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[Alpha Biz=(Chicago) Reporter Kim Jisun] Orion will receive about 100 billion won in dividends out of its overseas corporate profits.
According to the food industry on the 7th, Orion received 50 billion won in dividends from its Vietnamese subsidiary at the end of last month. An additional 60 billion won in dividends will be brought in from the Vietnamese corporation next month. This is the first time Orion has brought dividends into Korea from its Vietnamese subsidiary.
Dividends will be used to purchase Orion's site in Jincheon County, North Chungcheong Province, expand factories, build logistics centers and repay borrowings.
Orion previously started exporting Choco Pie to Vietnam in 1995 and established a Vietnamese corporation in 2005. It strengthened its Vietnamese business by establishing the Mi Phuc plant in Ho Chi Minh in 2006 and the Yen Phong plant in Hanoi in 2009.
Annual sales of Orion's Vietnamese subsidiary surpassed 200 billion won in 2016, 11 years after the company was established, and 300 billion won and 400 billion won, respectively, in 2021 and last year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
