This undated file photo provided by Orion Corp. shows a customer holding the company’s Bungo pie at a supermarket outlet in Russia. (Yonhap)
SEOUL, Dec. 29 (Korea Bizwire) — Orion Corp., a South Korean food and health care company, said Monday it will invest 240 billion won (US$167 million) to expand its production facilities in Russia by 2027 to meet growing local demand for K-foods.
Orion currently operates two plants in Russia — one in Tver and the other in Novosibirsk — and plans to expand the Tver facility, a company spokesperson said.
Last month, the company began supplying its Charm Bungeo pie, marketed as the Bungo pie in Russia, to some 20,000 local retail outlets, including discount chain Tander Hyper and supermarket operator Magnit, the company said in a press release.
Orion established a subsidiary in Russia in 2003, and its accumulated local sales exceeded 1 trillion won in 2021. The company expects cumulative sales to surpass 2 trillion won this year on strong demand for its products.
Orion currently operates seven plants in South Korea and 11 overseas — six in China, two in Vietnam, two in Russia and one in India.
(Yonhap)
