Confectionary maker Orion plans to invest 830 billion won ($581 million) to expand its production facilities at home and abroad, with the goal of joining the "5 trillion won sales club" shortly as Korean snacks surge in global popularity.
A shopper looks at a pack of Orion's flagship product, the Choco Pie, at a store in Seoul on Feb. 27.
Bags of Orion's rice snack Newrungji are displayed at a discount mart in Seoul on Feb. 19.
Pictured is Orion's headquarters in Yongsan District, central Seoul, on Feb. 12.
Exports of Korean snacks and beverages have risen sharply last year, driven by the growing global popularity of Korean cuisine, government data showed Wednesday.
Tam Suh-won, the heir of confectionary company Orion, was promoted to vice president during a reshuffle on Monday, only three years after joining the company.
Orion and Haitai Foods raised the prices of chocolate-based snacks by as much as 20 percent as the the cost of cocoa continues to soar.
Models present Orion products that are part of a special pricing event marking 10 years without a price hike on its most popular products at the Homeplus Mega Food Market in Gangseo District, western Seoul, on Thursday.
People walk past Orion's "Kernel Fruit Shop" pop-up in Gwangjang Market, central Seoul, on Monday.
Lotte Wellfood, Korea's largest chocolate manufacturer, will hike the prices of 17 chocolate snacks and ice creams by an average of 12 percent from May as cocoa prices jump due to recent weather conditions in West Africa.
Korea JoongAng Daily Sitemap
