Orion Group Signs Win-Win Agreement and Raw Water Supply Contract with Jeju Island

Photo of the Win-Win Cooperation Agreement Signing Ceremony (from left: Park Geun-su, Director of Environmental Conservation Bureau, Jeju Special Self-Governing Province; Heo Cheol-ho, CEO of Orion Jeju Yongamsu)

[Asia Economy Reporter Choi Saeng-hye] Orion Group announced on the 23rd that it has signed a win-win cooperation agreement and a raw water supply contract for lava seawater with Jeju Special Self-Governing Province and Jeju Technopark.

Orion Holdings promised mutual cooperation with Jeju Province for regional economic development and revitalization of the lava seawater industrial complex. The main points include ▲ allocating 20% of the profits from products using Jeju lava seawater to a separate fund to be returned to Jeju Province ▲ prioritizing employment of local personnel in Jeju ▲ expanding investment within Jeju Province ▲ promoting Jeju’s clean image overseas ▲ actively cooperating in pioneering overseas sales channels for Jeju local specialties. Among these, the Jeju regional social contribution fund will be used after prior consultation with Jeju Province to support environmental protection, social welfare, marine ecosystem conservation activities in Jeju, scholarships for nurturing local talent, and the promotion of Jeju culture, arts, and academics.

The production corporation Orion Jeju Lava Water signed a contract with Jeju Technopark, which operates the lava seawater industrial complex, regarding the supply and use of raw water. Amid the recent economic downturn in Jeju and the domestic market due to COVID-19, establishing a stable domestic production base and brand image was urgently needed to actively target overseas markets such as China, Vietnam, and India. Accordingly, ‘Orion Jeju Lava Water’ agreed to limit production to 200 tons per day and to sell through all online and offline channels. Based on domestic production, Orion plans to leverage the group’s overseas business infrastructure and capabilities to develop Orion Jeju Lava Water into a global brand.

Orion Jeju Lava Water has completed its first exports to Vietnam and China. In Vietnam, it is currently being introduced mainly in large supermarkets and convenience stores in major cities such as Ho Chi Minh City and Hanoi, with an official launch scheduled for June. In China, sales will also begin in earnest from June, focusing on major cities. The domestic sales and overseas market entry of Orion Jeju Lava Water are expected to invigorate Jeju’s economy. Currently, Orion Jeju Lava Water is supplying domestically and exporting overseas through ports in Jeju Province. If the volume increases, the logistics related to the supply of materials required for production will also increase, contributing to the activation of maritime logistics. Additionally, as a local company based in Jeju, Orion Jeju Lava Water plans to actively contribute to and coexist with Jeju’s development.

An Orion official said, “Orion Jeju Lava Water will be developed into a global brand that widely promotes the excellence of Jeju’s water resources worldwide by pioneering overseas markets based on domestic production,” adding, “We will do our best to contribute to Jeju’s development, from profit returns on product sales to job creation for Jeju residents and revitalization of the local economy.”