Press Release
Reference Materials for the Vice Minister of Environment’s Attendance at the Opening Ceremony of the ‘2024 International Water Industry Exhibition’
- Date:
- 2024-03-20
- View:
- 749
On-Site Schedule
Mar. 20 (Wed) Attendance and visit to the exhibition venue at the opening ceremony* of the '2024 International Water Industry Exhibition,' which is being held on the largest scale in Korea
* (Daejeon Convention Center Exhibition Hall 2, Yuseong-gu, Daejeon Metropolitan City)
** Participation of around 160 companies and institutions (with buyers from 14 countries (50 companies) scheduled for attendance and export consultations)
Main Message
▷ Vice Minister Lim Sang-jun, "Goal of creating a water industry market worth KRW 60 trillion by 2028, with support for core technology R&D through an investment of KRW 410 billion"
- “For domestic water companies, 97% of which are focused on the domestic market, we will concentrate on pioneering export routes by region for overseas expansion.”
Effective response to the climate crisis and stable water supply require not only the expansion of water use and management infrastructure but also the development of the water industry.
The global water market size, estimated at around KRW 1,240 trillion in 2023, is expected to grow to approximately KRW 1,490 trillion by 2028 (Global Water Intelligence (GWI) report).
On the other hand, the domestic water industry, with over 17,000 companies, is not large in scale*. 97% focus on the domestic market, and overseas expansion remains limited
* (As of 2021) Total sales: Approx. KRW 47 trillion, Average sales per company: KRW 2.7 billion, Overseas exports: KRW 2 trillion
The Ministry of Environment plans to expand the water market to KRW 60 trillion by 2028, focusing on developing core technologies with an investment of approximately KRW 410 billion. This initiative aims to enhance the technological capabilities of domestic companies and strengthen support for the water industry to compete globally.
* The ‘Second Basic Plan for the Development of Water Management Technology and Promotion of the Water Industry’ finalized (March 15, 2024).
Promotion of R&D in promising fields (such as ultrapure water, seawater desalination, etc.) to expand domestic demand, tailored support for company growth at different stages, fostering of convergence industries, and training of specialized personnel focusing on field-centered approaches
Enhancement of support for overseas expansion, including high-level sales diplomacy and the development of region-specific export routes
For further information, please contact the Public Relations Division.
Contact person: Gina Lee, foreign media spokesperson
Phone: +82-44-201-6055
Email: gcjgina@gmail.com
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