CJ Group, armed with unconventional, innovative technology and services, is accelerating its efforts to dominate foreign markets.
The group aims to make a “great leap forward” by 2020 to become a global life and culture company under the vision “Great CJ Plan 2020.” To this end, CJ plans to ramp up the competitiveness of its conventional businesses while focusing on global businesses to secure global growth engines. In particular, the group plans to make aggressive inroads into developing countries and new markets with a potential of high growth by making the most of content built on technology based on creative ideas.
CJ Cheiljedang plans to strengthen its global presence in biological resources businesses, including animal feeds and livestock, while exporting Korean foods abroad. With a focus on a bio plant in Malaysia, which was put into operation with a capacity of 80,000 tons in 2015, the company is making a full-fledged inroad into the methionine market, emerging as a new business model. The value of the global methionine market is estimated at about $5 billion, one of the biggest essential amino acid markets for animal feeds along with the lysine market, whose value is estimated at about $4 billion.
CJ Logistics Corp. is spearheading innovation of the logistics industry through the realization of the CJ Logistics 4.0 Initiative to rise to a global top five logistics company. The company is striving to develop and offer services differentiating itself from its rivals by making the most of advanced convergence technology based on the “Technology, Engineering, and System & Solution” (TES) and the nation’s largest network and knowhow. The company tries to help hallyu (Korean Wave) creep into the industrial field by transferring its advanced logistic capabilities abroad. The company is pursuing automation, intellectualization and optimization by integrating its proprietary technology and IT capabilities. CJ Logistics focuses on the development of new technologies related to advanced logistics management, analysis and design for the optimization of logistics operation and the offering of end-to-end IT services specializing in logistics.
CJ Logistics is the sole Korean logistics company to have an intra-company research institute with about 100 researchers with expertise in several areas, with a focus on research work on advanced logistics with logistics consultants who draw up strategies tailored to meet customers’ needs and optimize operation.
They can realize the establishment of smart logistics, employing such advanced technologies as delivery robots, unmanned delivery drones, augmented reality and integrated control centers. The company is pursuing advanced home delivery.
CJ Logistics has been spending a combined 122.7 billion won in installing small sorting automation devices at about 200 home delivery sub-terminals across the nation by April 2018. The company will become the first Korean logistics company to establish a full sorting automation process system.
CJ Cheiljedang Ramps Up Presence in Vietnamese Food Markets
CJ Cheiljedang will acquire a 64.9 percent stake in Minh Dat Food, a Vietnamese fish meatball processing company, in its scheme to strengthen a presence in the Vietnamese processed fish market. Last November, the Korean company signed a deal to purchase the shares of Vietnam’s largest fish meatball maker.
The first installment of the 15 billion won CJ Cheiljedang had agreed to pay was made on March 21. If the deal is closed in late April as agreed, the Korean company will own a 64.9 percent stake in the Vietnamese meatball maker with the largest market share in the Southeast Asian country. CJ Cheiljedang plans to step on the gas to make inroads into the Vietnamese food market with steep economic growth, which shows signs of keen interest in hallyu cuisine through M&As.
Last February, CJ Cheiljedang took over the kimchi maker Ong Kim’s after the company acquired a stake in the Vietnamese frozen food maker Cau Tre last December. Cau Tre is now being utilized as a center to produce “Bibigo’s Wanggyoja,” CJ’s large-sized Korean dumpling brand.
The company also plans to win the hearts of local Vietnamese by releasing flour and other food material products tailored to meet their needs. CJ Cheiljedang Vietnam’s flour plant was established in Vun Tau near Ho Chi Minh City in July 2015.
The plant, in which the company owns a 51 percent stake, can produce 100,000 tons of flour and 10,000 tons of premixes, including frying powder, annually.
