S. Korea prioritizes water industry to boost economy

(MENAFN) South Korea plans to establish a national water industry cluster by 2018 that can sponsor the growth of related firms and generate more jobs, based on recent reports.

Accordingly, the government very much realizes the current water crisis; therefore it intends to use it as a groundbreaking opportunity to tackle the issue and develop the industry.

The world's 4th largest economy will expand investment in research and development so domestic companies can obtain the source technology to lead the water industry.

Additionally, the global water industry is projected at nearly USD100 billion, twice as large as the semiconductor segment and half as big as the oil sector, according to the latest data.