On May 18, Samsung E&A announced that it signed a memorandum of understanding (MOU) with K-water to expand their water business. The signing ceremony took place at K-water's Han River Headquarters in Gwacheon, attended by top executives from both companies, including Hong Nam-goo, President of Samsung E&A, and Yoon Seok-dae, President of K-water.
This agreement aims to combine the core competencies of both companies to seize substantial business opportunities in the domestic and international water markets. The two firms plan to develop optimal business models that integrate Samsung E&A's technology with K-water's operational expertise, marking the beginning of joint development on previously discussed water-related projects.
Following the MOU, the companies plan to pursue several initiatives, including: leveraging each company's technological capabilities and networks for water-related project development and information sharing; developing and jointly operating domestic water treatment and reuse projects; and identifying opportunities for overseas water business development, commercialization, and joint operations. They will also establish a 'regular consultation body' to coordinate the direction of ongoing domestic and international water business initiatives and to strengthen their efforts in discovering new global projects.
Hong Nam-goo, President of Samsung E&A, stated, "Collaboration with K-water, which possesses world-class operational management expertise, will be the most ideal model for entering the water business. We will successfully complete the upcoming joint projects and fully engage in the global water market."
Meanwhile, Samsung E&A is expanding its water-related business as part of its environmentally friendly future growth strategy, accelerating its entry into the global water treatment market. The company has been involved in advanced water treatment projects for semiconductor and chemical plants, focusing on industrial water purification and zero-discharge system implementation.
Recently, it has actively participated in large-scale seawater desalination projects and water treatment plant bids in the Middle East, including the United Arab Emirates. Additionally, it is broadening its business scope into areas such as wastewater reuse and environmentally friendly water treatment utilizing biogas, enhancing its high-value environmental projects in line with the carbon-neutral era.
* This article has been translated by AI.
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