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Akuna Bottled Waters to expand in South Korea

NT BeveragesNT Beverages Group has signed a 10-year contract with Jace Company last Friday.

Jace Company will be an exclusive distributor of Akuna Springs and Akuna Blue in South Korea.

“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,” Hugh Jones, CEO and managing director of NT Beverages commented.

“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.”

The distribution company specialises in the distribution of FMCG such as food and cosmetic products. Kim Goan Tae, CEO of Jace Company visited Darwin to seal the contract after negotiations with the Management Team at the NT Beverages head office based in East Arm.

“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,” said Goan Tae.

According to a research by Mintel, South Korean consumers 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.

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