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AAK has moved into the water industry cluster, and a related article has been published.

We supplied three centrifugal dehydrators to Song Da Water Purification Plant in Hanoi, Vietnam, and will continue to carry out various activities as a water industry cluster.

Source: https://www.sedaily.com/NewsView/29X9C1KIT3

The National Water Industry Cluster in Dalseong-gun, Daegu, the only cluster of water-related companies in Korea, is showing steep growth with rising exports despite the global economic downturn. In particular, through the overseas performance evaluation support project for the overseas expansion of promising domestic water technologies, a number of small and medium-sized water companies are succeeding in pioneering overseas markets, including large-scale orders.

According to the Korea Environment Agency's National Water Industry Cluster Business Unit on Saturday, the 116 tenant companies generated KRW 1.214 trillion in sales last year, a year-on-year growth of 331 TP3T. Despite the deteriorating global economy, the export value increased by 271 TP3T to KRW 75 billion, and the number of employees increased by 221 TP3T over the same period to 3,793. This is significantly higher than the increase in sales and exports of all water companies in Korea according to the Ministry of Environment's Water Industry Statistics Survey, the organization said.

A total of 36 tenant companies exceeded KRW 10 billion in sales, an increase of 6 companies from the previous year, and their total sales amounted to KRW 956.7 billion. The cluster's performance in fostering startups also stands out. The sales of early-stage companies, those that have been in business for less than seven years, increased more than fivefold from KRW 700 million in 2020 to KRW 3.8 billion last year.

AquaWorks' rapid growth in sales to KRW 1.2 billion last year is a prime example of startup fostering. Not only has the company obtained new technology certification through R&D supported by the business center, but it is also planning to complete a manufacturing plant in the cluster, which has invested about KRW 4.3 billion, in the second half of this year.

Behind the rapid growth of water companies is the close support of the water industry cluster, which has acquired the status of an internationally accredited testing laboratory. In addition to building 20 billion won worth of testing and analysis equipment in the cluster and providing various testing services, the cluster has received KOLAS accreditation for 417 items in three fields, including epidemiology and chemical testing, and is serving as a reliable helper for company growth.

In particular, through the water technology commercialization support programs such as digital transformation, carbon neutrality, and overseas performance evaluation, strong small water companies leading the water industry are being produced one after another. In fact, four companies, including Nives Korea, iS Technology, and Cheongho Precision, have won business orders worth KRW 5.7 billion through digital water technologies developed with the support of the project.

RK and CJK succeeded in entering the water market in Vietnam and Hungary, respectively, through overseas on-site performance evaluation support projectsin the United States. Bugang Tech is demonstrating high-speed filtration technology through the Milwaukee Sewage Treatment Plant primary sedimentation cell renovation project in the U.S., and is expected to receive business orders worth 50 billion won if the technology is successfully verified.

The cluster is also focusing on supporting mutual growth between large and small enterprises. In order to secure stable sales for SMEs, the cluster members are registered as vendors with large companies such as Samsung ENG and are promoting joint entry into local projects in Vietnam. In addition, the cluster organizes joint pavilions with tenant companies at various international water industry fairs to operate promotional booths and promote excellent water products through new media such as social networking services (SNS). Park Seok-hoon, head of the National Water Industry Cluster Business Unit, said, “As the cluster has been operating for five years, R&D support for water companies is acting as an engine for corporate growth.” “We will strengthen communication and cooperation with water companies to create an environment conducive to business.”.

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Source: https://www.sedaily.com/NewsView/29X9C1KIT3