Samsung E&A Expands Its Reach in the Water Market Through Partnership With K-water

MOU for Joint Development and Expansion in Water Business
SAMSUNG E&A Handles Design and Construction, K-water Oversees Operation and Management

SAMSUNG E&A is joining forces with Korea Water Resources Corporation (K-water) to make a full-scale push to secure a leading position in the domestic and international water markets.

Hong Namgoong, President of SAMSUNG E&A (left), and Seokdae Yoon, President of Korea Water Resources Corporation, are taking a commemorative photo after signing a memorandum of understanding to expand water business ventures. SAMSUNG E&A

SAMSUNG E&A announced on the 19th that it had signed a 'Financial business agreement for expanding water business entry' with K-water at the K-water Hangang Regional Headquarters in Gwacheon on the 18th. The signing ceremony was attended by Hong Namgoong, President of SAMSUNG E&A, Seokdae Yoon, President of K-water, and other top executives from both companies.

This agreement goes beyond simple mutual exchange; it aims to combine the core strengths of both companies to secure tangible business opportunities in domestic and global water markets. The two parties plan to develop optimal business models that leverage SAMSUNG E&A's technology and K-water's operational expertise, thereby accelerating the joint development of water business projects that have been under discussion between the two companies both in Korea and abroad.

Following the agreement, the companies will collaborate in several areas: developing and sharing information on water-related businesses utilizing each company's technology and network; jointly developing and operating (O&M) domestic water treatment and reuse projects; and exploring, commercializing, and operating (O&M) overseas water business opportunities. In addition, through a 'regular consultative body,' they will coordinate the direction of ongoing domestic and overseas water business initiatives, establish a unified response system, and work closely together to identify new global projects.

Earlier this year, SAMSUNG E&A accelerated changes to expand its future business by restructuring its portfolio from the previous categories of chemical and non-chemical businesses to chemical, advanced industries, and New Energy. The company has designated the water business, alongside liquefied natural gas (LNG) and clean energy, as a key growth pillar of the New Energy sector.

Accordingly, SAMSUNG E&A is strengthening its value chain to cover the entire water business spectrum, including water and wastewater treatment, reuse, and desalination. The company has demonstrated its capabilities in the water sector by successfully carrying out numerous water treatment projects in Korea (such as Yongin) and abroad (including Bahrain), and possesses advanced technologies for challenging areas like wastewater, reuse, and ultrapure water. In 2022, SAMSUNG E&A acquired a stake in Vietnam’s water treatment company DNP Water, signaling its full-scale entry into the Southeast Asian water treatment market, while also making thorough preparations to expand in the Middle Eastern water market.

Hong Namgoong, President of SAMSUNG E&A, stated, "Collaboration with K-water, which possesses world-class operation and management (O&M) know-how, represents the ideal model for entering the water business sector," adding, "We will successfully complete the joint projects scheduled for the future and accelerate our efforts to expand into the global water market."

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