CJ affiliates focus on expansion in yearly shareholder meetings

CJ CheilJedang and CJ Logistics’ main focus for the year will be on expanding their presence abroad, the companies said in their annual shareholder meetings on Monday.

“Our aim this year is to be No. 1 in the global market, and to do so we will focus on enhancing our research and development,” said Sohn Kyung-shik, CJ Group chair and CJ CheilJedang CEO, in a statement.

The food giant will increase manufacturing facilities and sales networks for processed food in the United States, China, Vietnam and Russia.

In CJ Logistics’ shareholder meeting on Monday, it reaffirmed its goal to break into the global top five logistics companies by 2020. Last year, the company acquired Darcl Logistics in India, Ibrakom FZCO in the Middle East and Gemadept of Vietnam.

By Song Kyoung-son