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CJ Group chief returns to helm after 4 years of absence

Collected: 2017.05.18

Distributed: 2017.05.22

Source: Go Direct

From left are CJ Logistics CEO Park Keun-tae, CJ CheilJedang CEO Kim Chul-ha, CJ Group chairman Lee Jae-hyun, chairman Lee`s wife Kim Heui-jae and CJ Vice-Chairman Lee Chae-wook. [Photo by CJ Group]

Lee Jae-hyun, chairman of South Korean retail conglomerate CJ Group, has returned to the helm after four years of absence due to imprisonment from criminal wrongdoings and treatment of his hereditary disease.

Lee declared his official return to chairmanship during an event to celebrate the inauguration of CJ Blossom Park, the group’s newly built R&D headquarters on food products and biologics, held on Wednesday.

During the ceremony, Lee said he will push efforts to develop new business opportunities and get stalled business projects back on track. The event was also attended by CJ Vice-Chairman Lee Chae-wook, CJ CheilJedang CEO Kim Chul-ha, and heads of key CJ affiliates.

Lee also laid out a new corporate vision dubbed ‘World Best CJ’ to become a global leader in three or more business sectors by 2030, a bolder goal than its previous vision of ‘Great CJ’ to achieve 100 trillion won ($89.4 billion) in combined sales by 2020.

The conglomerate that runs an expansive line of food and entertainment business in Korea and overseas aims to invest a total of 36 trillion won into logistics, biotechnology and content business by 2020 with 5 trillion won set aside for this year.

CJ Blossom Park is a large 110,000-square meter building consolidating CJ Group’s previously disparate food products, materials, biopharmaceutical businesses into a single location, enabling it to create industry-defining innovations and increase its global competitiveness. A total of 480 billion won was injected into completing the edifice where some 600 researchers work.

By Baek Sang-kyung

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