On 14 October 2026 K-Water tendered lots 1 and 3 of phase 1 of the Yongin semiconductor cluster water supply, at estimated costs of KRW 275.6 billion and KRW 344.9 billion, together KRW 620.5 billion. Each lot has a construction period of 1,308 days.
The timetable
Prequalification documents are due on 2 November 2026 and bid applications on 17 November. K-Water plans to select a bidder for each lot on 18 December 2026, using the comprehensive evaluation award method. Lot 2 is already contracted to Kolon Global for KRW 126.5 billion.
What is being built
Phase 1 will carry 310,000 tonnes a day over about 47 km from Paldang Dam. Construction on its priority sections began on 18 September 2026, and first supply has been brought forward from January 2031 to May 2029. The full scheme, with a planned total cost of about KRW 2.2 trillion to 2034, will supply 1,072,000 tonnes a day.
Why the account matters
The rating agency KIS puts K-Water's capital spending at around KRW 0.7–0.9 trillion a year, so the two lots, though spread over about 1,308 days, are a large addition to its pipeline. The company carries a domestic AAA/Stable rating and reported a debt ratio of 92.7% at the end of 2025.
The risks
The bulk water business recovered only 78.1% of its cost in 2025 under a tariff unchanged since 23 September 2016. K-Water's chief executive has served beyond a term that expired on 18 June 2026, and a successor had not been appointed by 29 October.
Who already holds K-Water's major contracts, how its equipment buying works and which categories to prioritise first are set out in the account brief. The full report, K-Water: Utility Account Brief, is available for USD 499. For a free overview, read the K-Water Utility Snapshot.