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|Daegu Environmental Corporation to strengthen ties with China at Korea International Water Week|
During Korea International Water Week (KIWW), held from October 19 to 22, the Daegu Environmental Corporation (Chairman Yoon Yong-moon) invited Chinese entrepreneurs to the Korean Environmental Enterprises’ Technology Promotion Meeting, where it was hoped that the two countries would strengthen bilateral cooperation in environmental fields. Korea achieved significant accomplishments during the KIWW with the signing of a business contract with Shenzhen Water Group Co., Ltd. and Ouya Huadu (yixing) Environmental Protection Co., in which the parties agreed to establish a joint-stock company with China’s Jiangsu Green Meadow Pure Water Co., Ltd., as well as a contract with Jiangsu Bluestar Green Technology Co., Ltd. to supply goods and establish local agencies.
○ The Daegu Environmental Corporation invited a group of visitors, including an official from Shenzhen Water Group Co., Ltd., an environmental entrepreneur from Yixing Shi, and a professor from Hubei University of Technology to the first KIWW, and introduced them to Korea’s excellent environmental technology based on an itinerary that included a visit to Korea’s basic environmental facilities.
○ Held after the opening ceremony of the KIWW on the 19th of the month, the Korean Environmental Enterprises’ Technology Promotion Meeting served as an opportunity for the Daegu Environmental Corporation to introduce the remarkable technology of Korean environmental companies to the Chinese visitors and seek ways of cooperating with Chinese corporations in the environmental industry. More than 10 domestic companies, including Lotte Chemical, Pyungwha Pipe Industry Inc. (PPI), and other companies planning to move into Daegu’s water industry cluster, introduced their technologies at the event, receiving significant attention from Chinese companies.
○ In addition, by signing a business agreement with Shenzhen Water Group Co., Ltd. and Ouya Huadu (yixing) Environmental Protection Co., the Daegu Environmental Corporation has paved the way for the establishment of a partnership between the two countries in the environmental industry.
○ Shenzhen Water Group Co., Ltd. is a public water management enterprise that has been providing water and sewage treatment services for the 20 million residents living in and around the city of Shenzhen, China, since its establishment in December 2001. The company holds KRW 400 billion in capital, has a net worth of KRW 1.5 trillion, and employs 8,000 people. The company is capable of providing 7.99 million tons of drinking water a day, making it the company with the highest production capacity in the nation. It also maintains a sewage treatment capacity of 2.72 million tons a day, accounting for 90 percent of the sewage in the Shenzhen Special Economic Zone.
○ Ouya Huadu (yixing) Environmental Protection Co. is an environmental infrastructure company operating out of the city of Yixing, China. Seeking to participate in the Tianzi Mountain Economic Circulation Industrial Complex Project (valued at KRW 410 billion), Ouya Huadu is currently holding discussions with the aim of collaborating with some of Korea’s top environmental companies, and is planning to list their shares on the KOSDAQ this year. The Daegu Environmental Corporation plans to actively support Korean companies in their efforts to participate in the Tianan Mountain Economic Circulation Industrial Complex Project, which is being promoted by Ouya Huadu (yixing) Environmental Protection Co.
○ On the 21st of the month, Korea New Water Co. and China’s Jiangsu Green Meadow Pure Water Co., Ltd. agreed to establish a joint venture, while Korea’s Raphabio signed a contract with China’s Jiangsu Bluestar Green Technology Co., Ltd. to supply goods and establish local agencies. These achievements were made in May at the Korea-China Environmental Enterprises Exchange Meeting, which was attended by 36 experts, including officials from Daegu City and the Daegu Environment Corporation, and businessmen from Yixing, China. Building on the progress made so far, the Daegu Environmental Corporation will continue to expand its business relationships with China in the environmental industry.
○ Chairman Yoon Yong-moon of the Daegu Environmental Corporation said: “By inviting Chinese entrepreneurs to attend the Korean Environmental Enterprises’ Technology Promotion Meeting, which was held for the first time at this years’ KIWW, we aim to promote the establishment of Korean-Chinese joint ventures in China and facilitate the conclusion of business contracts between the Daegu Environmental Corporation and Chinese public institutions and other excellent companies. We will strive to transform Daegu into a hub of Korea’s water industry by supporting and assisting the enterprises hoping to advance into the Chinese market, led by Daegu’s water industry cluster, thereby establishing a foothold in China’s environmental market.”
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