SEOUL, March 26 (Korea Bizwire) — While South Korea’s water industry has grown from the previous year, only a few companies are competing in the foreign market, calling for the need to bolster the industry’s overall competitiveness.
The Ministry of Environment reported Thursday that the water industry generated 46.2 trillion won (US$40.7 billion) in sales in 2019, up by 6.8 percent from the previous year (43.2 trillion won).
The overall workforce in the water industry jumped by 9,687 people in 2018 to 193,480 people in 2019, up by 5.3 percent.
There were 16,540 water-related companies as of 2019, up by 1,067 (6.7 percent) from the previous year. Only 313 of them were found to be competing in foreign markets, which is merely 1.9 percent of all water companies.
Only 16.3 percent of water companies reported R&D activities, raising the need for support and bolster the industry’s overall competitiveness.
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