Preheat the oven to 350 degrees F (175 degrees C). Coat a large baking dish with nonstick cooking spray.

Place corned beef into the prepared baking dish; pour in water. Cover the dish tightly with aluminum foil.

Bake in the preheated oven for 2 hours; drain liquid.

Combine apricot preserves, brown sugar, and soy sauce in a small bowl. Spread evenly over corned beef.

Return to the oven and bake uncovered until meat is tender, 25 to 30 more minutes. Baste occasionally with pan drippings.

Slice corned beef across grain and serve.