Orion Confectionery sees sales in China decline amid THAAD row
James Han, April 13, 2017, 10:03 a.m.
Confectioner Orion has reduced its production line in China amid the country's suspected wrath at Seoul's decision to let the U.S. station a Terminal High-Altitude Area Defense battery here. Orion said Wednesday that it started to adjust production levels at its six plants in China, including ones in Beijing, Guangzhou, Shanghai and Shenyang, from early last month. It is seeing sales of the best-selling Choco Pie and other snacks decreasing, resulting in the stock piling up.
"We are not halting the production altogether. We are just operating production lines flexibly," a company staffer said.
Orion was not badly hit in the early stage of controversy over THAAD, but the continued spat is causing a Chinese boycott for increasing Korean products, leading to business losses.