CJ companies to invest 20 trillion won by end of 2026
CJ companies will locally invest a total of 20 trillion won ($16 billion) by end of 2026, with a significant portion allocated to the entertainment and culture industry.
Of the 20 trillion won, 12 trillion won will be invested by CJ companies’ so-called culture businesses, which include CJ ENM and CJ CheilJedang's food division. The money will be used to invest in more media content production and to build food manufacturing plants.
CJ ENM's investment in entertainment has been especially successful. Song Kang-ho received the Best Actor Award for his performance in “Broker” at the Cannes International Film Festival on Saturday and director Park Chan-wook won Best Director for “Decision to Leave," which are both films invested and distributed by CJ ENM.
“CJ has been investing in movies and dramas since the mid-1900s, helping Korean content to earn global popularity and lead the industry,” said a spokesperson for CJ Group. “We plan to aggressively invest in the field to enhance Korea’s status as a soft power.”
Another 7 trillion won will be invested in logistics and e-commerce. Part of the investment will be made by CJ Logistics and used to expand its infrastructure. Some will go toward CJ Olive Young, to expand its presence in the global market and to improve its online services.
One trillion won will be invested into its wellness and sustainability businesses, which include CJ CheilJedang's bio division. CJ said most of the investment will be used to expand its manufacturing facilities that make biodegradable plastic and fulfill contract manufacturing orders it receives.
CJ companies expect the total 20-trillion-won investment to create 5,000 jobs per year until the end of 2026.
BY LEE TAE-HEE [firstname.lastname@example.org]