The Korea Water Resources Corporation (K-water) is entering Vietnam's water market after acquiring shares in key water supply and wastewater treatment facilities near Ho Chi Minh City, reports The Korea Herald. A memorandum of agreement (MOA) was signed with Vietnamese water treatment companies Phu My Vinh and GS Minh Hung-Sikico, marking a milestone in K-water's global expansion efforts.
The MOA outlines equity acquisition, technical collaboration, and joint efforts to optimize operations and expand Vietnam's water market. K-water's move targets Vietnam's burgeoning industrial water demand, driven by the country's rapid economic growth and expanding industrial complexes. Climate change-related challenges, such as drought and salinization, have further underscored the need for advanced water management solutions.
Phu My Vinh operates the Hoa Khanh Tay regional water treatment plant, while GS Minh Hung-Sikico manages the wastewater treatment facility at the Minh Hung-Sikico Industrial Complex. K-water plans to provide technological, operational, and management support, leveraging advanced systems like artificial intelligence and Smart Water Network Management (SWNM). SWNM technology enables proactive responses to incidents like leaks and water quality anomalies, tailoring K-water’s expertise to Vietnam’s needs.
This strategic partnership also represents K-water's entry into the international wastewater market, backed by South Korea’s Ministry of Environment. The initiative builds on K-water’s successful Official Development Assistance projects in northern Vietnam, bolstering its reputation as a global water industry leader.
“Vietnam is a market where global water companies are active, and fierce competition is expected among such companies as the water sector is projected to expand rapidly,” said Han Seong-yong, vice president of K-water’s Global Business Division. “Through these MOAs, we will work to establish a foothold, using Korea’s cutting-edge water management technologies to boost the export performance of domestic companies and contribute to the country’s economic advancement.”
