Territory bottled water company signs 10-year export contract with leading South Korean FMCG Distribution Company
Darwin, Northern Territory: In keeping up with its brand name ‘Akuna’ or ‘The Way Forward’, NT Beverages Group Pty Ltd., ‘the Northern Territory’s only bottled water Company, on Friday, 25th August 2017, signed a 10-year contract with one of South Korea’s leading FMCG distribution Companies, Jace Company.
Established in 2007 in Seoul, South Korea, Jace Company specialises in the distribution of fast moving consumer goods such as food and cosmetic products.
NT Beverages has signed up Jace Company as its exclusive distributor, for the mass distribution of its bottled water brands, Akuna Springs™ and Akuna Blue™ across South Korea.
Ecstatic on the partnership, Hugh Jones, CEO and Managing Director of NT Beverages commented, “This is the way forward not just for NT Beverages but also for the Northern Territory. We believe, this partnership will be significant in further strengthening mutual collaborations between the Northern Territory and Korea, through trade and investment opportunities related to the bottled water industry.
It will not only create an appetite for our pristine water in the neighbouring export markets but also create employment opportunities in the NT, for businesses and contractors managing warehousing, maintenance and logistics.”
According to a research by Mintel, South Korean consumers will purchase 5bn litres of bottled water this year. Furthermore, South Korea’s bottled water market is expected to surpass 1 trillion won ($890 million) by 2020 on the back of rising popularity among single-person households and the use of online shopping platforms, according to a local market research firm, Taurus Investment and Securities.
Mr. Kim Goan Tae, CEO of Jace Company personally visited Darwin to seal the contract over 3 days of negotiations with the Management Team at the NT Beverages head office based in East Arm. Commenting on the partnership with NT Beverages, Mr. Kim said, “We see great potential for NT Beverages’ products Akuna Springs and Akuna Blue in our market. We are impressed by the professionalism of NT Beverages and look forward to a successful long-term partnership.”
Korea is Northern Territory’s sixth largest export market and Korea is linked to major projects in the Northern Territory through the petroleum industry, including the construction of the Shell Prelude floating liquefied natural gas facility which is now on its way to waters off North West Australia.