Orion and the National Federation of Fisheries Cooperatives (Suhyup) are jointly investing $60 million to establish a new venture, aiming to take K-Seafood to the global stage.
Orion and Suhyup Target Global Seafood Market
Orion and Suhyup will invest KRW 60 billion (approx. $60 million) to create a joint venture, “Orion Suhyup.” This marks a strategic push to globalize Korean seafood, not just a simple collaboration.
KRW 60B Joint Venture Launch
Each side will invest KRW 30 billion with a 50:50 ownership split, officially launching the JV in October.
Suhyup Provides Raw Materials, Orion Handles Distribution
Suhyup will supply raw materials such as premium dried seaweed, while Orion leverages its marketing and distribution network to export globally.
First Project: Seasoned Seaweed
The JV’s first project is seasoned seaweed production. Korea already commands 70% of the global seaweed market, giving the product strong global potential.
Domestic and Overseas Plants Planned
Orion Suhyup aims to build domestic and overseas factories within the year, boosting efficiency and expanding supply capacity for overseas demand.
Expanding into Seafood Snacks
Beyond seasoned seaweed, the JV plans to develop seafood-based snacks aligned with global consumer trends, shifting from raw exports to high-value-added processed foods.
K-Seafood’s Global Leap
Korea’s seaweed industry already produces 1.5 billion sheets annually and exports $1 billion worth. With Suhyup’s stable raw supply and Orion’s international reach, the JV could elevate K-Seafood into a global food brand.
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