[Public Notice+] Arion Technology Signs Supply Contract for 10 Million KF94 Masks Worth 11 Billion KRW

[Asia Economy Reporter Eunmo Koo] Amid the rapid spread of the novel coronavirus infection (COVID-19) and the ongoing shortage of masks in South Korea, Arion Technology has signed a large-scale supply contract for 'KF94 masks.'

Arion Technology announced on the 26th through a public disclosure that it has signed a contract to supply 10 million 'KF94' masks with PicoTera Co., Ltd., a distribution specialist company. The contract period is one year starting from the 26th, and the contract amount is 11 billion KRW.

With this contract, Arion will supply 100,000 KF94 masks daily within South Korea starting from the 7th of next month. The company explained, "We receive 100% payment for the shipped quantity upon product shipment," and "For the initial 1 million masks, payment will be automatically received from the escrowed amount." After the initial 1 million masks, the supply volume will be adjusted through mutual agreement based on market conditions.

An Arion representative stated, "Currently, there are purchase requests for tens of millions of masks both domestically and overseas," adding, "Since the government has implemented the 'Emergency Supply and Demand Adjustment Measures for Masks and Hand Sanitizers' starting from the 26th, the company will prioritize supplying masks domestically and plans to promote overseas supply once export restrictions are lifted."

This content was produced with the assistance of AI translation services.