S. Korean confectionary firms post robust overseas sales in 2020
South Korean confectionary companies led by Orion Corp. enjoyed brisk overseas sales in 2020, fueled by the popularity of Korean pop culture and food abroad.
Orion Corp. sold approximately 1.5 trillion won worth of products overseas last year, with sales in China reaching some 1.1 trillion won.
Vietnam was Orion's second-biggest market with sales of 292 billion won followed by Russia with 89 billion won.
Choco Pie, a chocolate-covered marshmallow snack, was Orion's bestseller with overseas sales at 381.4 billion won last year, up from 341.4 billion won.
Other major South Korean confectionary companies that chalked up substantial overseas sales were Lotte Confectinery Co., Crown Confectionery Co., and Haitai Confectionery & Foods Co.
Sales of Lotte's version of Choco Pie surged to 101 billion won in 2020 from 93 billion won a year earlier.
Lotte operates four overseas Choco Pie plants, two in India, one in Russia, and another in Pakistan.
Meanwhile, overseas sales of Lotte's Pepero reached 35 billion won last year.
Crown's exports surged 10 percent on-year to 22 billion won in 2020, and those of Haitai surged 20 percent to 40 billion won.