Korea Water Resources Corporation (K-water) and Hyundai Asan Corp. announced on July 3 that they have signed an agreement to cooperate in the water sector in North Korea in order to prepare for unification at the K-water Seoul Metropolitan Water Supply Regional Headquarters in Gwacheon-si, Gyeonggi-do, on July 3.
The agreement came up in order to open the way for inter-Korean collaboration by both organizations cooperating in water projects in North Korea.
Under the agreement, the two companies will hold working-level talks to seek and carry out water projects in North Korea and push ahead with overseas water projects, including official development assistance (ODA) projects.
K-water CEO Choi Gye-woon said, “Currently, both South and North Korea are struggling due to severe droughts. With the agreement, both companies will actively cooperate in North Korean water projects, minimize disasters caused by droughts and floods in the Korean peninsula, and form the basis for reconciliation and collaboration between North and South Korea.”