DAEJEON < invest Korea

According to Yonhap News,

The city of Daejeon, the Ministry of Environment, Korea Water Resources Corporation (K-water), Chungnam National University, Korea Advanced Institute of Science and Technology (KAIST) and Korea Innovation Foundation have signed an MOU on Apr 26 over a partnership to promote innovation-driven growth in the digital water economy.

Under the contract agreed upon, each entity reached a consensus to form a collaborative networking system to foster a digital water industry, enabling the water sector to present digital technologies, building up a biz-support and amenity facility making full use of the existing space for empirical study to evaluate business feasibility and to form a working groups etc.

Six agencies which signed the deal will join forces to identify locally based promising small and mid-sized companies and to provide an administrative support package to develop the digital water economy. By running a revitalization program, repairing an old, unused sewage treatment system near Songgang-dong, Yuseong-gu, K-Water will turn the place into a new startup and tech-incubating hub where water businesses can advance innovations. Amenities nearby will also be open to the public.

In celebration of the MOU signing ceremony, the city mayor said “The city will put greater effort into laying foundation not only for the community economy but the development of the water industry, by forming a global-scale digital water cluster.”

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Source:Yonhap News (Apr 26, 2021)