Orion and Fisheries Industry Cooperative to establish joint venture to brand Korean seaweed, etc. (Korea)

Orion, a major food company, has signed a memorandum of understanding (MOU) with the Central Fisheries Industry Cooperative Association (Suikyo) and announced that it will establish a joint venture to advance the nori business and ensure stable consumption of seafood.
Combining the supply capacity and fishery industry network of the National Fisheries Association and Orion's food processing capabilities, brand development capabilities, and distribution base, the two companies have jointly developed a seafood food brand centered on Korean seaweed.
The company plans to develop new markets in Korea and abroad. The production volume of Korean nori in 2024 is expected to reach 150 million sheets, and exports will reach a record high of 1.4 trillion won (approximately 149.451 billion yen).
Nori is the top seafood-related export item. After the establishment of the joint venture, the two companies will develop high-added-value seafood products, jointly develop and brand products, and expand sales channels for processed seafood products overseas.
After that, they plan to expand the scope of their cooperation beyond seaweed to the seafood processing industry in general.
Prior to this, Orion established a joint venture with the agricultural cooperative in 2016, Orion Agricultural Cooperative Association.
The company established the Korean Food & Beverage Co., Ltd. in 2013. It has been selling a brand of alternative foods using Korean agricultural products called "Market O'Nature," which has been well received. Overseas sales now account for 68% of Orion's total sales.
The company is currently building production and sales bases in China, India and other countries.