[go: up one dir, main page]
Wikipedia

CJ Group

(Redirected from CJ Corporation)

CJ Group (Korean: 씨제이) is a South Korean conglomerate holding company, operating internationally. It is one of the largest chaebol headquartered in Seoul, South Korea. It comprises numerous businesses in various industries of food and food service, logistics, pharmaceutics and biotechnology, entertainment and media, Pager and Telephone.[2] CJ Group was originally a branch of Samsung.

CJ Corporation
CJ Group
Formerly
  • Cheil Sugar Co., Ltd. (1953–1979)
  • Cheil Jedang Corporation (1979–2002)
  • CJ Co., Ltd (2002–2007)
Company typePublic
KRX: 001040
IndustryConglomerate
FoundedAugust 1, 1953; 71 years ago (1953-08-01)
FounderLee Byung-chul
FateMerged with Samsung to form Samsung Cheil Jedang.[citation needed]
Headquarters
33 CJ CheilJedang Center, Dongho-ro, Jung-gu, Seoul
,
South Korea
Area served
Worldwide
Key people
Lee Jay-hyun (Chairman)
Sohn Kyung-shik (Chairman)
Miky Lee (Vice-Chairman)
Lee Chae-wook (CEO)
Charles Jr. (CEO)
OwnerEstate of Lee Jay-hyun (47.07%)[1]
CJ Group through treasury stock (7.26%)[1]
DivisionsCJ O Shopping
Subsidiaries
Websitewww.cj.net

CJ comes from 'Cheil Jedang' (제일 제당), which literally translates to "first sugar manufacture", the industry where it originally started.

Notable CJ subsidiaries include CJ CheilJedang (Food and Beverage), CJ Logistics (Logistics), CJ Olive Networks (Health & Beauty Stores & IT), CJ ENM (Entertainment and Retail), and CJ CGV (Cinema Chain). The group is chaired by Lee Jay-hyun, eldest grandson of Samsung's founder.

History

edit

1955 to 1970

edit

CJ was founded as 'Cheil Jedang' in August 1955 as a sugar and flour manufacturer and was originally part of Samsung Group, as its first manufacturing business. In 1955, it opened the first flour mill in South Korea and in 1962, started exporting sugar to Okinawa, Japan. In 1965, Cheil Jedang's sugar business was branded as 'Beksul'.[3][4] The company entered into the artificial seasoning market in 1963 with Mipoong, competing against Miwon, the then-best-seller by Daesang.[3]

1971 to 1990

edit

In the 1970s, CJ continued its growth as a composite food company.[4] In 1973 CJ entered into the feed business, launching 'Pungnyeon Feed'.[4] In 1975, CJ developed mass-production techniques for "Dashida", a seasoning product, as well as technology for the mass-production of nucleic acids for the first time in South Korea in 1977, launching first market its first nucleic acid seasoning, "Imi".[4] In 1979, the company was renamed 'Cheil Jedang Corp.' and started producing cooking oil under Beksul.[4]

In the 1980s, CJ expanded to processed food items such as beverages and frozen foods, and entered the pharmaceutical business based on new advanced technologies.[5] In 1984, CJ established ETI, a local subsidiary, in New Jersey, U.S. as a joint venture project[3] In 1986 CJ's Biotechnology & Pharmaceutics division succeeded in becoming the third in the world to develop Alpha-interferon, an anticancer medicine, as well as launching 'Hepaccine-B', a hepatitis vaccine.[4] It established Cheil Frozen Food and launched its beverage business in 1987.[4] With the establishment of Cheil Jedang Indonesia in 1988 and the construction of a lysine and synthetic seasoning plant in Indonesia in 1990,[4] CJ started reaching markets outside South Korea.

1991 to 2001

edit

In the 1990s, CJ went through periods of conversion and growth as it transitioned into the area of life and culture from focusing on the food and pharmaceutical industry.[4] However, it continued to develop new food products such as 'Condition', a supplemental drink that alleviates hangover symptoms, in 1992 and 'Hetbahn', an aseptic packaged rice, in 1996.[4] In July 1993, Cheil Jedang spun off from Samsung and gained independent management, changing into a life and culture group by entering into the food service and entertainment industries. In 1996 it became 'Cheil Jedang Group' and completed its official separation from Samsung Group in February 1997.[5]

Since then, CJ has entered into the fields of media, entertainment, finance and information & communication businesses mainly through M&As of companies such as m.net, a music cable channel, and Cheil Investment & Securities in 1997, and establishments of new subsidiaries such as Cheil Golden Village (currently CGV) in 1996, Dreamline (which was sold off in 2000), jointly with Korea Expressway in 1997, [CJ GLS] in 1998, CJ O Shopping, CJ Europe and CJ FD (standing for food distribution) in 1999. In addition, CJ opened VIPS, a family restaurant chain, in 1997, and launched South Korea's first multiplex theater, CGV, in 1998.[4]

2003 to present

edit

In October 2002, CJ Group was launched and the official name of the company changed to 'CJ Co., Ltd'. In September 2007, CJ Co., Ltd again spun off as a business holding company renaming to 'CJ CheilJedang Co., Ltd' and CJ Group became a holding company for a number of food and entertainment-related subsidiaries based in South Korea. It consists of four main core businesses: Food & Food Service, Bio Pharmaceutics, Entertainment Media, and Home Shopping & Logistics.[3]

Korean billionaire Lee Jay-Hyun has been chairman of CJ Group since March 2002.[6] His older sister Lee Mi-kyoung is the vice chairman of the company.[7]

Starting from May 2007, CJ Group announced that it will be hiring more women in the company. It also announced that it will be doubling their allowance time for women who need to go on leave due to pregnancy.[8] (Maternity Leave). Korean law requires women be allowed up to 90 days of maternity leave. However, CJ has extended this time to one year.[8]

In 2010, CJ Media, CJ Entertainment, Mnet media, On-Media and CJ Internet merged to form O Media Holdings, which became CJ E&M in March 2011. Since then, CJ E&M has been highly influential in its contribution to Korean pop culture and the "Korean Wave" (Korean: Hallyu), a phenomenon of the spread of Korean culture, through the creation of successful TV programs such as "Superstar K", "Respond 1997", and films such as "Masquerade".[5]

Since introducing the first multiplex theaters, CGV, in 1998 to South Korea, the company has been developing what it calls "cultureplex", a space where eateries, performance halls, shops and multiplex theaters come together to provide a more rich cultural experience to consumers, CGV Cheongdam Cine City, which opened in 2011 being an example.[3]

In July 2018, CJ E&M and CJ O Shopping merged into new company CJ ENM (CJ Entertainment and Merchandising).[9][10]

In August 2018, CJ CheilJedang acquired Kahiki Foods, an American food manufacturing company based in Columbus, Ohio.

Global expansion

edit

CEO Lee Jay-Hyun has announced 2013 to be the start of CJ's full-fledged global expansion efforts, setting 2020 as their goal of achieving its vision of "Great CJ".[3] By 2020, the conglomerate hopes to reach 100 trillion won in sales, 70 percent of which they expect will come from abroad, and to grow into the world's No.1 at least two of its core businesses.[3] As of 2013, CJ has penetrated into the global market throughout Japan, China, Europe, the U.S. and South America (especially Brazil).[11]

Food and beverage service
edit

Taking Korean food abroad, CJ Foodville has launched bakeries and restaurants globally. Starting with opening a Tous les Jours store, a bakery chain, in Los Angeles in 2004, CJ has launched the chain also in China and Vietnam, where double-digit sales growth is maintained.[3] The first Tous Les Jours in Hanoi, Vietnam, opened in June 2012,[12] and in December 2012, the 20th and 21st Tous les Jours opened in New Jersey and New York.[13] Also brands of Foodville, VIPS (steakhouse) and A Twosome Place (coffee shope) have opened stores in China[14] and Vietnam as well as other countries in Asia.[3] Bibigo is a Bibimbap (a traditional Korean food) restaurant which CJ planned as a global brand from the beginning, opening in Los Angeles, Beijing and Singapore since 2010. It also opened its first store in London in 2012 during the London Olympics.[3][15] In 2018, CJ CheilJedang acquired Kahiki Foods, an American food manufacturing company based in Columbus, Ohio.

Biotechnology and pharmaceutics
edit

In 2012, the construction of the $400 million nucleic acid factory in Shenyang, China was completed and will start producing animal feeds such as lysine and threonine and nucleotides in 2013.[5] CJ is also constructing a lysine plant in Fort Dodge, Iowa, which is scheduled to start production within 2013 and CJ expects this will help reach 30 percent of the global market share within the year, topping GBT of China, Ajinomoto of Japan, and ADM of the U.S.[16]

Home shopping and logistics
edit

CJ O Shopping, CJ's cable home shopping channel, entered into China in 2004, India in 2009, Japan and Vietnam in 2011, Thailand and Turkey in 2012, the Philippines (together with ABS-CBN Corporation) in 2013[3][17] and Mexico (together with Televisa) in 2015.[18] CJ GLS and CJ Korea Express are the logistics part of the company that handles its international affiliates.[3] CJ has exported its logistics system to India in 2011,[19] Vietnam in 2011, soon after the launch of CJ O Shopping,[20] and Thailand in 2009,[21] in which CJ GLS hopes to expand throughout the entire country by 2016.[3]

Entertainment and media
edit

CJ E&M leads the Korean Wave with its K-pop content business. "Mnet Asian Music Awards" was held in Macau in 2010, Singapore in 2011 and in Hong Kong in 2012 and 2013, attracting more than 1 billion viewers worldwide.[3] CJ CGV, CJ's movie business, is expected to open 15 IMAX theaters in China by the end of 2015.[22] through new joint projects across China.[23]

Family feud

edit

Although spun off from Samsung in 1993, CJ is still related to Samsung through family ties. The CEO of Samsung, Lee Kun-hee, is the younger brother of Lee Maeng-hee, the former president of CJ. The family came to the center of the media spotlight when Lee Maeng-hee and sister Lee Sook-hee filed civil suits against Lee Kun-hee, claiming that Lee Kun-hee had illegally acquired his inheritance by concealing parts of their father's, Lee Byeong-chul, assets.[24] As a remedy, they asked for shares of Samsung Life Insurance, which controls Samsung Electronics.[24]

Since then, the feud was highly publicized as the brothers were quoted in attacking each other through the media, and intensified after it was found out that a Samsung employee had tailed Lee Jay-hyun,[when?] the chairman of CJ group.[25]

In January 2013, the court ruled against Lee Maeng-hee on the basis that there was not enough evidence to prove that the dividends and proceeds of Samsung was part of the inheritance.[26]

Conviction of chairman

edit

Company chairman Lee Jay-hyun was arrested in 2013 and convicted in 2014 of tax evasion and embezzlement. He was released from prison in August 2016 in an annual presidential pardon.[27]

Acquisitions

edit
  • 1962 Wonhyeong Industrial CO[4]
  • 1968 Mipung Industrial CO[4]
  • 1971 Dongyang Jedang[4]
  • 1975 Yongin hog farm[4]
  • 1985 Dongryp Industrial Corp
  • 1997 m.net, Cheil Investment & Securities[4]
  • 2000 39 Shopping[4]
  • 2004 CJ Consortium,[4] Shin Dong Bang Corp.,[4] CJ Internet,[4] Planers[4] (now CJ Internet), Hanil Pharmaceuticals Ind.,[4] feed plant in Turkey[28]
  • 2006 Accord Express (Singaporean logistics company)[29]
  • 2017 CJ Darcl Logistics Limited[4]
  • 2007 Pioneer Trading, Inc.(now CJ Omnifood), an American food manufacturing company
  • 2009 Onmedia[30]
  • 2011 Korea Express[31]
  • 2018 Schwans Company
  • 2018 Kahiki Foods, an American food manufacturing company based in Columbus, Ohio
  • 2024 Emtek

Subsidiaries

edit

source:[32]

Food and food services

edit
  • CJ CheilJedang Food division[33]
  • CJ Foodville
    • Bibigo
    • Cheiljemyunso (noodle restaurant)
    • China Factory (Chinese restaurant chain)
    • CJ Foodworld
    • Seafood Ocean
    • The Steak House by VIPS (New York style steak restaurant)
    • Tous Les Jours (bakery franchise)[34]
    • VIPS (steak and salad restaurant chain)
    • VIPS Burger (burger chain)
  • CJ Freshway

Bio pharma

edit
  • CJ CheilJedang's Bio division

Home shopping & logistics

edit
  • CJ ENM Commerce division
  • CJ Logistics
  • CJ Telenix
  • CJ Olive Networks Young division - launched in merger of CJ Olive Young and CJ Systems

Entertainment and media

edit

Other language channels

edit
  • Shop CJ India - Hindi Indian home shopping channel
  • O Shopping - Philippine home shopping channel
  • CJ Grand Shopping - Mexican home shopping channel
  • CJ Wow Shop - Malaysian home shopping channel (formerly) [35][36]

Infrastructure

edit
  • CJ Logistics E&C division
  • CJ Olive Networks IT business division

Former subsidiaries

edit
  • CJ CheilJedang's Beverage Division - sold to Lotte Group in 2001
  • CJ Investment & Securities - sold to Hyundai Heavy Industries Group in 2008, then sold again to DGB Financial Group in 2018, now known as Hi Investment & Securities
  • CJ Asset Management - sold to Hyundai Heavy Industries Group in 2008, then sold again to VI AMC in 2020, now known as VI Asset Management
  • ChampVision also known as Champ TV - sold to Taekwang Group in 2011
  • KM - sold to GTV (Berry Entertainment & Media) in 2015, now known as GMTV
  • Badook TV - sold to Korea Baduk Association in 2015
  • CJ Digital Music - merged with Genie Music in 2018
  • A Twosome Place (premium dessert cafe) - sold in 2020 to Anchor Equity Partners, which sold it to The Carlyle Group after a year

See also

edit

References

edit
  1. ^ a b "주주현황 | Cj그룹". Archived from the original on July 21, 2021. Retrieved July 21, 2021.
  2. ^ "History – About CJ – CJ For Better Life". english.cj.net. Archived from the original on February 17, 2014. Retrieved January 11, 2014.
  3. ^ a b c d e f g h i j k l m n Kim, So-hyun (March 4, 2013). "CJ rises as beacon of Korean food, shopping, pop culture". The Korea Herald. Archived from the original on September 21, 2018. Retrieved March 26, 2013.
  4. ^ a b c d e f g h i j k l m n o p q r s t u v w "CJ history". English.cj.net. Archived from the original on February 17, 2014. Retrieved February 23, 2014.
  5. ^ a b c d Kim, So-hyun (March 4, 2013). "CJ rises as beacon of Korean food, shopping, pop culture". The Korea Herald. Archived from the original on March 4, 2013. Retrieved March 4, 2013.
  6. ^ "이재현: 네이버 통합검색". Search.naver.com. Archived from the original on June 29, 2020. Retrieved February 23, 2014.
  7. ^ "이미경 :: 네이버 인물검색". people.search.naver.com. Archived from the original on July 12, 2012. Retrieved January 11, 2014.
  8. ^ a b "씨제이, 여성간부 두배 늘린다: 경제일반: 경제: 뉴스: 한겨레". The Hankyoreh. May 12, 2009. Archived from the original on January 11, 2014. Retrieved January 11, 2014.
  9. ^ "CJ오쇼핑·CJ E&M 합병법인 사명 'CJ ENM'으로". www.cj.net. Archived from the original on June 17, 2018. Retrieved January 17, 2019.
  10. ^ Kwon, Do-yeon (January 17, 2018). "CJ 오쇼핑-CJ E&M 합병, "글로벌 미디어커머스 플랫폼으로"". Bloter. Archived from the original on January 17, 2018. Retrieved January 17, 2018.
  11. ^ "Global CJ". Archived from the original on January 27, 2013. Retrieved March 26, 2013.
  12. ^ "CJ Foodville opens its first bakery in Hanoi". Yonhap News Agency. June 27, 2012. Archived from the original on January 11, 2014. Retrieved March 6, 2013.
  13. ^ "Tous Les Jours, opened 2 branches at New York & New Jersey, USA". CJ Press. Archived from the original on June 6, 2013. Retrieved March 26, 2013.
  14. ^ Kim, Young-gyo (September 17, 2012). "CJ Foodville opens its first steak house in China". Yonhap News Agency. Archived from the original on January 11, 2014. Retrieved March 6, 2013.
  15. ^ Lee, Ji-yoon (March 26, 2012). "CJ going global with 'quick' bibimbap". Archived from the original on May 28, 2013. Retrieved March 6, 2013.
  16. ^ "CJ to operate amino acid plant in China". The Korea Herald. September 2, 2012. Archived from the original on May 28, 2013. Retrieved March 6, 2013.
  17. ^ "What to expect from ABS-CBN's new TV shopping program | ABS-CBN News". Archived from the original on October 29, 2013. Retrieved April 4, 2014.
  18. ^ "CJ O Shopping Knocks on Mexican Home Shopping Market". The Korea Times. May 28, 2015. Archived from the original on March 8, 2016. Retrieved March 8, 2016.
  19. ^ "CJ GLS India". CJ GLS. Archived from the original on April 10, 2013. Retrieved March 26, 2013.
  20. ^ "CJ GLS begins parcel delivery service in Vietnam". Yonhap News Agency. July 5, 2011. Archived from the original on August 8, 2011. Retrieved March 6, 2013.
  21. ^ "CJ GLS Thailand". CJ GLS. Archived from the original on April 10, 2013. Retrieved March 26, 2013.
  22. ^ Krishnamoorthy, Anand (September 20, 2010). "Imax to Open 15 Theaters in China With Partner CJ CGV of South Korea". Bloomberg. Archived from the original on October 7, 2013. Retrieved March 6, 2013.
  23. ^ Kim, Young-gyo (November 9, 2012). "S. Korea's CGV to open 15 IMAX theaters in China". Yonhap News Agency. Archived from the original on July 29, 2022. Retrieved March 6, 2013.
  24. ^ a b Yang, Jun (June 6, 2012). "Samsung's Family Feud". Bloomberg. Archived from the original on June 8, 2012. Retrieved March 6, 2013.
  25. ^ "Police summon Samsung worker for tailing CJ chief". The Korea Herald. March 11, 2012. Archived from the original on May 28, 2013. Retrieved March 6, 2013.
  26. ^ "Samsung boss Lee Kun-hee wins US$4b in inheritance row". Associated Press. February 2, 2013. Archived from the original on February 5, 2013. Retrieved March 6, 2013.
  27. ^ "Family Behind Korean Conglomerate Lotte Is Indicted in Corruption Case". The New York Times. October 19, 2016. Archived from the original on December 30, 2020. Retrieved October 20, 2016.
  28. ^ "South Korea's CJ Corp. Acquires Feed Plant in Turkey". Archived from the original on June 12, 2013. Retrieved March 16, 2013.
  29. ^ "Accord Express and CJ GLS Complete Merger". Global Institute of Logistics. Archived from the original on December 15, 2013. Retrieved March 16, 2013.
  30. ^ Yang, Sung-Jin (2009). "ROK Daily: CJ Group Takes Over Onmedia: Report by Yang Sung-Jin". The Korea Herald.
  31. ^ Park, Kyunghee; Bomi Lim (June 28, 2011). "CJ Group Beats Out Posco-Samsung for Korea Express Stake; Stock Plunges". Bloomberg. Archived from the original on October 7, 2013. Retrieved March 6, 2013.
  32. ^ "Affiliates | About CJ | CJ Group". english.cj.net. Archived from the original on April 6, 2022. Retrieved January 17, 2019.
  33. ^ "CJ For Better Life". english.cj.net. Archived from the original on April 10, 2016. Retrieved January 11, 2014.
  34. ^ Lee, Hyo-sik (December 7, 2012). "Retailers leave China for Southeast Asia". The Korea Times. Archived from the original on December 5, 2023. Retrieved March 21, 2013.
  35. ^ "Media Prima buys remaining stake in CJ Wow Shop | New Straits Times". September 2020. Archived from the original on April 6, 2022. Retrieved November 20, 2020.
  36. ^ "Media Prima's CJ Wow Shop undergoes brand refresh, unveils online avatar". October 30, 2020. Archived from the original on April 16, 2022. Retrieved November 20, 2020.
edit
  • Official website
  • Business data for CJ Corporation:
Retrieved from "https://en.wikipedia.org/w/index.php?title=CJ_Group&oldid=1251303128"