Growth seen in water sector

Economy

Growth seen in water sector

Published: 04 Dec. 2018, 20:21

Korea aims to expand water industry revenues to 50 trillion won ($45.2 billion) and jobs in the sector to 200,000 by 2030, the Ministry of Environment said Tuesday.

The ministry unveiled its long-term vision for the water industry, as a cabinet meeting approved the enforcement decree of an act on water management technology development and water industry promotion earlier in the day.

The water industry act and its enforcement decree are to take effect Dec. 13. The water industry refers to the provision of drinking water as well as wastewater services to residential, commercial and industrial customers.

Government officials said the water industry will not only resolve water-related problems but will play a key role in finding new growth engines.

Yonhap