With the addition of a fifth plant, CJ CheilJedang is poised to ignite new growth momentum in Japan, which has been swept by a new-generation Korean wave sparked by Korean pop music and sustained by Korean TV shows, food and other cultural exports, the company said.“We must take a bold step to become a ‘global leading company’ by accelerating localization and expanding our global infrastructure to enhance competitiveness,” CJ Group Chairman Lee Jay-hyun said during his first overseas business trip for this year in Japan earlier this year.
UNDAUNTED GLOBAL AMBITIONS The announcement of the new plant in Japan came about half a year after it unveiled a plan to build new food-manufacturing plants in Europe and the US, with an investment of $584 million to meet burgeoning demand for its frozen dumplings in the regions in line with the growing popularity of Korean food.
South Korea’s largest food company, CJ CheilJedang Corp., is shifting into high gear in its global expansion with a 100 billion won ($72 million) investment in a new frozen dumpling plant in Japan, about six months after announcing new plant addition plans in Europe and the US.
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