Moscow: Orion Corp., a South Korean food and health care company, announced plans to invest 240 billion won (US$167 million) to expand its production facilities in Russia by 2027. This strategic move aims to satisfy the increasing local demand for Korean foods, commonly referred to as K-foods.

According to Yonhap News Agency, Orion currently operates two plants in Russia, located in Tver and Novosibirsk. The company intends to focus its expansion efforts on the Tver facility, as confirmed by a company spokesperson. This expansion aligns with Orion's strategy to capitalize on the rising popularity of K-foods in the Russian market.

Last month, Orion began distributing its Cham Bungeo Ppang pie, branded as the Bungo pie in Russia, to approximately 20,000 retail outlets. These outlets include major chains such as Tander Hyper, a discount chain, and supermarket operator Magnit, as reported in a company press release.

Orion's presence in Russia dates back to 2003 with the establishment of a subsidiary. The company achieved a significant milestone in 2021, with cumulative local sales surpassing 1 trillion won. This year, Orion anticipates cumulative sales to exceed 2 trillion won, driven by the robust demand for its product offerings.

Globally, Orion operates seven plants in South Korea and maintains a strong international presence with 11 facilities overseas. These include six plants in China, two in Vietnam, two in Russia, and one in India.