CJ Group Chairman Lee Jay-hyun.

CJ Group Chairman Sohn Kyung-shik has disclosed the 2016 management policies, which he says are designed to expand the group’s business portfolio abroad. 

Chairman Sohn made the remarks at a meeting with reporters on the sidelines of the 2016 New Year’s gathering of people from economics circles at COEX in Seoul on Jan. 6. “We plan to implement more projects in foreign countries this year,” he said. “We will do business in any country where we can earn money,” he added. 

Chairman Sohn would not detail any plans on M&As in foreign countries. He did not rule out the possibility of M&As, saying only that CJ did it in China last time. CJ acquired Rokin, a Chinese logistics company, in 2015. Asked about CJ’s possible acquisition of Coway, he said CJ was watching the situation closely.

Regarding the current status of Korea’s exporting industry, Chairman Sohn said Korea has put up a good defense, and other countries saw exports decline as Korea did. 

CJ is grappling with a management vacuum, caused by the absence of CJ Chairman Lee Jay-hyun. The business Group has put on hold massive personnel changes and investment plans for the past few years. Overcoming the difficulties, the business group plans to accelerate its efforts to make inroads into global markets by making the most of hallyu (Korean Wave)-related content in such areas as food and entertainment fields. 

CJ Group plans to expand exports of the food brand “Bibigo,” which was designed to promote the spreads of the traditional Korean cuisine culture. CJ Jeiljedang has five strategic exports, including refrigerated mandu (dumpling) and kimchi, under the brand Bibigo. CJ Foodville runs 14 Bibigo outlets in six countries, including the United States and the United Kingdom. CJ, which operates some 230 outlets in 10 countries under such other brands as Tous Les Jours, Twosome Coffee and Vips, devotes itself to realizing a vision of making people around the world eat Korean food once or twice each month. CJ operates bread-making schools as part of efforts to expand volunteering activities in such areas as Indonesia and Vietnam. 

CJ plans to enter the Chinese Kimchi market, CJ Jeiljedang is expanding the capacity of its kimchi-making plant in Emseong, Chungcheong-buk-do, in preparation for the opening of the Chinese kimchi market next year. Initially, CJ plans to expand the domestic kimchi production for exporting kimchi to China and prepare full-fledged exporting of kimchi to China next first half. CJ is now considering the establishing of a local production center in China. The group could establish a joint venture with existing Chinese kimchi makers instead of building a kimchi-making plant from scratch.

CJ has a variety of food brands contributing to globalizing Korean food.(Photos:CJ Group)