Korea Water Resources Corporation (K-water) signed a memorandum of understanding (MOU) for technological cooperation with the Asian Development Bank (ADB) at the headquarters on February 2 in order to introduce smart water management technology in South Asia.
With the investment of US$1.35 million (1.64 billion won), the project is designed to combine K-water’s smart water management technology in four cities in South Asia – India, Bangladesh, Nepal and Sri Lanka, to reduce the leakage rate, which reaches 40 percent, in the regions, and to efficiently manage water supply facilities. It will also be connected with the ADB’s follow-up development projects in the future.
Under the MOU, K-water will select one city every year for four years from 2016 to 2019, send experts to the city to examine its water supply systems, operate an office in the region and provide expert education and training programs, and use surface water management (SWM) smart devices in the water supply systems in the city on a trial basis.
K-water’s SWM technology can remotely manage water quantity and quality in real time by combining existing water management systems with information and communications technology (ICT) technology. It is an integrated water management technology that can check how much water is consumed and whether or not water leakages occurred through digital meters with wireless communication function. The technology is test run in Goryeong, North Gyeongsang Province.
With the latest support project, K-water hopes to become the leader in the smart water management market, which is expected to grow to 22 trillion won (US$18.08 billion) by 2020.