The Korea Water Resources Corporation (KOWACO) has been reformed into an eco-friendly public company whose primary business as national water manager has been to develop and manage precious water resources for drinking and industrial purposes.

``Competitiveness of a nation in the 21st century highly depends on the efficient development and use of limited water resources,’’ KOWACO president and chief executive officer Ko Seok-ku said. ``KOWACO has completed its restructuring and has continued the management of technological innovation since its foundation in 1967.’’

As a part of restructuring efforts, KOWACO has outsourced non-core functions, such as the operation and management of 33 water intake plants and pumping stations, in order to focus on its core businesses.

Also, it has privatized 2 subsidiaries to date. The company has put intensive efforts into reinforcing our core capabilities by carrying out regular system reforms.

For fundamental reform toward greater efficiency to meet global standards, KOWACO plans to build an integrated water resources plant management system with high-end automation and information technology.

KOWACO will keep expanding automated operation as much as possible to reduce costs while proceeding with the development of knowledge-based management techniques, economic value added techniques, performance and competence-oriented human resources management systems and a merit based promotion system.

``With the reform measures, KOWACO now has taken the first step in its new mission to be one of the world-leaders in water resources development and management,’’ Ko said.

An abundance of international experience and nurtured competitiveness will make KOWACO able to strive to specialize in planning, implementation, operation and management of all forms of water from raindrops to underground water, Ko added.

Since its inception in 1967 in accordance with the national development plan of the government intended to develop heavy and chemical industries and facilitate modernization of the national industrial structure, KOWACO has delivered raw water supplies to municipality-owned water distributors and industries, by constructing and operating large multipurpose dams and reservoirs.

KOWACO has constructed and operated 16 multipurpose Dams, which have more than one function such as water supply, flood control and hydropower generation.

It plans to build 12 additional dams by 2011, when Korea is expected to face a shortage of freshwater by as much as 1.8 billion cubic meters. The new dams will comprise eco-friendly, multipurpose dams and small-scale dams exclusively for irrigation water. At the same time, the existing dams will go under redevelopment.

KOWACO has devised and implemented consolidated water supplying systems to prepare for future water shortages, to resolve the problems arising from the imbalance of water supply and to stabilize the water supply at emergencies such as droughts.

After passing through the industrial revolution period and meeting the new paradigm of a well-being lifestyle in the past decade, KOWACO has more deeply participated in environmental-friendly movements in its business.

``As we think of our own visions, strategies and values at KOWACO, we have become increasingly aware of our responsibility to the society,’’ a company official said. ``We have responsibility for maintaining health by supplying first rate drinking water on one hand, and the responsibility for the environment by minimizing the negative impacts caused by our projects on the other.’’

KOWACO introduced an Environmental Management program on March 18, 2002, which was the first such program by a public organization and it was welcomed by many interested parties, specially non-government organizations.

Furthermore, on 26 October 2002, the corporation obtained ISO 14001 Certification, which provides organizations throughout the world with elements for effective environmental management systems. The Corporation is operating management system that integrates ISO 14001 with ISO 9001, which was previously awarded.

``We now give our Environmental Management System first priority in all aspects of the decision making process,’’ the official said.

KOWACO continues to develop water resources-related technologies and to improve the general standard of living. State-of-the-art measurement devices have been mobilized to keep a close watch on the trends of various data and to maintain water quality that meets the international standard.

For the development of technologies concerning water resources management, KOWACO established a water resources research institute in Daedok Science Town, which occupies 83,000 square meters.

With environmental-friendly approaches and technological development efforts, KOWACO aims to be engaged in its businesses such as supply of hydro electric power generated by utilizing the dams and industrial sites developments, involvements in overseas projects, and providing and securing water resources.

``KOWACO will exert its utmost efforts toward environment-friendly development and the efficient management of water resources,’’ Ko said. ``As well, it will implement water preservation to provide better quality of life along with distinctive services to our customers, as a trusted and respected public corporation.’’