CJ is determined to lay a foundation this year to realize the vision “Great CJ,” calling for chalking up 100 trillion won in sales by 2020. To this end, the group is accelerating efforts to maintain sizeable growth in all business areas with a focus on securing a sustainable No. 1 position.
CJ Cheiljedang, setting the global Korean food brand “Bibigo mandu (dumpling)” at the head, has launched strategies to be the undisputed leader in the global dumpling market. The company aims to raise Bibigo mandu sales to 1 trillion won by 2020, of which 70 percent portion will come from overseas markets.
CJ Cheiljedang set up a platform to enter the European market by acquiring the Russian frozen food maker Ravioli.
CJ Cheiljedang plans to expand exports to countries in Southeast Asia, South America and the Commonwealth of Independent States (CIS), based on each country’s production center. The company plans to concentrate on securing a stable market position by acquiring a local company with a competitive edge.
CJ Cheiljedang is producing the Bibigo mandu and cha gio, Vietnamese dumplings, through Cau Tre, a Vietnamese frozen food maker. The company has expanded the capacity of a plant in Guangzhou and set up a new one in Beijing to meet growing demand for Bibigo mandu.
The company is ramping up investments to expand its mainstay business and strengthen its competitive edge. It will invest 540 billion won by 2020 to establish a world-class integrated food production center outfitted with state-of-the-art technologies. Abroad, CJ Cheiljedang acquired Selecta, a Brazilian soy protein concentrate maker with a global largest market share.
CJ Logistics is implementing diverse growth strategies, including global M&As and joint ventures, with the goal of becoming a global top 5 logistics company.
Last year, the company acquired Darl Logistics, the Indian No. 1 logistics company, and Ibrakom in the United Arab Emirates. CJ Logistics also took over the maritime business from Gemadept Logistics, Vietnam’s largest logistics company to establish a network covering a pan-Asian area.
CJ E&M will host KCON, the world’s largest hallyu (Korea Wave) convention, and Mnet Asian Music Awards, Asia’s largest music festival, this year to spread hallyu to all around the world.
The series KCON took place in five locations in the world last year Mexico in March, in Japan in May, New York in June, Los Angeles in August, and Australia in September. The event has established itself as an integrated cultural platform to spread Korean life styles to the world. CJ Group is striving to realize the vision “Great CJ” by conducing aggressive M&As and expanding businesses in emerging and new markets amidst continued global crises, a group official said. Chairman Lee recognizes culture businesses as a future growth engine for both CJ and Korea.
CJ Cheiljedang, established in 1953, is the mother company of CJ Group. CJ Cheiljedang was merely a food company specializing in domestic cuisine before it was spun off from Samsung Group in the 1990s. But under the stewardship of CJ Group Chairman Lee Jay-hyun’s determination to explore new industries, CJ Cheiljedang has aggressively ventured into cinema, broadcasting, media, music (CJ E&M), multiplex (CJ CGV), home shopping (CJ O Shopping), and logistics (CJ Logistics).
Thanks to its early investments, CJ Group has an international life and culture business portfolio that is leading the spread of hallyu around the world. The group has seen sales jump 20 times and about 40,000 new jobs be created over the past 20 years.