South Korean state-run water resources management company Korea Water Resources Corporation (K-water) is seeking to globally expand sales of its smart water management technology, the company confirmed at a water trade event yesterday.
K-water said it is using the 7th World Water Forum, taking place this week in South Korea, as a platform to showcase its advanced water technologies, reports The Korea Herald.
The water resources development company is presenting its smart water management initiative, which aims to increase the stability of fresh water supply against consumption rates and minimise water spillage through leak detection.
The technology uses smart sensor networks to monitor water levels and acts as a support system for utilities to better match water supply and demand.
The company's technology also uses statistical methods to predict water leakage to prevent water network damage.
A spokesman for K-water said: "The paradigm of the water industry is shifting from water and sewage to an integrated water management business based on ICT technologies.
"The market is getting bigger as it is considered a higher value-added business."
Global smart water market
K-water has already established strategic partnerships with global water companies, according to The Korea Herald.
The state-run water resources company currently has 20 projects in 13 counties under development, including a hydro power project in Patrind, Pakistan.
Other projects include integrated water management technologies being developed in conjunction with the Algerian government to tackle protracted flooding and droughts in the country.
And in 2014, K-water signed a contract with the Chinese town of Yanji to adopt smart water technologies to also address persistent drought and low water flow rate challenges.
K-water this week also signed a partnership contract with France's Suez Environnement to seek domestic and overseas water projects as well as carry out research on smart water management technology.
The global water market is estimated to be worth US$689 billion in 2018, up from US$556 billion in 2013, according to the UK water industry research company Global Water Intelligence.