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2020
ORIO
N 2
02
0
EN
Contents2 Management Policy
4 Corporate History
8 Business Overview
10 Ethical Management
12 Good Packaging Project
Confectionery Business
16 South Korea
24 China
30 Vietnam
34 Russia
New Businesses
38 Jeju Yongamsoo
40 Market O NatuRE
42 Desserts
43 Overview of New Businesses
Export Status
44 Global Sales Network
Subsidiary and Basketball team
46 Showbox
47 Orion Basketball team
Financial Status
48 Financial Highlights
Dear customers and shareholders
In 2019, Orion recorded sales of USD 1,735.8
million and operating profit of USD 281 million,
hitting the record high operating profits since
its establishment.
In addition, Orion successfully released
its premium mineral water ‘Orion Jeju
Yongamsoo (Orion Jeju Volcanic Mineral
Water),’ presenting a new growth engine.
Orion Korea has continued its steady growth,
while the Chinese subsidiary recorded the
company’s highest-ever operating profit
ratio and the Vietnamese subsidiary made
its highest growth, thereby supporting the
Group’s growth.
In the domestic confectionery market,
‘Chicken Pop,’ ‘Taste of the Sun! SUN’ and
‘Baebae,’ which were relaunched, following
popular demand by consumers, led the new
retro (Newtro) trend gaining popularity in the
market. Differentiated new products such as
‘Chal Choco Pie’ and ‘Dr. You Protein Bar’ also
led to growth, with sales of USD 628.7 million,
up 2.9% year-on-year. In particular, operating
profit exceeded USD 85.8 million, a record high
again. The Chinese subsidiary recorded growth
in sales and operating profit by 4.4% and 12.0%
YoY, respectively, boosted by the launch of
new products, the opening of new stores in
Huanan area, the recovery of market share in
the existing retail market, and the expansion
of online sales channels. The operating profit
ratio also exceeded 16% thanks to higher cost-
effectiveness and innovation in sales and
logistics structures, recording the highest
operating profit ratio.
The Vietnamese subsidiary recorded the
highest sales and operating profit of 7.9%
and 16.5%, respectively. Rice cracker ‘An,’
and bread ‘C'est Bon,’ which have pioneered
new categories, are gaining popularity as
new growth engines, and sales of ‘O’star
(Pochachip)’ and ‘Swing (swing chip),’ which
have increased the weight of contents without
increasing price as an effort of the ‘Good
Packaging Project,’ also grew, supporting the
earnings of the Vietnamese subsidiary. The
Russian subsidiary succeeded in expanding
its Choco Pie lineup, launching new products
such as ‘Goute (Gosomi),’ and ‘Soft choco
chip cookie,’ contributing to growths in sales
and operating profits by 19.2% and 60.5%,
respectively.Showbox, a film distribution
and investment business, recorded eight
consecutive years of surplus showing stable
performances in 2019 by releasing various hit
films such as ‘Money’ and ‘The Battle.’
Orion will continue to pursue differentiated
growth strategies . In Korea, we plan
to expand our market share through a
strengthened confectionery product lineup,
while establishing new growth momentum
by starting new businesses in earnest. In
particular, we will not only successfully
promote the premium mineral water “Orion
Jeju Yongamsoo” in the domestic market, but
also export it to China and Vietnam to test
potential overseas markets. We plan to expand
the CMR Market O NATURe product line
including ‘Oh! Granola,’ and expand the sales
channel of ‘Dessert Choco Pie’ to convenience
stores, etc., targeting young consumers.
The Chinese subsidiary, which is the center of
our overseas business, will strive to reinforce
sales of existing products such as pies and
snacks as well as new products with the goal
of establishing a solid growth foundation.
At the same time, we will actively develop
new growth engines such as seaweed snack
and ‘Orion Jeju Yongamsoo.’ In Vietnam, we
plan to enhance the brand power of fresh
potato snacks and expand the market share
of rice crackers and breads that we have
successfully entered. We plan to release new
products in the categories of jelly and cookies
to strengthen our dominance in Vietnam’s
Message from the Chairman
confectionery market. In Russia, Orion plans to
grow its market by expanding the Choco Pie
lineup. We will make a new start by diversifying
our product lineup, and nurturing new growth
engines such as biscuits and seaweed snacks.
In the entertainment sector, Orion's Showbox
plans to bring critically acclaimed and
commercially successful films to the market,
securing new competitiveness in contents
markets.
In 2020, Orion will continue to strengthen its
product competitiveness and successfully
launch new businesses under the management
policy of ‘sustaining healthy growth,’ while
ensuring a profit-and efficiency-oriented
management system. We will enhance
our capability to implement the ethical
management of employees both at home
and abroad. And all our global subsidiaries will
recognize the value of ethical management in
accordance with our business approach, while
developing our environmental management
and a win-win growth system. At the same
time, we will provide more value to consumers
based on our business philosophy of supplying
delicious and quality products at reasonable
prices, becoming a company that prioritizes
customer satisfaction.
Tam Chul KonChairman, The Orion Group
Message from the ChairmanEvolving from a confectionery maker into a global total food company!The year 2020 will be the year in which Orion
accelerates its new business to evolve from a
confectionery maker into a global total food player.
Since our establishment in 1956, we have led the
world confectionery industry for 64 years by offering
customers high-quality products that are always tasty
and popular based on our founding vision of “making
food with the most honest mindset.” Now we are
laying the foundations for becoming a global total
food company, while also retaining our commitment
to honesty and transparency and the manufacture
and sale of high-quality products based on ethical
management.
ORION 2020 Management Policy
South Korea
• Significantly enhance the
functioning of R&D headquarters
at the global research center
• Drive the growth of the
convenience meal replacement
(CMR) market (Granola) (expand
product lineup and categories)
• Make successful entry into
premium mineral water markets
and actively explore overseas
markets
• Strengthen the development
capability of beverage products
based on volcanic water such as
carbonated water
• Strengthen market dominance
of potato snacks
- Secure a competitive edge
over competitors (extend
production lines and supply
power of raw potatoes)
• Increase market share of rice
snacks and bakery products
• Create more opportunities to
enter the beverage market
Vietnam
First year of multi-product
lineups
• Grow markets through
expansion of Choco Pie flavor
• Successfully establish
foundation for the biscuit
market (Soft Choco Chip
Cookies, Goute)
• Actively seek market entry
opportunities for new
products such as seaweed
snacks
Russia
Establishing a Strong Growth
System
• Relaunch existing products
(Pies, snacks)
• Aggressively expand markets
for seaweed snacks and pioneer
the bottled water market
• Actively develop and launch
new products
China
4• Build a fair organizational culture
• Continue to establish ethical management values in alignment with business
• Continuous eco-friendly management, deepening shared growth management
Enhancing Capability
to Implement Ethical
Management
2• Continuously pursue ‘Slim-Work’ system
• Implement the ‘Team system’
- Increase flexibility in organizational operation
- Improve work efficiency and establish a prompt decision-making system
• Complete dealer direct supply logistics system in Vietnam
Implementing
a Profit- and
Efficiency-Oriented
Management System (Lower Costs, Higher Quality)
3• Construct new plant in Russia
- Transparent and efficient cost management (construction, facilities)
- Compliance with schedules through strict process management
• Successfully enter the Indian market
- Improve operational efficiency of plants and facilities
- Select products and sales channels through thorough market research
- Build an ethical organizational culture
• Bio business: Realize a fast return and secure investment opportunities for future
growth
Continuing Stable and
Steady Growth in
New Businesses
02 03
1Sustaining Healthy Growth
Based on Strengthened Product
Competitiveness
Orion’s number one reason for being is to supply its many customers with
delicious and high-quality products at the most reasonable prices possible.
We are committed to winning and maintaining the trust of our customers
by adhering to the principles and standards of ethical management at all
times.
Management Policy
ORION 2020 Corporate History
Orion was founded in 1956 when the
company’s founder and chairman,
Mr. Lee Yang-gu, acquired Pungkook
Confectionery. Since then , the
company has led the country ’s
confectionery market with such
popular product as caramels and
candies. It also pioneered many of
South Korea’s manufacturing facilities
for confectioneries, and developed
a wide range of new, exciting, and
innovative products.
Orion: Differentiated
from the Beginning
1956 - 2020
Only ORION, the ORION Way
Orion leads the market by creating and developing unique brand value through innovative ideas and methods.
Orion is vigorously advancing toward becoming a world-class company through the competitiveness of “Only
ORION,” which conveys its sincerity to customers and creates new, unique value.
1956acquired Pungkook Confectionery
Company name changed to Tongyang Confectionery Corporation
1950sA National Confectionery Business Takes Root
1956. • July: Acquired Pungkook Confectionery
• September: Company name changed to
Tongyang Confectionery Corporation
1957. • June: Built South Korea’s first state-of-the-art
candy manufacturing facility
• December: Started selling ‘Orion King Drops’
1958. • September: Began using automatic molding
machine for the making of soft biscuits
1960sTechnology Development
1960. • Launched Mommy Biscuit
1962. • Started selling Fruits Drops, Chewnut
Candy, Happy Biscuits, and Orion Crackers
1965. • Started developing premium-level
products
1967. • Started selling Choco Candy
1968. • August: Switched to automatic candy
packaging
• September: Started selling chocolate bars,
including ‘No. 1 Chocolate’ and ‘Nimege
Chocolate’
1970sOpening the Age of Choco Pie (Overcoming Crisis)
1971. • Faced with bankruptcy of Tongyang Confectionery
Corporation due to after-effects of receivership of
Tongyang Cement
1973. • Began program of financial stabilization and
management rationalization
1974. • April: Launched Choco Pie
1975. • June: Conducted 1.66 million share IPO
1976. • Began exporting chewing gum
• August: Started producing Cuttlefish Peanut Balls
1977. • May: Introduced South Korea’s first-ever automatic
biscuit packaging process
Launched Choco Pie
1974
Started developing
premium-level products
1965
Began using automatic molding machine for the making of soft biscuits
1958Switched to automatic candy packaging
1968
Started producing Cuttlefish Peanut Balls
1976
04 05
1988Launched Pocachip Mr. tam Chul Kon
appointed
President and CEO
1989
Launched “Jeong” (emotional Bondage)Chocopie advertisement series
1989
1980sSecond Stage of Growth
1983. • Began production of Diget
1985. • Established industry’s first marketing department
1987. • July: Established Orion-Frito Lay Co., Ltd., a joint
venture with PepsiCo of the United States
1988. • Launched Pocachip
1989. • Launched “Jeong” (Emotional Bondage)
Chocopie advertisement series
• Launched Flavano, South Korea’s first breath
refreshment gum
1989. • December: Mr. Tam Chul Kon appointed as
President and CeO
In 1974, Orion introduced ‘Choco Pie’ to the market and started
to rewrite its history in the confectionery industry with its unique
product. Sales of Choco Pie have grown by more than 100% each
year since its first release and played a major role in establishing
the foundation for the development of Orion today. Currently,
Choco Pie is loved by global customers with sales of more than
2.3 billion units per year.
Orion Choco Pie
Marking its 64th anniversary, Orion has grown into a full-service food
company beyond just the confectionery industry, and it plans to expand
its business area in 2020 by targeting the global market.
Corporate History
ORION 2020 Corporate History
2000sGrowing into a Global Player
2001. • established Orion Group
• New Chairman Tam Chul Kon inaugurated
2002. • Built manufacturing facility in Shanghai
2003. • Company name changed to Orion Corporation
2004. • Parted ways with PepsiCo., and changed name to Orion Snack
International
2006. • Built the 2nd manufacturing facility in Langfang, China
• Built manufacturing facilities in My Phuoc, Vietnam,
• Built manufacturing facilities in Tver, Russia
• Launched Innovation Project Step 1 - Reducing Level of Trans
Fats
2007. • Launched Innovation Project Step 2 - Reducing Level of
Saturated Fats
• Launched Innovation Project Step 3 - “Green” Packaging
2008. • Built manufacturing facility in Novosibirsk, Russia
• Launched Dr. You
• Launched Market O
2009. • Built manufacturing facility in Yen Phong, Vietnam
• Awarded HACCP certification for all manufacturing facilities,
a first for South Korea’s confectionery industry
After 2010Making the 2nd leap, beyond the 60th anniversary
2010. • Built manufacturing facility in Guangzhou, China
2013. • Annual sales in China exceeded USD 913.2 million
2014. • Carried out Good Packaging Project, a first in the domestic
confectionery industry
• Built the manufacturing facility in Shenyang, China
2015. • Cumulative sales in Vietnam exceeded USD 883.8 million
• Declared commitment to principled and ethical management
2016. • Operating profit exceeded USD 258.5 million
• Annual sales in Vietnam exceeded USD 172.3 million
• Launched Choco Pie Banana
• Established a joint venture with the National Agricultural
Cooperation Federation for the production of premium-quality
processed foods
• Acquired ‘Jeju Lava Water’
2017. • Launched KKobuk Chips
• Announced entry into global beverage business
• Opened first Choco Pie House
2018. • Launched ‘Market O NATURe,’ a CMR brand
• Completed construction of ‘Orion Nonghyup’ Miryang facility
• Expanded opening of ‘Choco Pie House’ nationwide
• Obtained ‘Green Certification’ from the Ministry of Environment
for the first time in the confectionery business
2019. • Built production plant of ‘Orion Jeju Yongamsoo’
• Launched a premium mineral water, ‘Orion Jeju Yongamsoo’
• Achieved the highest -ever operating profits
• Introduced eco-friendly packing material printing equipment
• Launched ‘Chal Choco Pie’
1990sTransitioning and Advancing
1993. • January: Mr. Tam Chul Kon took office as Vice Chairman
• February: Established office in Beijing
• September: Began exporting Choco Pies to Russia
1994. • April: Received plaque from Minister of Education for help in
replacing old desks and chairs in elementary schools on remote
islands and rural areas in South Korea. The program was carried
out to mark the twentieth anniversary of the introduction of
Choco Pie
1995. • Established ORION Food, a local subsidiary in China (OFC)
• November: Winning a USD 10 Million Export Tower award
1996. • Value of exports reached USD 26.5 million
• Established basketball team
1997. • Established Langfang plant 1 in China
2001Established Orion Group
New Chairman tam Chul Kon
inaugurated
2016Operating profit exceeded
uSD 258.5 million
annual sales in Vietnam exceeded
uSD 172.3 million
2019Launched a premium mineral water,
‘Orion Jeju Yongamsoo’
achieved the highest -ever operating profits
Mr. Tam Chul Kon took office as Vice Chairman
1993Company name changed to Orion Corporation
2003
Orion’s first advance into China was made by establishing an
office in Beijing in 1993. Two years later, the company established
ORION Food (OFC), its Chinese subsidiary. This led to Orion's
winning of a USD 10 Million export Tower award in 1995, with
the value of its exports in 1996 exceeding USD 26.5 million. The
company established a production facility in Langfang in 1997,
and expanded its supply chain to include the cities of Shanghai,
Tianjin, and Dalian.
In 1988, Orion released ‘Pocachip’, a potato snack made with
more than 95% real content. It has retained its No. 1 sales position
in the potato chip market since 2000, becoming a byword
for all South Korean snack foods in the process. In December
1989, as founder Chairman Lee Yang-gu passed away, Orion
appointed Vice President Tam Chul Kon as CeO, seeking further
development.
Orion Pocachip advancing into China
2019~
Since declaration of its intention to become a ‘global full service
food company’ in 2017, Orion has started a variety of new
businesses such as ‘Premium mineral water’, ‘Convenient Meal
Replacement (CMR),’ and ‘desserts,’ and it is transforming
into a global total food player beyond the boundaries of the
confectionery business. Orion will continue to grow to become
a global full service food company, competing with world-
class food companies based on over 60 years of manufacturing
know-how and a solid global network of overseas subsidiaries in
China, Vietnam and Russia.
Evolving into a Global Total Food Company
06 07
1995Established ORION Food,
a local subsidiary in China
2013annual sales in China exceeded uSD 913.2 million
08 09ORION 2020 Business Overview
SOutH KOREa
ORION CORpORaTION
Iksan Iksan Factory
Establishment 1980. (Factory II) 1982. (Factory III)Products Pies, Snacks,
Biscuits, Chocolates
ansan Ansan Factory
Establishment 1986.Products Packing Materials
CheongjuCheongju Factory
Establishment 1994. (Factory Ⅳ) 2017. (Factory Ⅴ)Products Pies, Snacks,
Biscuits, Gum, Candies
MiryangMiryang Factory
Establishment 2016.Products Snacks, Granola
JejuJeju Factory
Establishment 2019.Products Beverage
VIEtNaM
My phuoc, Ho Chi Minh CityMy Phuoc Factory
Establishment Dec. 2006Products Pies, Snacks, Gum
Yen phong, HanoiYen Phong Factory
Establishment Sept. 2009
Products Pies, Snacks, Biscuits
CHINa
Hebei Langfang
ORION Food Co., Ltd.Langfang Factory
Establishment May 1997 (Factory I) May 2006 (Factory II)Products Pies, Snacks,
Biscuits, Gum, Candies
Hebei Langfang LangFang IpaK packing Co.,Ltd.Langfang Factory
Establishment Nov. 2002Products Roll type, Pouch
type Package Film
Shanghai Qingpu Shanghai Factory
Establishment Sept. 2002Products Pies, Snacks,
Biscuits
Guangdong GuangzhouGuangzhou Factory
Establishment Jan. 2010Products Pies, Snacks,
Biscuits
Liaoning Shenyang Shenyang Factory
Establishment Jan. 2014Products Snacks, Biscuits
RuSSIa
Tver Tver Factory
Establishment Mar. 2006Products Pies, Biscuits,
Chocolates
Novosibirsk Novosibirsk Factory
Establishment Apr. 2008Products Pies, Biscuits,
Chocolates
20192017
141
1,544.7
281
1,735.8
2018
256.5
1,751.2
2015
264.5
2,105.5
2016
281.1
2,056.3
Status of Manufacturing Facilities
1.Launching Premium Mineral Water ‘Orion Jeju Yongamsoo’
Orion entered the global mineral water market in earnest with the launch of the premium mineral water, ‘Orion Jeju Yongamsoo.’ Orion Jeju Yongamsoo is a mineral water brand launched by Orion, which is advancing toward becoming a global total food company. Orion plans to successfully solidify the position of Orion Jeju Yongamsoo in the domestic market through home delivery and B2B sales, and expand its markets to China and Vietnam actively using Orion’s proprietary global sales networks and marketing know-how.
2.Orion, ‘Recording Company’s Highest -Ever Operating Profit in 2019!’
Orion recorded sales of USD 1,735.8 million and operating profit of USD 281 million in 2019 on a consolidated basis, the highest operating profit since its founding. Sales grew 5% year-on-year, while operating profits grew 16% YoY. Not only Orion Korea, but also Chinese, Vietnamese and Russian subsidiaries experienced increases in sales thanks to differentiated new products and efficient operation. This year, Orion will sustain its healthy growth by strengthening its product power and successfully carrying out new businesses, while securing its profit and efficiency-oriented management.
3.Developing Eco-Friendly Packaging Materials
Orion introduced a 'Flexographic' printing facility for the production of eco-friendly packaging by investing USD 6 million. Unlike conventional ‘Gravure’ printing, flexographic printing can significantly reduce ink usage through embossing printing. This will reduce annual ink consumption by more than 50%, which is expected to contribute greatly to environmental protection. Orion simplified the design of 10 brands in total, including Fresh Pie, Soft Choco chip cookie, and Diget, from July to November 2019, lowering the degree of prints. We lowered the degree of printing of individual packaging products from 3-8 degrees below 3 degrees, reducing the use of ink by 27 tons, which is 24% of the amount used. Considering the annual production of these products, we saved about 90 tons of ink per year.
2019 Highlights
Changes in Sales Over Past Five Years
Sales
Operating Profit
Unit: USD million
*2015-2016: Based on consolidated financial statements (pre-divestiture)*2017-2019: Based on consolidated financial statements of Orion Holdings and Orion Corporation (post-divestiture)
Orion advanced into China in the 1990s, at a time when most South Korean
companies focused on the domestic market. Since then it has become
a global player, entering Vietnam and Russia as well. Orion has built and
developed its global brand with a brand power that attracts customers
all over the world, operating ten manufacturing facilities in China, Russia,
and Vietnam. Orion is committed to sustaining its growth with the
differentiated quality and strategy.
Business Overview
10 11ORION 2020 Ethical Management
• Ensure highest levels of product quality and healthfulness
• Enhance customer satisfaction through “Good Packaging Project”
• Continue developing customer-centered, high-quality products
• Reflect customers’ opinions and suggestions in product development
• Advance business policies and operations through an exclusive organization for
win-win growth with partners
• Strengthen programs supporting improvements of quality and technology
• Shorten time needed for making payments (payment in cash)
• Increase level of profit-sharing and win-win growth cooperation
• Ensure transparency in choosing and managing business partners
• Ensure all information and communications are open, honest, and transparent
(make monthly disclosures, etc.)
• Make impartial management decisions that are BOD-led
• Continue commitment to profit-oriented management
• Operate CSR programs: Operate employees caring and sharing CSR program,
counter school violence and help malnourished children, and continue operating
armed forces personnel sponsorship programs, etc.
• Implement eco-friendly management: Establish and implement eco-friendly
policies throughout the whole process of development/production/sales/
abandonment
• Comply with the laws: Carry out preventive activities to manage legal/ethical risks
2.pursuecustomersatisfaction
3.Win-win growthwith partners
4.Increase in shareholder value
5.Serve the community
• Operating an ethically committed
organization
In order to build a more ethical organizational
culture, change the ways in which it operates,
and practice its corporate social responsibilities,
Orion created a CSR organization in all
subsidiaries that will contribute to the well-being
of both its internal and external stakeholders.
• Adopting ethical norms and practical
guidelines for the Group
Orion has established ethical norms and
practical guidelines that reflect the goal of
ethical management pursued by Orion and
directions for each stakeholder of the Group,
and all the employees and officers strive to
engage in practical ethical management
activities that are aligned with their work.
• Establishing a global ethical management
system
All the subsidiaries of Orion are engaged in
activities establishing an ethical organizational
culture through global operating standards.
Orion measures an ethical practice index of
each legal entity to strengthen its strong points
and supplement the weaknesses by measuring
the level of practice of ethical management,
operating an ethical management evaluation
system to enhance and motivate employees'
implementation of ethical management, and
conducting periodic surveys on satisfaction
level with employees and partners to collect
information on satisfaction level and opinions
from the stakeholders.
• Operating an ethical management system
Orion operates a CSR activity participation
system that enables all employees and
officers to manage their own participation in
ethical management. We are also responding
proactively to vulnerabilities through integrated
incident and accident management of all
corporates by establishing an effective
reporting system.
In addition, Orion has laid the foundation for the
implementation of ethical management through
a whistleblower system that enables employees
to report unethical behavior in the organization
anonymously, and a voluntary reporting
system that ensures the establishment of a
transparent and impartial relationship with
stakeholders (reporting of giving or receiving
of gifts and monies, reporting of transactions
with acquaintances, and reporting of donating
external lecturers’ fees).
• Implementing activities spreading ethical
management
Since the introduction of ethical management,
Orion regularly provides position- and division-
oriented training on ethical management/
briefing sessions on ethical management and
theme activities for ethical practices to promote
ethical management. In addition, Orion is
strengthening ethical management practices in
the field by selecting key talent in each division
as ethical management leaders and making
them communicate better in the field.
• Protect employees through compliance with standards of ethical behavior
• Share in management performance through profit-sharing
• Share information and communicate openly
• Improve quality of life for employees
• Improve levels of employee benefits and programs by better reflecting
employees’ opinions
1.Respect employees and officers
Committed to strong andsustainable growth
Contributing to the interests of all stakeholders
Maximize profits
Business management on the basis of compliance and ethical behavior
Customers partners Shareholders
Pursue customer satisfaction
Win-win growth with partners
Increase in shareholder value
Case Study for Ethical Management of Each Stakeholder Group
Major Initiatives in the area of Ethical ManagementOrion Group declared its belief that ‘ethical management’ must always be the core value of its management activities as it continues its business activities.
ethical management at Orion Group means contributing to the interests
of all stakeholders based on earnings generated through the operation of
compliance- and ethics-based businesses.
Ethical Management
Social contribution
Serve the community
Employees
Respect employees and officers
12 13Good Packaging Project
2014 Nov.
Nuneul Gamja 6% Reducing packagingmaterial and empty spaceof 20 products includingPocachip, Swing Chip,Nuneul Gamja and KingMarine Boy.
Real Cheese Chips 3%
King Marine Boy 4%
Real Brownie 14% (7 → 8)
2015
Mar.Twenty products including Ye Gam, Choco songi
Simplified design, lowered degree of print, and reduced ink use by 88 tons per year
Sept.
Pocachip10% / empty space ration inside the product,21% → 18.7% or lower
Wow Gum 11%
Marine Boy 18%
Oct. Choco Pie 11%
2016
Jan. Real Brownie 20%
Jul.
The Xylitol (case) 34%
The Xylitol (refill) 6% / Removed paper case
Diget Sand, Na, Cameo Reduced case height by 2cm
Choco Songi (50g) Reduced case width by 1.2cm
2017apr. Cake Haute 20% (5 → 6, 10 → 12)
Nov.Six products including Choco Pie,Pocachip and Ye Gam
Developed and applied eco-friendly packaging material
2018 Sept. Soft Choco Chip Cookie 33% (6 → 8, 12 → 16)
Jelly Boy 12% (58g → 65g, 120g → 135g)
2019
Jan.Market O NATUReO!Granola
10%
O!Granola Fruit & O!Granola vege. 300g → 330g, 180g → 200g
O!Granola black bean 330g → 363g, 198g → 220g
Feb. Chicken Pop 10%
Jun. Pasta Chip
80g → 100g
Lowered the price per gram between 16.7% and 20%
Removed the to-go box
2020 Jan.Market O NATUReO!Granola Bar
30g→35g
Lowered the price per gram by 16.7%
ORION 2020
time Name of ProductWeight /
Packaging material reduced/improved
•Increasing the weight of products
Orion str ives to deliver more value to
consumers by increasing the weight of content
without changing prices. Orion has steadily
increased the weight of 17 products, including
Choco Pie, Pocachip, O!Granola, and Chicken
POP, which are Orion’s flagship products, and
Orion will continue its efforts to return the
benefits of cost-reduction to consumers.
• Reducing packaging size and empty
space inside the product
Orion has reduced the size of its packaging
mater ia ls s ince 2015 , long before the
environmental pollution problem became a
social issue. Orion has lowered the percentage
of empty space inside the major snacks such
as Pocachip, Cuttlefish Peanut Ball, and Swing
Chips to less than 25%, which is much lower than
the Ministry of environment standard of 35%,
and reduced the packaging size by 7% to 21%.
• Developing eco-friendly packaging
material
Orion has simplified the design of 10 brands,
including Fresh berries, Soft Choco Chip
cookie, Diget and Fresh Cream Pie and lowered
the degree of prints from July to November
2019. Considering the annual production
volume of those products, Orion has reduced
the use of ink by about 90 tons per year. In
2015, Orion lowered the degree of prints of 22
brands and reduced the use of ink by about
88 tons. By improving packaging material
over two occasions, Orion has reduced the
ink used when manufacturing the packaging
material by about 178 tons per year. In addition,
we have launched a ‘Green Packaging
Project’ for developing packaging materials
harmless to the human body. By minimizing
the harmful substances generated during the
production process of packaging materials, we
not only helped to protect the environment,
but also improved the work environment
of the workers on the packaging materials
production line. In 2017, Orion succeeded in
developing environment-friendly packaging
materials that do not use methyl ethyl ketone
and ethyl acetate, jointly with its suppliers, and
for the first time as food packaging material,
the packaging material obtained the ‘Green
Technology Certification’ from the Ministry
of environment. Since March 2020, Orion has
started to produce eco- friendly packaging
material utilizing 'Flexographic' printing
method, which can reduce the use of ink by
50%.
Orion’s Logbook on Increasing Product Weight andReducing Packaging Materials
1.Reduce packaging size and
empty space inside the product
2.Increase the
weight of product
3.Develop eco-friendly packaging material
Enhacing customer
satisfaction
Main action Points for ‘Good Packaging Project’ of the Orion Group
pocaship’s empty space percentage inside the product reduced
21% 18.7%Soft Choco Chip Cookie
Choco pie
6
35g
8 (33% )
39g (11.4% )
As part of our ethical management efforts, as from 2014, when overpackaging in the
confectionery industry became a social issue, the Orion Group has implemented the ‘Good
Packaging Project’ to protect the environment by reducing packaging material size and ink
usage of products and to provide more value to consumers by increasing the weight of the
products.
Good Packaging Project
14 15ORION 2020 Confectionery Business
Orion has grown into a global company, building
production bases in China, Vietnam, and Russia, and
exporting a wide variety of products to the additional
foreign markets including the Americas, europe,
Southeast Asia, Oceania, and the Middle east.
Orion will continue introducing a wide variety of new
products that will appeal to consumers around the
world, while also extending its business operations
from a confectionery maker into a total food player.
Since our establishment in 1956, we have led the world
confectionery industry for 64 years by offering customers
high-quality products that are always tasty and popular based
on our founding vision of “making food with the most honest
mindset.”
Confectionery Business
16 17Confectionery Business : KoreaORION 2020ORION 2020
Miryang Factory
Jeju Factory
628.7 uSDmillion
2019 Sales in South Korea
ORION Corporation13 Baekbeom-ro 90da-gil, Yongsan-gu,
Seoul, South Korea
T. 82-2-710-6000 F. 82-2-718-4825
Iksan Factory II11 Seodong-ro 23-gil, Iksan-si, Jeollabuk-do, South Korea
T. 82-63-830-6114 F. 82-63-833-4654
Iksan Factory III317 Dongseo-ro, Iksan-si, Jeollabuk-do, South Korea
T. 82-63-830-6114 F. 82-63-858-2218
Cheongju Factory Ⅳ 249 Wolmyeong-ro, Heungdeok-gu, Cheongju-si,
Chungcheongbuk-do, South Korea
T. 82-43-279-6000 F. 82-43-276-6548
Cheongju Factory Ⅴ183 Wolmyeong-ro, Heungdeok-gu, Cheongju-si,
Chungcheongbuk-do, South Korea
T. 82-43-279-6600 F. 82-43-279-6691
ansan Factory22 Sandan-ro 20beon-gil, Danwon-gu,
Ansan-si, Gyeonggi-do, South Korea
T. 82-31-489-2642 F. 82-31-492-5006
ORION in South korea
Orion has been South Korea’s leading
confectionery maker for the past 64
years, delivering good taste and healthy
foods to consumers around the world.
Orion has become one of the leading confectionery companies in South Korea by
introducing a variety of products which were great hits in the markets, such as Choco Pie,
Pocachip, Cuttlefish Peanut Ball, and Marine Boy. In addition, we are leading the industry
trends by creating new products and brands such as Kkobuk chip, Market O, and Dr. You
with constant innovation efforts and technology development. Orion, celebrating its 64th
anniversary this year, will continue its efforts to develop products that will attract not only
South Korean consumers, but also global consumers.
South KoreaORION Corporation
ansan Factory
Cheongju Factory Ⅳ Cheongju Factory Ⅴ
Iksan Factory IIIksan Factory III
Miryang Factory 229-1 Jumpiljae-ro, Bubuk-myeon, Miryang-si,
Gyeongsangnam-do, South Korea
T. 82-55-802-5000 F. 82-55-802-8034
Jeju Factory 2706-27 Iljudong-ro, Gujwa-eup, Jeju-si, Jeju-do,
South Korea
T. 82-64-729-9900 F. 82-64-729-9999
The Brand power of Orion
every single product of Orion is made
with pride and dedication, as well as
a commitment to delivering the very
best in terms of quality, consumer
satisfaction, and food safety.
They include ‘Choco Pie’, a truly
global brand; ‘Pocachip’, becoming
a byword for high-quality potato
chips; ‘Kkobuchip’, the nation’s first
four-layered snack food; ‘Taste of
the Sun ‘Sun’ and ‘Chicken Pop’,
gained popularity leading the Newtro
trend; and ‘Marine Boy,’ which has
experienced rapid growth everywhere
it has been launched. These power
brand products have always been
recognized for their excellent quality in
South Korea and around the world.
Going forward, Orion will continue
enhancing it s brand power by
developing even more delicious and
healthier products.
premium Brands:
Dr. You and Market O
Orion is the leader of the confectionery
industry’s premium market with
Dr. You, boasting healthy and tasty
ingredients.
Dr. You is a prime example of Orion’s
commitment to making healthy snacks
that everyone can enjoy anywhere
and at any time. This reflects our goal
of developing hearty and healthy
foods adding to the quality of life of
our customers who can enjoy outdoor
sports.
Market O specializes in producing
premium-quality desserts considering
the current trends and introducing
brand new products to South Korean
consumers. It also operates a string
of restaurants to offer new lifestyle
choices to consumers beyond just
tasty food.
18 19Confectionery Business : KoreaORION 2020
Choco Pie
A Global Food Favorite
Choco Pie is South Korea’s leading global product, boasting
sales of over 2.3 billion units a year in more than 60 countries
around the world. Now marking its sixtieth anniversary in
2016, Orion recently introduced a new and delicious Choco Pie
product, Choco Pie Banana creating banana fad in the food
industries. Since we launched Choco Pie, Strawberry, a seasonal
limited-edition product for consumers seeking an exciting new
taste sensation in April 2017, we have released seasonal limited
editions continuously. In November 2019, Orion launched ‘Chal
Choco Pie Injeolmi (Korean traditional rice cake flavor)’ and ‘Chal
Choco Pie Black Sesame’ as part of its efforts toward starting
over again with new texture for the first time in 45 years. ‘Chal
Choco Pie’ has a savory taste with soft and sweetness of bread
developed with the time-honored manufacturing expertise of
Orion.
Kkobuk Chip
South Korea’s First Four-Layered Snack Food
Kkobuk Chip is South Korea’s very first four-layered snack food. As
soon as it was launched in March 2017, it became a national favorite
snack, creating a sensation in the domestic confectionery market.
It is characterized by rich texture and double flavor because it
creates the feeling of eating several chips with only one bite. When
you slowly chew your sweets, it maximizes the crispiness in your
mouth and the fun shapes resembling turtles are also the alluring
features of Kkobuk chip. There are deep and savory ‘Corn soup’
Kkobuk chip, attractive ‘Sweet cinnamon’ Kkobuk chip and Korean
classic dessert ‘Sweet Injeolmi flavor’ Kkobuk chip. It was released
in the overseas markets including China and the United States, and
recorded cumulative sales of USD 85.8 million in Korea as of 2019,
asserting its position as a global snack.
PocachipSouth Korea’s Number 1 Potato Chip, Becoming Mega Brand
Pocachip has satisfied the tastes of consumers since its launch in
1988, and has dominated the potato snack market for the past 17
years. In 2012 it rose to become a mega brand, with annual sales
surpassing USD 88.4 million (100 Billion KRW), a first in the potato
chip industry. This resulted from a rise in adult consumers, an
increase in quantity with no accompanying price change, and its
excellent quality demonstrating Orion’s accumulated expertise in
potato snacks. In September 2015, Orion increased the quantity of
its Pocachip products from 60g to 66g and 124g to 137g without
any price change. It also lowered the amount of empty space
inside the packaging to less than 25%, lower than the Ministry
of environment’s standard of 35%. This was done to address
consumer complaints that the actual contents seemed to be small
when compared to the bulky volume of the packaging. Orion
officially launched ‘Pocachip’ with roasted garlic flavor and hot soy
sauce, which were released as a seasonal limited edition in 2019 to
meet the growing demands of customers.
Fresh Cream Pie
New-Concept Fresh Cream Dessert
Fresh Cream Pie is a dessert pie filled with fresh cream in small
sizes. It has its unique features, such as soft texture of ‘softly’
meting in the mouth and rich flavor of real chocolate, becoming
representative cream Pie.
Products in South Korea
20 21Confectionery Business : KoreaORION 2020
Marine Boy
A Fun and Tasty Snack
Launched in 1984, Marine Boy has become popular with
consumers of all ages both in South Korea and abroad. The secret
to the popularity is its crispy texture and the ‘fun’ concept of
various marine life characters. In 2007, “King Marine Boy” was also
launched to expand consumer choice.
the Xylotol
Distinctively Different Fruit Flavors
The Xylotol is loved by dental-health-conscious consumers due to
its reasonable price and clean and simple tastes. In August 2016,
for The Xylotol comes in apple, lemon, and peach flavors, and
Orion increased the quantity of the product from 76g to 102g, 34%
without price change, gaining popularity among customers as
“gum with higher value for price.”
My Gummy
With the Richness of Real Fruit Juice
My Gummy was launched in 1992. It has been widely popular
among children as well as young women, with its taste, shape
and chewy texture featuring the shape of fruits. At the time of
its release, it was selected as one of the top-ten most popular
products in the confectionery sector. In 2019, ‘More Gummy My
Gummy’ was launched with more chewy texture and with more
quantity per unit of packaging to offer more choices to consumers.
Chicken Pop
Crispy Texture and Attractive Sweet & Spicy Chicken
Flavor
After being inevitably discontinued due to a factory fire that
occurred in 2016, ‘Chicken Pop’ was relaunched in February
2019 due to constant consumer demand. ‘Chicken Pop’ is
characterized by the fun of eating crispy sweets and the
seasoning that embodies the taste of real fried chicken mixed
with glutinous rice-jelly. ‘Chicken Pop with Cheese’, a product
which has harmonious taste of sweet and salty covered with the
cheese powder, was newly launched. It is loved by young people
for its reasonable price with 10% more quantity.
Bae Bae
Sweet and Soft Cookie
In October 2019, Bae Bae was back after seven years to meet the
demands of customers who remember the taste of sweet milk
powder and the texture of melting in their mouths. It is a cookie
that reminds one of good old memories of the times.
to You Chocolate
Rich Milk Taste
‘To You Milk Chocolate’ is characterized by a rich milk flavor. ‘To
You Chocolate’ is made with French pasture milk and it has rich
and creamy milk taste. ‘To You Cafe Latte’ is sweet and soft milk
chocolate with bitter sweet flavor of Yirgachefe coffee syrup.
In addition, ‘To You Mini’ is a mini- sized chocolate that has soft and
rich flavor and which you can enjoy anywhere, anytime.
DigetFullness Designed with Whole Wheat
Since its launch in 1982, Diget has been the Korea's representative
whole wheat biscuit that is characterized by its rough and savory
taste. There are four kinds of Diget to meet consumers' individual
preferences: ‘Diget Original’ with the sweet taste of whole wheat,
‘Diget Chco Biscuit’ with sweet chocolate, ‘Diget Mini Choco’ just
one bite, and ‘Diget THIN’ with thin texture that you can enjoy as a
light snack.
the taste of the Sun! ‘Sun’
A Perfect Combination of Whole Grains and Pleasant
Salty Taste
After being inevitably discontinued due to a factory fire that
occurred in 2016, ‘Sun’ was relaunched in April 2018 due to
constant consumer demand. Monthly sales of the product exceed
USD 2.6 million, which is 90% higher than before discontinuation
thanks to its non-replaceable product power such as savory and
crispy texture of whole grain, and addictive spice flavor. Customers
can enjoy the two flavors: hot & spicy; and additive garlic baguette
flavor that realistically conveys the taste and texture of garlic
baguettes. In particular, the garlic baguette ‘Sun’ was quickly
popular in the market thanks to the highly addictive ‘sweet-salty’
flavor and crispy texture.
22 23Confectionery Business : KoreaORION 2020
Dr. You Energy Bar
Sustainable Energy!
Dr. You 99 Light Bar
Nutrition Plan to Relieve the Calories Burden
Market O Real Brownie
Dr. You energy Bar is Korea’s representative nutrition bar designed
to sustain energy for a long time as an energy bar. It is loved by
people of all ages, and it contains 35% nuts and fruits.
‘99 Light Bar,’ which customers can enjoy anytime, anywhere, is a
serial bar having only 99 calories, and is especially popular among
calorie-conscious consumers. It is Korea’s representative low-
calorie nutrition bar with three berry flavors (cranberry, strawberry,
and blueberry) and honey, fresh and sweet taste and nutrition with
superfood oats.
Market O Real Brownie, a premium brand, is made from chocolate
and antibiotic-free eggs and butter: Original, Matcha, and Orange
Chocola. In August 2019, Orion increased the quantity of the
products by 25% from 96g to 120g, and from 192g to 240g,
respectively, without changing prices. In addition, we continue to
make efforts to increase customer satisfaction by providing the
best quality at reasonable prices, such as improving the chewy
texture of the homemade-style brownies.
Market O Real Chocolate
Market O Real Chocolate uses 100% cacao butter to deliver a truly
chocolaty taste that melts in your mouth. Market O Real Chocolate
Original contains up to 45% cacao, while Market O Real Chocolate
Milk combines a rich milky flavor with that of creamy chocolate.
Market O Real Cheese Chip
Market O Real Cheese Chip is oven-baked, premium-level potato
chips topped with real cheddar and camembert cheeses. Their
rich, cheesy taste supplied by the real cheese has made them a
winner with customers everywhere.
Dr. You Protein Bar
Let’s Enjoy Protein Before and after Exercise
‘Protein Bar’ is a high-protein nutritional bar that can replenish 12
grams of protein corresponding to two eggs, in a blend of 48% rich
nuts, super food lentils and chocolate. Protein bars exceeded 10
million cumulative sales in 10 months with the booming ‘dumbbell
economy,’ which is fueling healthcare-related consumption. Orion
expands its brand lineup by launching the ‘Protein Bar Mini’, which
allows customers to control their protein intake as much as they
want while working out at home or in a fitness center.
Dr. You Bar Market OKOREa’SNO. 1 NutRItIONaL BaRBRaND
FEatuRING
aLL-NatuRaL
INGREDIENtS
24 25
Orion took its first step into the China market by opening an office in
Beijing in 1993, when products of the confectionery industry were not
much in demand. Starting in the city of Langfang in 1997, the company
also built manufacturing facilities in Shanghai, Guangzhou, and
Shenyang. Sales in China passed the uSD 913.2 million mark in 2013, and
its market position there continues to rise.
China
ORION 2020ORION 2020 Confectionery Business : China
2019 Sales in China
ORION Food Co., Ltd.Number 11 Quanxing Road, Langfang economic &
Technical Development Zone, Hebei 065001, China
T. 86-316-607-7888 F. 86-316-608-8964
ORION Food (Shanghai) Co., Ltd.Number 5151 Waiqingsong Road, Qingpu Industrial
Zone, Shanghai 201700, China
T. 86-21-6921-1888 F. 86-21-6921-1889
ORION Food (Guangzhou) Co., Ltd.No.15 Xiandai Avenue, Huadu District, Guangzhou
510890, China
T. 86-20-8675-7777 F. 86-20-8675-7775
ORION Food (Shenyang) Co., Ltd.Number 15 Xiahuahu Road, Shenbei New District,
Shenyang 110127, China
T. 86-24-3162-1000 F. 86-24-3162-1001
ORION in China
Orion maintains its success in the Chinese
market through two crucial strategies:
elaborate marketing tactics, and regional
and city localizations, with a special focus
on quality. 835.9
ORION Food Co., Ltd.
ORION Food (Shenyang) Co., Ltd.
ORION Food (Shanghai) Co., Ltd.
ORION Food (Guangzhou) Co., Ltd.
uSDmillion
Turning Crisis into Opportunity
In 2017, in order to transform the
crisis caused by the Terminal High
Altitude Area Defense (THAAD)
issue between China and South
Korea into an opportunity for growth,
Orion’s Chinese subsidiary enhanced
the freshness of its products by
lowering the number of days its
products are turned over in stores
and with vendors, and concentrated
its capabilities on improving work
efficiency and structure through
sound sales organization and a
new logistics sector. The Chinese
subsidiary has continued to launch
new products including Rangrigo
Rang (Kkobuk chip), Cutie Pie Red
Velvet, Guo Zi Guo Zi (My Gummy) to
improve growth and profitability.
Orion ranked first in the Pie category
for the sixth straight year in the 2020
China Net Promoter Score (C-NPS)
survey by Chnbrand, which evaluates
both domestic and international
brands in China. C-NPS Index is a
system that measures the customers'
recommendation level for brands sold
in China. Higher C-NPS index means
higher possibility of repurchasing and
popularity in the market and it is used
as a measure of growth potential.
This resulted from our decision to
introduce a number of new products,
such as “Hao Li You Pai,” “Hao Li
You Pai Matcha,” and “Cutie Pie Red
Velvet,” all of which proved to be very
appealing to Chinese consumers.
Developing New products to
Meet the Changing Needs of
Chinese Consumers
Orion has been increasing its presence
in the Chinese traditional trade (TT)
market since 2015. Since traditional
channels in China account for about
half of all sales, there is still significant
growth potential remaining for the
company and its products.
Orion has recently begun to advance
into China’s northeastern provinces,
and it is targeting the distribution
networks across the country. Orion
plans to raise the share of its products in
the markets of Shanghai, Guangdong,
and Chongqing, where its competitors
have maintained a great influence.
In 2020, Orion will continue its success
by deve loping and introducing
additional products that match the
tastes of Chinese consumers.
26 27ORION 2020ORION 2020 Confectionery Business : China
Shu YuanThe Ultimate in Baked Potato Chips
Shu Yuan is a new-concept potato chip. Because it is baked rather
than fried, it is not as greasy or fattening as regular potato chips.
Having two meanings of ‘Tell me your wish,’ and ‘Wish of potato’.
Shu Yuan has quickly become a hit with young Chinese consumers.
In 2019, Orion introduced the ‘cucumber flavor’, recognizing the
fact that young Chinese people prefer the freshness of potatoes
and fresh taste that is not spicy.
Hao You Qu
Delicious Wave-Shaped Chips
Hao You Qu means “Good Friend Chip” in Chinese. Cut into
ridges and then marinated, the product has a crispy texture with a
tantalizing mixture of natural flavors and spices. It comes in various
savory flavors: kimchi, steak, and roast chicken. In 2019, two flat-cut
shaped products were added to offer more choice to customers.
Ya! tudouAmazing Pure Potatoes
Ya! Tudou is steadily gaining popularity thanks to its super crispy
texture, catchy brand name and great taste. First launched in
2006, it has become a representative Chinese potato snack
showing continued growth. It comes in three flavors: tomato,
steak, and chicken and in 2019, Orion released two new flavors of
‘Ya! Tudou Tsui Tsing’. A sweet sugar coating is added to the star-
shaped potato sticks to enhance the fun and crispy texture. It
provided consumers with new experiences with the unique flavors
of Chinese Ma La Xiao Long Xia and cheese bacon.
Hao Li You Pai
A Link That Holds Between People
Hao Li You Pai, which introduced the new category of ‘Pie’ to
the confectionery markets in China, is one of Orion’s bestsellers
in China. The name, which means “A Good Friend” in Chinese,
appeals to consumers in the pie market because of its connection
with the Confucian ideal of caring for other people. In China,
instead of ‘affection (情)’, which is a conventional product concept
of Choco Pie, Orion emphasizes ‘Caring for the people (仁)’
considering Chinese consumers’ connection with the Confucian
ideal, creating a consensus of Chinese consumers and becoming
an unrivalled brand in the pie markets. In addition to the original
Choco Pie, Orion has released Matcha and strawberry-flavored
pies to offer customers more choices.
Q Di
A Multilayered Chocolate Cake
The name Q DI, released in 2004, comes from the english word,
“cute.” It is a premium level, multilayered cake that’s especially
popular with women because of its soft texture, its chocolaty
fragrance, and its sweet, mocha and hazelnut cream taste. ‘Cutie
Pie Red Velvet’, launched in 2018, is also gaining popularity among
consumers thanks to its combination of flavors of fresh strawberry
cream and sweet chocolate.
Hao Duo YuA Fun-Filled Tasty Snack
Hao Duo Yu potato crackers are a favorite with Chinese people
because of their fish-like shape and crispy texture. The name,
which means “a lot of fish” in Chinese, when coupled with the
advertising slogan, “Having a Hao Duo Yu helps you keep your
chin up,” has made the product a hit with both children and their
mothers.
In 2019, Orion launched a new product, “Hao Duo Yu Jungle
Boy’, which uses children’s favorite dinosaur characters. We also
introduced dinosaur egg yogurt balls, various dinosaur-shaped
snacks for children’s health.
Products in China
28 29ORION 2020ORION 2020 Confectionery Business : China
Mo Gu Li
Stirring Your Imagination
The name Mo Gu Li, which combines the Chinese words for
'mushrooms' and 'chocolate,' is a delicious, fun-filled combination
of mushroom-shaped biscuits topped with chocolate. Chinese
consumers have been mad about it since its launch in 2004. It is
loved by many children for various promotions and advertising
activities that raise their imagination with its motto, ‘Creativity.’
Mu tang Chun 3+
China’s Three-Times-a-Day Refreshment Break
Mu Tang Chun 3+ is made with sugar-free xylitol. A daily
refreshment gum that delivers a strong energy boost while you
chew, and it comes in a wide variety of fresh fruit flavors.
Guo Zi Guo Zi
Soft and Cute Fruit
Containing 50% fruit juice, Guo Zi Guo Zi has created a sensation
in the market within two years after launch. With the taste of
the rich fruit ingredients, the chewy texture and the cute shape
become a great hit among consumers. It is expected to grow as
a representative brand of fruit jelly in the growing Chinese jelly
market.
Hao Li You EXExciting Flavor
‘Hao Lo You EX’, released in 2019, means 'Exciting Flavor.' It offers
new pleasures to consumers with exciting flavors of strawberry ice
cream. It is a gum that has a new texture with its unique hexahedral
structure smoothly coated, and it is gaining growing popularity
with its cute and unique packaging. It is certain to become a brand
that will gain a greater market share in the Chinese gum market.
tao Kae NoiNo. 1 Seaweed Snack in Thailand
In 2019, Orion was granted exclusive sales rights by Tao Kae Noi, a
Thai company producing a popular seaweed flavored snack, and
entered the Chinese seaweed snack market showing an average
annual growth rate of 15%. Seaweed flavored snacks are especially
preferred by young people seeking well-being, and they are also
popular as a nutritious snack for children. Orion introduces a wide
range of seaweed snacks, focusing on the most popular Big Roll
and Crispy products, to the Chinese market through its distribution
network.
Rangrigo Rang
Four-Layered Crispy Snack
In the Chinese snack market, sales of non-potato snacks are
surpassing those of potato snacks, showing the market potential. In
this environment, Orion launched the corn snack ‘Rangrigo Rang’
in 2018, achieving great success. Rangrigo Rang is very popular
among consumers because of its differentiated crispy texture and
sweet corn taste with its unique form of four layers. It has become
one of the most promising brands with the newly launched ‘Ma La
Xiao Long Xia Rangrigo Rang,’ which is a popular taste in China
following the taste of conventional corn soup and barbecue in
2019.
30 31
Orion opened its first Vietnamese manufacturing facility in Ho Chi Minh City in 2006.
as second plant was soon built in Hanoi to cover Vietnam's norther reaches in 2009, which are a major
market for pies and biscuits, Orion could strengthen its presence in Vietnam. Since then, Orion has become
an integral part of the daily lives of the Vietnamese people by expanding its products to include snacks
and biscuits with Choco Pie, as the flagship products, and giving confidence in confectionery industry.
Vietnam
ORION 2020ORION 2020 Confectionery Business : Vietnam
216.42019 Sales in Vietnam
ORION Food Vina Co., Ltd.22 Floor, Pearl Plaza, 561A Dien Bien Phu St, Ward
25, Binh Thanh Dist, HCMC, Vietnam
T. 84-8-35-123-123 F. 84-8-35-123-414
My Phuoc FactoryHo Chi Minh Road, NA 3, My Phuoc Industrial Park 2,
Ben Cat District, Binh Duong Province, Vietnam
T. 84-650-553-700 F. 84-650-553-720
Yen Phong FactoryYen Phong Industrial Park, Yen Trung Town, Yen
Phong Dist, Bac Ninh Province
T. 84-0241-369-9000 F. 84-0241-369-9111
ORION in Vietnam
Orion is consolidating its position in
the Vietnam's confectionery industry
based on its flagship products including
Choco pie, Custas, O'Star and Toonies,
which are loved by the Vietnamese
people, and thanks to new products
contribution, including rice cracker ‘an’
and bread ‘C'est Bon.’
My phuoc Factory
ORION Food Vina Co., Ltd.
uSDmillion
Yen phong Factory
Sustaining Healthy Growth
of Core Brand through
Strengthened Brand power
Orion’s flagship brand, Choco Pie,
launched a new product with peach
flavor and engraved lettering on the
pie as a limited edition celebrating New
Year and offering ‘New Pleasure of
Choco Pie.’ This made Choco Pie grow
into a megabrand with annual sales of
more than USD 85.8 million. Custas, a
nutritional concept cake, introduced a
new cheese berry flavor strengthening
its unique position as a nutritional snack.
Goute, which is especially popular
among women in their 20s and 30s,
introduced the Goute Tin Case, a
unique classic concept, during the New
Year holiday season strengthening its
product competitiveness.
Raw potato snacks such as O’Star
and Swing also showed significant
growth year-on-year. Marine Boy,
a representative kids’ snack, offered
various shapes to provide fun experience.
A dinosaur-shaped Jungle Boy was also
released.
Strengthening New Market Entry
Launched in 2019, rice cracker ‘An’
and bread ‘C'est Bon’ are showing
greater performance than expected,
becoming exciting new growth engines.
In particular, despite a strong existing
competitor with more than 80% of
market share in the rice cracker market,
‘An’ achieved a 13% market share early
on, based on Orion’s unique brand
power and product quality. In 2020,
Orion will boost its efforts to expand its
market share by expanding the south
central market, launching new flavors,
and strengthening communication
with customers. In 2020, Orion plans to
strengthen its brand competitiveness
by adding new products such as rice
muffins.
32 33ORION 2020ORION 2020 Confectionery Business : Vietnam
Orion Choco Pie
A Long-Time Vietnamese Favorite
Choco Pie has captured a 67% share of the
pie market (as of 2019) solidifying its position
as the national Choco pie. Not only is it a
delicious snack, but it is also popular as a
small gift that expresses affection between
loved ones. Recently, Choco Pie Peach
Flavor, a limited product of peach blossom
symbolizing Vietnam’s biggest holiday, Tet
(New Year holiday), has been launched, and
is gaining huge popularity. In addition, Choco
Pie is expected to grow into a mega brand of
the Vietnamese subsidiary with more than
USD 85.8 million in annual sales for the first
time in Vietnam in 2020 based on strong
brand power and product quality.
O’StarVietnam’s No. 1 Potato Chips
With the changing lifestyles of young people
and the emergence of modern-style snacks,
potato snack is showing a high growth
rate in the market. In the raw potato snack
market, where supply and demand for raw
potatoes and quality control are the key
factors, O’Star is leading the market ahead
of its global competitors. In particular, O’Star
with kimchi flavor provides consumers with
a taste of Korea that its competitors cannot
mimic, and is becoming very popular among
Vietnamese consumers.
CustasThe Nutritious Pie That Tastes Like
Homemade
These Custas cream-filled soft custard
cakes have such a homemade taste, thus
capturing a growing market share. It is
now a common practice in Vietnamese
households for Mom to put Custas, into
a school bag for her children a popular
family treat made of good ingredients and
reflecting a mother's warm heart.
GouteFor Good Taste and Style
‘Goute’ was very well-received with the
delectably crunchy biscuits featuring a
superb combination of sweetness and
savory taste. In addition, the tin music box
case developed for New Year’s gifts offers
not only a trendy design but provides a
pleasure to listen to, raising the value of the
gift for a special day.
Jungle BoyLost Dinosaur World
Marine Boy
Tasty and exciting
tayo!
Unique Potato Snack,
Full of ‘World-First’ RecordsOrion has added 17 new cookie shapes of
dinosaurs, children’s most popular animals.
Orion is expanding its brand lineup by
applying a differentiated brand concept
of ‘Snack with Imaginative Story’ to its
products.
D iverse f ish shapes , depict ing a
confrontation story between the whale
corps and shark corps, as well as being
fun to eat with a fun to imagine story
are drawing a massive response from
consumers. In particular, features of
baked snack rather than fried snack give
customers more confidence in it as a
healthy snack.
“Tayo!” is a Vietnamese version of O!Gamja.
‘Tayo X-Crunch,’ with the first Vietnamese
syrup coating technology applied, is a
great-tasting snack filled with sweet flavor
and crispy texture. In particular, ‘Cool
Coloring’, which was released during
the Halloween Day season, created a
huge sensation in the market with a
differentiated design.
anWell-Baked Rice Cracker
Vietnam, famous for its rice noodles, is
the world’s fifth-largest rice-producing
country where rice is grown all year round.
Using rice of excellent quality, Orion
launched a rice cracker with the concept
of “Well-baked with carefully chosen
fresh rice,” receiving great responses from
customers. In particular, rice is a familiar
and reliable material that is part of the
genes of the Vietnamese people. Orion
emphasizes the brand value of ‘safety’ by
using ‘An’ as the brand name.
C'est Bonenjoy It for Breakfast
C'est Bon was launched in 2019 aiming
at the breakfast replacement market in
response to changing consumer lifestyles.
C'est Bon means ‘It’s good/ delicious’
in French, emphasizing the distinctive
features of its bakery style. Unlike ordinary
sweet cakes, it offers the flavor of chicken.
It is solidifying its position as replacement
for breakfast with its chewy texture of
meat and salty taste that anyone of all ages
can enjoy.
Corn Chip
Relish in Comfort
‘Cornchip’ is a corn snack that all
generations can enjoy, from children to
adults, with seasoning flavors loved by
Vietnam consumers for its taste. Sweet
caramel cornchip with sweet caramel
flavor is unrivalled.
toonies
enjoy Taste and a Toy
Toonies, which were launched in Vietnam
in 2007, enjoy the country’s highest sales
in the single snack market. Packaged with
the country’s first-ever free in-pack toy,
they have quickly become a hit among
Vietnamese children, many of whom have
few things to play with. Recently, Orion
has collaborated with famous animations,
making Toonies a 'must have' item for
children and creating a play trend for
children.
Swing
Dynamic Young Potato Chips
‘Swing’ is a dynamic potato chip especially
aimed at Vietnamese teenagers. They love
its rich, crispy flavor, its thick slices, and
its wide variety of tastes. ‘Swing MAXX,’
which maximizes various flavors and
crispy texture, is one of the most preferred
potato snacks popular among teenagers in
Vietnam.
Products in Vietnam
34 35ORION 2020ORION 2020 Confectionery Business : Russia
66.32019 Sales in Russia
Choco pie, Becoming Favorite
Russian Treat
Enhancing competitiveness by
diversifying products
As one of Russia’s leading brands,
‘Choco Pie’ seeks to make a big leap to
become one of the Top-5 brands in the
overall confectionery market beyond
the biscuit and pie market. In order
to meet the ever-growing demand,
Orion expanded production facilities
that have annual production capacity
ORION International Euro Co., Ltd.108811, Russia, Moscow, Moskovsky settl.
Kievskoe highway, 22 km, area 6, str. 1
3rd floor, 2nd bld, office 18
T. 7-495-987-1485 F. 7-495-987-1480
tver Factory15 Nab. Lazuri 170028, Tver, Russia
T. 7-482-249-4828 F. 7-482-249-4831
Novosibirsk Factory630088 St. Severny Poezd 35 (Kiro vsky
Rayon), Novosibirsk, Russia
T. 7-383-344-7055 F. 7-383-344-0291
ORION in Russia
of more than 700 million Choco pies
in Novosibirsk in 2017, and the new
production factory will be completed
in Tver by 2022. The Tver factory will
have a total of seven lines, including pie
and biscuit lines, which are more than
six-times larger than existing ones. The
annual maximum production capacity
is more than USD 171.6 million, with
more than 1 billion Choco Pies. The new
factory will be used as the cornerstone
for expanding the market to eastern
europe and eU countries as well as the
outpost for Russia which has a USD 8.6
billion confectionery market. Following
its advancement into the China and
Vietnam markets, Orion plans to make
a second leap forward as a global
company by penetrating the Russian
and eastern european markets to a full
scale.
Orion plans to solidify Choco Pie’s
leading position in the Russian pie
market in 2020, while continuing
to grow by diversifying products
including biscuits and snacks.
Novosibirsk FactoryTver Factory
ORION International Euro Co., Ltd.
uSDmillion
Orion entered the Russian market in 2003
and now operates production bases in two
cities: tver, near the capital city Moscow, and
Novosibirsk, the 3rd-largest city in Russia. Its
products are steadily gaining popularity in the
country through an unbeatable combination
of good taste and high nutritional value. the
company’s R&D efforts and commitment to local
production have made the products that reflect a
deep understanding of the Russian people’s food
preferences.
Russia
Orion continues its sustained growth in
the Russian market through its reasonable
prices and high-quality products.
36 37ORION 2020ORION 2020 Confectionery Business : Russia
Orion Choco Pie A Russian Favorite for Twenty-Five Years
Orion Choco Pie has been a favorite with Russian consumers
for more than 25 years since its launch in 1993. Choco Pie fits
well with the Russian people who like to eat it with tea, and
it has particularly been enjoyed by Russian people thanks to
continuing localization strategies and quality improvement.
As a result, Choco Pie has fast become an integral part of the
local population’s daily lives. Orion initiated a phased quality
improvement program for all its products in 2009. In the case
of Choco Pie, neither preservatives, nor synthetic coloring, and
MSG are used any more, while enhancing its quality so that long-
term storage is now possible without the need for preservatives.
In Russia, we added minerals including vitamin B2/B6/e,
calcium, iron and iodine, etc., into the products in an effort
to improve quality. In 2010, Orion became the first company
in Russia to carry out a voluntary inspection of its products
regarding the presence of GMOs, declaring that no artificial
additives were added to them. A year later, Orion adjusted the
nutritional balance of its products to make them more suitable
for breakfast. The company also obtained a zero trans-fat
certification in 2012 and a Food Safety System Certification in
2014 from the Global Food Safety Initiative.
Choco Pie Dark and Choco Chip Choco Pie were newly
launched in 2018, and raspberry and cherry choco flavors in
2019 and Choco Pie Black currently in 2020, expanding the
consumers’ choice. We will continue to strengthen our position
as a representative brand leading the market based on the
consumers’ trust in quality.
Choco BoyInspiring People’s Imaginations
Although Choco Boy’s crispy-tasting, mushroom-shaped
biscuits are topped with chocolate, they are just as healthful as
they are tasty.
There are three kinds of Choco Boys: Choco Boy Original (Milk
Chocolate), Choco Boy Caramel released in the second half of
2018, and Choco Boy Safari with sweet chocolate inside cookies.
They are popular among children due to their delicious taste
and various characters.
GouteThin Cookie Cracker with Reduced Calories
‘Goute’ is a thin cookie-shaped cracker that has a unique sweet
and salty taste, almost melting in the mouth. Since its launch, it has
been especially popular among young female working in the office
due to it's reasonable price range.
tender and Soft (мягкое печенье) ChoCo Chip CookieFilled with Real Chocolate Chunk
Since 2019, Orion has produced and sold tender and soft (мягкое печенье) choco chip cookie, a well-made cookie for tea,
considering Russian culture to enjoy tea time with family or friends.
In cooperation with Belgium’s famous Cargill Chocolate, we
succeeded in developing a 100% real chocolate chunk appealing to
Russian consumers. A sub-brand with high-quality Dutch orange
peel was also launched together with it.
Products in Russia
38 39ORION 2020ORION 2020 New Business
Orion acquired Jeju Lava Water, an
indigenous company in Jeju, in 2016
and declared a second leap forward
as a global total food company. In
August 2019, Orion established a
production plant with a building
area of 14,985㎡ (equivalent to 4,533
pyeong) on the 30,000㎡ (equivalent
to 9,075 pyeong)site located in the
Lava Seawater Industrial Complex at
Gujwa-eup, Jeju City, and launched
‘Orion Jeju Yongamsoo (Orion Jeju
Volcanic Mineral Water)’ in December
of that year. In the first half of this year,
we plan to enter global markets such
as China and Vietnam to compete with
other global players.
‘Orion Jeju Yongamsoo’ contains
62mg/L of calcium to assist bone
health, as well as 22mg/L of potassium
to promote the balance between
water and electrolytes inside the body
by discharging sodium, and 9mg/
L of magnesium to help maintain
functions of nerve and muscle. It is
slightly alkalized with pH 8.1 to 8.9
for consumers who are suffering
from acidification due to increasingly
Westernized eating habits.
The company has operated in state-
of-the-art facilities and introduced
new technologies from Germany and
Switzerland, while engaging in the
efforts to enhance product brand
utilizing leading researchers in the
field of mineral blending and flavoring
water, including Dr. Ukon of Japan,
who is the expert in mineral extraction
technology sector, and Professor Jae-
Yoon Koh, the nation’s representative
water sommelier. The design was
created by KAIST Professor Sang-min
Bae, who has won all of the world’s
top four design awards over his career.
Professor Bae created the simple yet
sensual design with motifs of Jeju
Island’s nature such as columnar joint
and sea horizon. In February 2020,
it received favorable feedback from
around the world for its beautiful
design, winning the ‘2020 German
iF Design Award, the world’s most
prestigious award in the package
design category.
Or ion takes the l ead in loc a l
economic development activities for
economic development of Jeju and
preservation of clean nature. Twenty
percent of Orion Jeju Yongamsoo’s
total sales will be used for balanced
development of Jeju Island, welfare
for the elderly, and residents in
Gujwa-eup, where the lava seawater
industrial complex is located. We also
built the Orion Jeju Yongamsoo PR
Center with the highest level in order
to provide another tourist resource for
domestic and foreign tourists visiting
Jeju Island, including those from China.
Orion Jeju Yongamsoo can be ordered
through home del ivery service .
You can easily order 2L, 530mL,
330mL products through Google
Play Store, the Apple App Store,
etc., by downloading the ‘Orion Jeju
Yongamsoo’ application, or on website
or phone (1833-4342).
Jeju Yongamsoo
N e w B u s i n e s s e s
40 41
Soon after launching its convenient
meal replacement (CMR) business,
Orion established Orion Nyonghyup,
a joint venture with the National
Agricultural Cooperation Federation
(NACF) in September 2016. The goal
was to provide consumers with access
to healthy and delicious foods that can
be enjoyed conveniently. Orion’s CMR
business is carried out by the NACF,
which provides domestic agricultural
products. Orion NACF is in charge of
production and sales. The operation
included building a 9,900m2 plant in the
Jedae Agricultural Industrial Complex
in M ir yang , Gyeongsangnamdo
Province. We launched the convenience
meal replacement brand ‘Market O
NATURe’ in 2018. O!Granola, and
O!Granola Bar made from rice, apple,
black beans and other locally grown
raw materials reached sales of USD
11.2 million in 2019 establishing itself
successfully in the market. in 2019
establishing itself successfully in
the market. In 2019, we expanded
the granola product lineup with
kids’ favorite cacao and strawberry
flavors in ball-shape which has
greater nutrition such as lactic acid
bacteria and calcium.
Orion will expand and strengthen
New BusinessORION 2020
1
2
1 View of Miryang Plant producing Market O NATURe Brands
2 Products under Market O NATURe Brand
its brand portfolio in CMR business by
launching a variety of new products
that wil l strengthen the granola
category through continuous research
and development. In addition, Orion
will also assist in increasing exports
of South Korean farm products by
advancing into overseas markets such
as China, Vietnam, and Russia. Demand
in China is expected to be especially
substantial, due to the high level of
trust that the Chinese consumers have
in food produced in South Korea. They
are increasingly interested in health
foods as well.
Market O NatuRE
N e w B u s i n e s s e s
42 43
1
Orion leads the rapidly growing
domestic dessert market, targeting the
premium dessert market, and seeing it
as a sector that dovetails well with our
over 60-year history of confectionery
manufacturing. Orion opened ‘Choco
Pie House,’ a dessert shop selling
‘Dessert Choco Pie’ and ‘Choco Pie
House Fresh Chocolate,’ which are
premium versions of the ‘Choco Pie,’ in
December 2017, at major department
stores and KTX stations. Dessert Choco
Pie is made of handpicked premium
ingredients based on a secret recipe
developed after long-time research and
development activities, and it features
‘Snow marshmallow’ which melts softly
with natural vanilla bean and French
Grand Marnier. In addition, with eco-
friendly packaging and simple but
sophisticated package design, it is very
popular for desserts and gifts. Orion
launches new products utilizing Korea's
representative health foods, red ginseng
and Jeju Island’s specialty Hallabong
(orange), making dessert Choco Pie as a
‘Must-try’ food for people visiting Korea.
ORION 2020
1 Dessert Choco Pie Jeju Hallabong2 Dessert Choco Pie brands at Choco Pie
House
New Business
2
Desserts
New Businesses
The Orion Group declared its goal to become a ‘Global Total Food Player’
in 2017 and is making efforts to become a global total foods player, beyond
just being a confectionery company, by promoting various new businesses
such as ‘Premium mineral water,’ ‘convenience meal replacement (CMR),’ and
‘dessert.’ Orion is committed to growing further by competing with world-
class food companies based on its manufacturing expertise accumulated
over the past 60 years in the confectionery business and forming a solid
global network of overseas subsidiaries in China, Vietnam, and Russia, etc.
Overview of New Business
advancing as a Global Full-Service Food Company
2016.06. established the Orion National Agricultural Cooperation Federation
2016.12. Commenced construction work to build Miryang Factory of the Orion National Agricultural Cooperation Federation
2018.07. • Completed construction of Miryang Factory of the Orion National Agricultural Cooperation Federation
•Launched ‘Market O NATURe’ • Launched ‘O!Granola’, and ‘O!Granola Bar’
2018.12. Cumulative sales of ‘O!Granola’, and ‘O!Granola Bar’ exceeded USD 9.1 million
2019.01. Increased weight of ‘O!Granola’ by 10% without price change
2020. 01. Increased weight of ‘O!Granola Bar’ by 16.7% without price change
Market O NaTuRE
CMR
2017.12. •Launched ‘Choco Pie House’
• Launched Dessert Choco
Pie ‘Original’, ‘Caramel Salt’,
‘Cacao’, and ‘Red Velvet’
2018.04. established new production
line of Dessert Choco Pie at
Iksan
2018.05. expanded the shops to
Busan, Daegu and Gwangju
2019.03. Cumulative sales volume of
Dessert Choco Pie exceeded
2 million
2020. 01. • Launched Dessert Choco
Pie Red Ginseng, Dessert
Choco Pie Jeju Hallabong
• Commenced the sales
of Dessert Choco Pie at
Convenience Store
Choco pie House
Desserts
2016.11. Acquired ‘Jeju Lava Water’
2017.12. Commenced construction
work to build production
facility, announced global
beverage business plan and
5 major plans for win-win
growth in Jeju Island
2019.08. Started construction of
Orion Jeju Yongamsoo
Plant
2019. 12. Launched ‘Orion Jeju
Yongamsoo’
2020.02. Won the ‘2020 German iF
Design Award’ in package
design sector
Jeju Yongamsoo
premium Mineral Water
44 45ORION 2020ORION 2020 Export Status
Canada
U.S.A
United Kingdom
Turkmenistan
Iran
Jordan Kuwait
Bahrain
Qatar
UAe
Oman
Sri Lanka
Malaysia
Guam
Philippines
Japan
South Korean Headquarters
Vietnam
China
Russia
Singapore
Indonesia
Australia
New Zealand
Saudi Arabia
Nepal
Thailand
ethiopiaSomalia
Kazakhstan
Uzbekistan
Kyrgyzstan
Mongolia
Tajikistan
Bangladesh
Myanmar
Turkey
Israel
Germany
France
Guatemala
Costa Rica
Brazil
Argentina
Dominican Republic
Orion exports its products to over 60 countries, including those of the
Middle East and the americas, plus Japan. The company enhances its
brand competitiveness by focusing on quality, innovation, and product
diversification, including “star” products like Kkobuk Chip, Marine Boy,
O!Gamja, Goute Biscuits and ‘Orion Jeju Yongamsoo’.
Global Sales Network
South Korean Headquarters
Overseas production subsidiaries
Countries to which South Korea exports
Countries to which China exports
Countries to which Vietnam exports
Countries to which Russia exports
Mali
Belarus
Latvia
Ukraine
Moldova
AbkhaziaGeorgia
Azerbaijan
Armenia
46 47ORION 2020 Showbox, Orion Basketball Team
•Orion’s Vision and Goals
Vision
Team prioritizing 3F (FAN, FUN, FIGHTING)
Goal
- establishing a base for the prestigious clubs
that satisfies the expectation of the fans
- A team that creates a variety of new
pleasures through basketball
•Major business
Operating Orion’s professional basketball
team in Goyang city
• Address
Goyang Gym, 1601, Jungang-ro,
Ilsanseo-gu, Goyang, Gyeonggi-do,
South Korea
• Tel
82-31-913-0898
Showbox invested in and distributed five South Korean films including
<Money> and <The Battle> and one foreign film in 2019 focused on
maintaining a solid lineup. With <Money>, which made a box office
success during the off-season, featuring a story about money that
everyone desires to have, and <The Battle>, a story about the first
victory of the independence coalition troops in the Bongo-dong, which
has succeeded at box office thanks to its inspiring and touching story,
Showbox has achieved remarkable performance, recording surpluses
for eight consecutive years.
In 2020, Showbox will release a variety of films, which have cinematic
quality with unique storylines, starting with <Chief of Namsan>, a
story about 40 days before the President assassination happened on
October 26, 1979, and <Sinkhole>, a film about the escape of the people
suffered from the ‘Sinkhole disaster’. In addition, Showbox produces the
first drama <Itaewon Class>, which is based on popular web comic as
result of the efforts to plan and develop the sourcing contents in order
to secure a new competitive edge in the fierce content market.
Selected 2020 Line-up
• SHOWBOX Inc.
• Major Interests
Film Distribution, Film Investment/Production,
Foreign Film Import, Overseas Theater
Operations, Online Business, Global Contents
Business, and Drama Production Business, etc.
• Address
310 Dosan-daero, Gangnam-gu, Seoul,
South Korea
• Tel
82-2-3218-5500Orion Basketball team
Chiefs of Namsan
The film is based on the book of the same name,
which was published in the Dong-A Ilbo. On
October 26, 1979, Kim Kyu-Pyung (Lee Byung-
heon), the chief of the South Korea’s Central
Intelligence Agency, assassinated the President
of the Republic of Korea. Forty days before the
incident, former central intelligence chief Park
Yong Gak (Gwak Do Won) raised a diplomatic stir
by denouncing the reality of the Korean regime
by attending a U.S. hearing as witness. Kim Kyu-
Pyung, the chief of KCIA, and Kwak Sang-Cheon
(Lee Hee-jun), the presidential security chief, are
trying to stop Park Yong Gak, and pro and anti-
president forces begin power battle around the
president. It is a well-made film with a detailed
psychological description of the characters and a
solid storyline that satisfies the audiences.
Sinkhole
This is a real disaster comedy film about a family
whose house falls into a sinkhole within just 11
minutes after purchasing the house. It portrays
a hair-trigger crisis among various characters
(Cha Seung-Won, Kim Sung-Kyun, Lee Gwang-
Soo, etc.) that struggle hard every moment, but
suddenly get stuck in the sinkhole. Unexpected
real-life disasters and relationships between the
characters inside and outside the sinkhole make
us look appreciate the values of the things we
have forgotten.
Itaewon Class (Drama)
This is a drama, based on the web comic of
the same name, about the “heap” rebellion of
young people who live with persistency and
courage in an unreasonable world. In the small
street of Itaewon, which seems to be like a
small world, young people who pursue their
freedom with their own values begin their start-
ups showing dynamic power. Park Saeroi (Park
Seo-Joon), who tries to dominate the Itaewon
with strong belief and confidence, strike back to
Jang Dae-Hee (Yoo Jae-Myung), the chairman
of ‘Jang Family’, the major market play in the
food industry, giving thrilling funding and
impressions.
Founded on March 27, 1995, the Goyang
Orions is a professional men’s basketball
team. In its second year, the team won the
championship at the South Korean Baseball
League and a semifinals victory at the 77th
National Sports Competition. In 1997, it
advanced into the quarter final playoffs for 2
consecutive seasons.
During the 2001-2002 seasons, the Orions
achieved an integrated championship by
winning their first regular league and finishing
first in the playoffs with the catchphrase
‘Never Give Up, and Dreams can Come True.”
Success continued with its second straight
regular league win and second-place finished
in the playoffs in the following season. The
Orions also recorded the KBL’s first advance
to the playoffs for six consecutive years.
The Orions has celebrated many professional
basketbal l milestones . They include
advancing to the playoffs for five years in
a row, having the league’s longest winning
streak, winning 100 games since moving to
Goyang in June 2011, a second place finish in
the KBL D League, and winning the Pro-Ama
Championship.
In 2015-2016, they won the championship
again, recruiting new players including Lee
Seung-hyun, Heo Il-young and Choi Jin-
soo to establish a top-tier forward line and
showcasing a fiercely attacking style of play.
They won second place in regular league
play in 2016-2017 showing the power of the
prestigious team representing KBL.
During the league play in 2018-2019, Lee
Seung-hyun returned to the team after being
discharged from military service serving
the team to advance into the play-off. Orion
has hosted diverse events for its fans and
contributed to the development of basketball
by promoting sports for all including the youth.
The Orions basketball team will continue to do
its best this year to showcase a more offensive
and fun basketball for its fans.
Showbox Inc.
48ORION 2020
2017 2018 2019
Income Statement
Net Sales 1,544.7 1,751.2 1,735.8
Gross Margin 660.8 797.1 783.4
Operating Income 141 256.5 281
Other income -1.9 5.6 -14.9
Net financial income -5.8 -11 -1.8
Gain on equity method valuation -0.4 -0.9 0
Net Income before Income Tax expenses 132.8 250.1 264.3
Net Income 100.6 130 189.1
Financial Status
Total Assets 2,107.5 2,103 2,118.1
Current Assets 427 509.1 515
Non-current Assets 1,680.6 1,593.9 1,603
Total Liabilities 852.2 811 677.8
Capital Stock 18.4 17.7 17.1
Capital Surplus 1,165.7 1,111.4 1,159
Retained earnings 71.1 162.9 264.1
Total Shareholders’ equity 1,255.3 1,292 1,440.3
Key Financial Ratios (%)
Liquidity Ratio 87.5 113.8 128.4
Debt Ratio 67.9 62.8 47.1
ROA 4.8 6.2 9
ROe 8 10.2 13.8
*Based on consolidated financial statement of Orion Corporation
(Unit: USD million)
Net Sales by Country
ORION Corporation l 13, Baekbeom-ro 90da-gil, Yongsan-gu, Seoul, South Korea
T. 82-2-710-6000 F. 82-2-718-4825
Financial Highlights
(Unit: USD million)
Korea China Vietnam Russia
702.8
2017
848
2018
195
2017
212.6
2018
68.4
2017
216.4
2019
835.9
2019
66.3
2019
59
20182019
628.7647
2018
600
2017
