion KRW within the next three years.

Water Korea, established in 2019, is a water company currently leasing space in the Dalseong 2nd Industrial Complex, specializing in water quality improvement.

They have developed the smart water SWIQ platform system that integrates Internet of Things (IoT) software into the water industry to improve water quality through data, as well as a data-centric artificial intelligence (AI) system combined with IT technology. The company possesses eco-friendly construction methods and customized water quality improvement technologies based on data, tailored to the pollution levels of reservoirs, fish farms, and other water bodies.

Water Korea plans to invest 2.9 billion KRW to build a manufacturing plant on a 3,416㎡ site within the National Water Industry Cluster and expand its production lines for mass production. Construction will start in May and be completed by August. As of 2022, it is a venture company with annual sales of 300 million KRW, holding patents related to water quality improvement systems, and aims to reach sales of 21 billion KRW within the next three years.

The National Water Industry Cluster (464,000㎡), which opened in September 2019 with an investment of 240.9 billion KRW to promote the national water industry, has attracted 36 water companies so far with the addition of these two companies, raising the occupancy rate to 64%.

Currently, 21 companies have completed construction, 4 companies are in the process of obtaining building permits or under construction, and the remaining 11 companies are preparing to start full-scale projects such as groundbreaking within this year.

Lee Jong-hwa, Deputy Mayor for Economic Affairs of Daegu City, stated, “The two venture companies investing this time have the technological capabilities and competitiveness to lead the future water industry in the fields of water treatment and water quality improvement, and they will become representative companies of the National Water Industry Cluster in the future.” He added, “Daegu City will actively support their growth into leading companies in the water environment sector in a short period through the National Water Industry Cluster and the Water Technology Certification Center.”

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