"The credit union introduced us to people in the area, and that helped get our name out. We had been thinking about widening our product line and finding sales channels, so that worry has eased."
Lee Jae-hoon, head of Orbis, described his company's partnership with the MG Community Credit Cooperatives this way when met on the 24th at Janghang 1931 Plaza in Janghang-eup, Seocheon County, South Chungcheong Province. Rain fell on the plaza that day as residents and tourists carrying umbrellas gathered at a fragrance experience booth. On the tables sat purple scent sachets and diffusers inspired by Janghang's sea, pine forests and sunsets. The event, tied to a music festival organized by the Janghang-eup residents' council, was staged to promote the scents of the area.
Orbis is a local social enterprise that makes accessories using Hansan ramie fabric and sea glass. But with the recent rise in silver prices adding to the burden on its existing business, the company needed a breakthrough to secure new products and sales channels. The Janghang-eup residents' council, which had taken note of Orbis's environmental cleanup work, introduced the company to a support program run by the Korean Federation of Community Credit Cooperatives and connected it with the Seocheon County Community Credit Cooperative, creating an opening for the business to expand.
Orbis was selected for the federation's MG Hope Sharing program to foster social and solidarity economy organizations, receiving 50 million won in project funding along with growth support. It also signed a cooperation agreement with the Seocheon County credit union aimed at shared regional growth. The credit union linked Orbis's fragrance experience program to a local music festival it had funded from its own budget, and brought in 40 members of its MG volunteer corps as well as local institutions. That was the backdrop to the launch of the "Janghang Breeze" project, in which residents choose scents themselves and join beach cleanup activities.
"We had taken part in various local festivals before, but we were limited by cost and manpower," Lee said. "After we met the credit union, many people came, starting with the volunteer corps, and as we were introduced to people in the area, our chances to make Orbis known grew." Lee plans to sell the newly developed diffusers as tourism products and to expand into creating scents for festival venues. The idea is to build new revenue streams by combining tourism commentary with craft experiences.
The Korean Federation of Community Credit Cooperatives expanded a youth-focused local support program it launched in 2024 into this year's program for fostering social and solidarity economy organizations. It provided 50 million won each to 20 new organizations and 20 million won each to five existing organizations that had performed well in the program. "We will connect the credit union's human networks and resources so that local companies can grow," said Hong Soon-kyung, chairman of the Seocheon County Community Credit Cooperative. "We will not stop at one-off support. We will identify social contribution models that work together with companies and residents, and expand our support."
