South Korean firms enter the environmental sector

South Korean firms enter the environmental sector, Huvis Water - source: facebook

Huvis Water, the leading water treatment system company in South Korea, made its first foray into Vietnam by developing industrial water supply and waste water treatment facilities in the TMTC dyeing industrial park in the southwestern province of Tay Ninh. Huvis Water built a facility that can handle 20,000 cubic metres of waste water a day and a water supply facility that can handle 19,000 cubic metres of industrial water a day.

According to Kim Tae Hyeong, chief engineer of Huvis Water Vietnam, the company established a subsidiary in 2016 to make inroads in the Vietnamese waste treatment market. It is looking for more business opportunities in industrial zones as well as waste water treatment projects for Vietnamese provinces, under the build-operate-transfer model.

Meanwhile, Bohemian Oh, researcher at the Environmental Industry Promotion Office under the South Korean Environmental Industry and Technology Institute, said that the government of South Korea is keen to aid South Korean companies in developing environmental projects in Vietnam.

Samsung and Posco have established waste treatment facilities in Vietnam, while Huvis Water and BKT have now set up a presence in the country.

“In a developing economy like Vietnam, there is growing awareness and demand for a clean environment, from air to water. This presents ample opportunities for more South Korean companies to tap into the market. We hope to learn more about the environmental projects for which foreign investment is called on,” he noted.

Seo Hye Sook, director of Busan Environmental Corporation, said, “Our company offers numerous environmental solutions including incineration, landfill, and waste-to-energy technologies. We are willing to share our know-how with Vietnamese partners as well as support South Korean companies in penetrating the market.

“Vietnam’s environmental industry has great potential, so we want to explore the current trends in the market to facilitate upcoming environmental projects,” she said, noting that around 87 South Korean companies participated in the 10th International Environment and Energy Technology Exhibition in Ho Chi Minh City last week.

These companies have showcased hundreds of products and technologies in the fields of environmental treatment, new energy, renewable energy, and eco-products aimed at local market.

According to the Vietnam Environment Administration’s Department of Science, Technology, and International Co-operation, Vietnam needs VND93 trillion ($4.07 billion) to develop environmentally friendly technology by 2020. The figure is projected to reachVND222 trillion ($9.7 billion) by 2030.

The capacity of the environmental industry has so far met 2-3 per cent of the demand for urban waste water treatment, 15 per cent of the demand for solid waste treatment, and about 14 per cent of the demand for hazardous waste treatment. Meanwhile, many areas such as waste oil, waste plastic, as well as electronics waste recycling have not been developed.