Orion Receives First Dividend of 110 Billion KRW from Vietnam Subsidiary

Received 50 Billion Won at the End of Last Month
Additional 60 Billion Won to be Secured Next Month
Planned for Use in Jincheon Site Acquisition and Factory Expansion

Orion will receive dividends amounting to about 100 billion won from the profits of its overseas subsidiaries.

Orion CI
Photo by Orion

According to the food industry on the 7th, Orion received 50 billion won in dividends from its Vietnam subsidiary at the end of last month. Next month, it plans to bring in an additional 60 billion won in dividends from the Vietnam subsidiary. This is the first time Orion has brought dividends from its Vietnam subsidiary to Korea.

The dividends will be used for purchasing land in Jincheon-gun, Chungbuk, expanding factories, constructing logistics centers, and repaying borrowings.

Orion began exporting Choco Pie to Vietnam in 1995 and established its Vietnam subsidiary in 2005. In 2006, it built the Ho Chi Minh City My Phuoc factory, followed by the Hanoi Yen Phong factory in 2009, strengthening its business in Vietnam.

Annual sales of Orion's Vietnam subsidiary surpassed 200 billion won in 2016, 11 years after its establishment, and exceeded 300 billion won and 400 billion won in 2021 and last year, respectively.

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