CJ Group has been diversifying its business line from foodstuffs to cultural contents, logistics and home-shopping in order to be reborn as a cultural content enterprise. At the same time, the group jumped into such future growth engines as bio and biotech engineering and other new businesses to ensure the sustainability of its operations.
The business group has also continued to seek the exploration of overseas markets for its products with its global-localize strategy to expand its operations as a global life cultural enterprise.
The group’s overseas operations will be spearheaded by its bio plant in Malaysia, which went online early last year to expand its share of the global methionine market, with methionine being the core element of the amino acid, which is also a vital element that makes up protein in the human body.
The group’s methionine plant in Malaysia has the annual capacity to produce 80,000 tons of methionine, whose global market is valued at 5.8 trillion won, the biggest in amino acid market in the world.
In the meantime, CJ Floodville has been trying to sell its “Bibigo,” a Korean food brand in the global food market to monitize Korean food culture by putting it on the menus of its Korean restaurants around the world. The move was also intended to have Korean food consumers overseas buy the ingredients that go into the Bibigo to create synergy in the sale of Korean foods around the world. Those inlcluded in the name of the Bibigo brand are frozen dumplings, hot pastes and kimchi.
CJ Korea Express has been working to make the company listed among the top-five global logistics firms in the world by setting up additional overseas outlets to handle its cargoes from Korea and cargoes shipped in its international logistics points. The company acquired Tongchang Logistics Co. to engage in the logistics for frozen cargoes around the world. Officials of the group said the takeover of the logistics company made CJ Korea Express to begin the one-stop integrated logistics service.
Tongchang Logistics has 48 terminals in China and 22 logistics centers around China with a total space of 300,000 sq. meters, in addition to the logistics network connecting 1,500 cities in China, which is serviced by some 1,800 cargo trucks that can move such cargoes as cosmetics, frozen goods, chemical products, among others. The company also operates general cargo trucks in line with its reputation being one of the largest frozen food delivery companies in China.
The group has been doing its best to provide diverse businesses and explore new markets, and the results have been showing. The group aims to continue to expand the cultural and service related businesses overseas, they said.
Redox Amino Acid supplier CJ Cheil Jedang (CJ) has started producing L-Methionine in its plant in Malaysia with a capacity of 80,000 tonnes per annum.
The company is utilizing an environmentally-friendly bio-fermentation process which uses raw sugar and grape sugar as raw materials. CJ discovered this process after eight years of research and development.
L-Methionine developed by CJ Cheil Jedang has been recognized for its superior bio-availability.
The production of 80,000 tons per year will change the world's Methionine market landscape, which is currently dominated by older technology, petroleum-based DL-Methionine.
Methionine, which has a global market size of $5 billion, makes up the biggest part of the total essential amino acid market for animal feed, along with lysine, which has a market size of $4 billion.
The plant producing L-Methionine is located in the coastal city of Kerteh, Malaysia and is therefore well positioned to capitalize on growing demand in Asia.
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