Korea’s Orion Holdings, the holding company of snack maker Orion Group, has recently signed an agreement with local partners, Qingdao Yongping Market Management and Qingdao Guoxin Culture and Sports Industry, to export its mineral water product, Jeju Yongamsoo to China.
Orion aims to boost significantly the sales of its water product to China, which also translates to increasing its production to meet the new demand.
Qingdao Yongping Market Management is one of the largest Chinese beverage companies, and produces and sells Tsingtao beer products in the country. Orion Holdings expects to benefit from the nationwide sales network that its Chinese partner has.
On the other hand, Qingdao Guoxin Culture and Sports Industry will become Orion’s partner to promote the water product in China.
Further contracts will have to be signed between the parties on the export volumes and schedules for its mineral water product.
Jeju Yongamsoo was produced at a plant in Jeju Island and it was launched in 2019. The product is naturally filtered through 400,000 year old basalt, making the alkaline mineral water product rich in minerals like calcium, potassium and magnesium. Orion earlier disclosed plan to increase the presence of this product in the bottled water markets of China, Vietnam, Indonesia, India and Russia.
Orion Holdings first exported its mineral water product to China in 2020 and continued to seek new partnerships to ramp up sales in the country with a rapidly growing bottled water market. China’s bottled water market was estimated at US$26 billion.
