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Biz News Korea(Eng)
CJ O Shopping’s Thai business inks first black in 2017
- Collected
- 2018.02.06
- Distributed
- 2018.02.07
- Source
- Go Direct
GCJ, joint-venture between CJ and Thai media conglomerate GMM Grammy PLC established in 2012, registered an operating profit of 200 million won ($182,631) for full 2017.
Its annual transaction value or total revenue for full 2017 reached 65 billion won, up 14 percent from a year earlier.
CJ O Shopping shares ended Tuesday 3.05 percent down at 219,300 won in Seoul trading.
The Korean home shopping channel has made big strides from its humble starting year of transaction worth 2.9 billion won. But GCJ has now become dominant player that records double-digit annual growth in revenue.
Localization strategy paid off, said a CJ O Shopping official said.
Of 300-odd staff, just four are from Korea. TV staff comes to Korea annually for training.
The company plans to up profitability and expand its share in the market by further improving home shopping contents and introducing new business lineups this year, said Sung Nak-je, Korean head of GCJ.
By Baek Sang-kyung and Cho Jeehyun
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]