Choco Pie's global success explained in 2 minutes
Choco Pie, a round cake-like snack with a marshmallow filling and chocolate coating, is the brainchild of South Korean confectionery maker Orion.
Branded with the Chinese character for "jeong" — a deep sense of affection and hospitality — the proiduct carries a distinct Korean essence that embodies the core value of sharing love.
Now, far beyond its homeland, the treat has won over more non-Koreans, selling more overseas than in the birthplace of jeong.
1956: Lee Yang-gu founded Orion, originally named Dongyang Confectionery, after acquiring the Japanese-owned PungGuk Confectionery.
1957: Orion introduced Korea's first modern candy manufacturing facility, launching gum, candy, and biscuit products in the post-war era.
1974: Choco Pie debuted in blue packaging, achieving 1 billion won ($692,000) in first-year sales.
1989: The product was rebranded from Choco Pie to Choco Pie Jeong, with the addition of the Chinese character for "jeong" on the packaging.
1996: Choco Pie became the first single snack product in Korea to exceed 5 billion won in monthly sales.
2023: Choco Pie topped the list of chocolate cake products in the domestic retail market with 8.7 billion won in sales, followed by Haitai's Oh Yes and Lotte's Mongshell cake, according to data from the Korea Agro-Fisheries & Food Trade Corp.
Russia was the first country to import Choco Pie in 1993, and accounted for around 40 percent of the snack's global sales last year. The first overseas plant was established in China in 1997.
Since then, Orion has actively targeted global markets, building factories in Vietnam, Russia and India. Since 2007, Choco Pie's overseas revenue has outpaced domestic sales.
Today, Choco Pie is sold in over 60 countries, in 24 different variations.
Last year, marking the snack's 50th anniversary, Orion sold over 4 billion units of Choco Pie, combining both domestic and international sales. This accounts for 8 percent of the snack's total sales over five decades, which have reached around 50 billion units.
Since its launch, Choco Pie has generated cumulative revenue exceeding 8.1 trillion won, with approximately 67 percent, or 5.5 trillion won, stemming from overseas markets.
Orion achieved record-high sales in 2024, reporting 3.1 trillion won in annual revenue and 543.6 billion won in operating profit, driven by the success of Choco Pie and other flagship products.
Both sales and operating profits saw on-year increases of 6.6 percent and 10.4 percent, respectively.
Orion aims to maintain its international success with Choco Pie leading its portfolio, backed by subsidiaries in China, Vietnam, Russia and India.
While introducing Choco Pie variations tailored to regional preferences abroad, Orion plans to expand its production and logistics facilities this year in Korea, Vietnam and Russia -- with a particular emphasis on boosting Choco Pie production capacity in Russia.
minmin@heraldcorp.com
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