Choi Eun-seok, CEO of CJ CheilJedang, "Selected Eco-friendly Packaging, Health, and Nutrition as Core Tasks"

Eunseok Choi, CEO of CJ CheilJedang, is speaking at the 15th Annual General Meeting of Shareholders held on the 29th at the CJ CheilJedang Center in Jung-gu, Seoul.

[Asia Economy Reporter Eunmo Koo] Choi Eun-seok, CEO of CJ CheilJedang, announced that this year he has selected eco-friendly packaging and health and nutrition as core tasks. The strategy is to actively explore new business opportunities through mergers and acquisitions (M&A) in the food business and accelerate the expansion of new business areas such as the halal market.

At the 15th regular shareholders' meeting held at the CJ CheilJedang Center on the 29th, CEO Choi stated, “We will focus on executing growth strategies for online channels by accelerating digital transformation and provide customized solutions using big data and artificial intelligence (AI) technology so that the new generation can be more satisfied with the value of CJ CheilJedang’s products and services.”

By business division, in the food business, he announced plans to establish a global headquarters and, under an innovative organizational system that grants authority and responsibility to each region, to expand global core strategic products (GSP) such as dumplings, chicken, seaweed, kimchi, K-sauce, and processed rice, and to accelerate growth in the digital business.

CEO Choi said, “We will fully launch the alternative protein business and strengthen the new wellness (health) portfolio including health drinks and snacks. We will also accelerate the establishment of a UK subsidiary in Love, territorial expansion to Australia and Thailand, discovery of new business opportunities including M&A, and expansion into new business areas such as the halal market.”

In the bio business division, he revealed plans to advance the profitability structure of the amino acid business, expand large-scale natural premium materials, and enter the contract development and manufacturing organization (CDMO) business for therapeutics. He added that they will also secure capabilities for developing microbiome (gut microorganism) new drugs.

In the feed and livestock business, the plan is to expand a stable profit structure through structurally competitive strengthening optimized for the market environment of global expansion regions and to make the animal healthcare business a new growth engine. They also intend to secure new business opportunities through expanding new technology pipelines and activating open innovation.

He also stated that efforts to enhance shareholder value will continue. CEO Choi said, “Since last year, we have established a dividend policy for three business years through 2023, returning more than 20% of net income based on separate financial statements to shareholders, and we will strive for shareholder-friendly management by implementing quarterly dividends starting from the first quarter of this year.”

Meanwhile, CJ CheilJedang reappointed Chairman Son Kyung-sik as an inside director and reappointed Professor Kim Jong-chang of KAIST, Professor Kim Tae-yoon of Hanyang University, and Lee Si-wook, president of the Korean International Trade Association, as outside directors.

This content was produced with the assistance of AI translation services.