CJ Group to Plunk Down 20 Trillion Won into Content, Food Business Areas

CJ Chairman Lee Jay-hyun discloses CJ Group’s new vision at a video, released to his executives and staff members last December. (Photo: CJ Group)

CJ Group will pour 20 trillion won into future business areas, such as content and food, over the next five years in Korea. The investment amount is the biggest since the establishment of the group.

The group plans to increase the number of freshmen employees to more than 25,000 for the next five years.

The investment plan was announced by CJ Group on May 30. Last November, the group designed four growth engines — culture, platform, wellness and sustainability in its mid-term vision. Future investments and employment will be expanded based on the vision.

Investments in the culture sector, including content and the spread of cuisine culture centering around K-food will amount to 12 trillion won, the biggest bulk.

They include the production of well-made content targeting the global market and securing production capabilities, developing futuristic food and securing food production facilities.

Korean films financed and distributed by CJ recently won two prizes from this year’s Cannes Film Festival - best director for Park Chan-wook of “Decision to Leave” and best actor for Song Kang-ho of “Broker.” The latest two wins follow the Palme d’Or win by Bong Joon-ho’s “Parasite” in 2019.

CJ Group will channel a combined 7 trillion won into the expansion of infrastructure in the platform sectors, such as logistics and commerce.

CJ Logistics will secure the competitiveness for the operation of logistics such as the strengthening of e-Commerce optimization infrastructure system while the K-beauty platform CJ Olive Young will upgrade marketing services with IT applications and expand global sales portion.

The group will pour more than 1 trillion won into the wellness and sustainability sectors. It will prioritize investing in future new materials, such as the expansion of facilities capable of producing polyhydroxyalkanoates (PHAs), a class of biodegradable, biobased polymers.

CJ will also implement projects to build bio and pharmaceutical contract development and manufacturing organization (CDMO) facilities and upgrade natural premium materials.

Based on the investments, CJ said the group was expected to hire more than 5,000 freshmen employees annually. A CJ Group official said CJ is expected to create 25,000 to 30,000 jobs for the five years.