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CJ CheilJedang is looking to enter new markets overseas with the goal of growing its market further. To start off this project, the company launched a large-scale expansion scheme to bring its brand to more markets outside of South Korea.
As per The Korea Times, CJ CheilJedang is also aiming to bolster its brand’s global presence by dropping K-Food in other countries. The company has already entered the European, American, and Japanese markets and would like to add more territories to the list soon.
The South Korean food manufacturer was said to have made the decision to bring its food products to Australia, Canada, Malaysia, Thailand, and Indonesia. To make its presence known in these areas, CJ CheilJedang will be putting up local production facilities and establishing a country-to-country export business which is said to be a method of exporting goods made at international production bases and sold in neighboring countries.
"This year, we will make a fully-fledged entry into countries, the markets of which we have not yet entered and achieve innovative growth centered on the seven global strategic products, including dumplings, processed rice, chicken, K-sauce, kimchi, seaweed, and rolls," CJ CheilJedang’s chief executive officer, Choi Eun Seok, said.
In Thailand, the company is planning to expand its business there by taking full advantage of its close proximity to Vietnam, which is one of its production bases. The main products to be sold here are kimchi and Korean-style chicken and kimchi. Also, since this region loves Korean cultural content like K-pop and K-dramas, CJ CheilJedang will use the Mnet Asian Music Awards (MAMA) and KCON Kpop music convention for its promotions.
"Given that Thailand is a hub largely responsible for the spread of K-culture, the company plans to focus on increasing awareness of Bibigo brand products in the country by actively utilizing K-content such as KCON and MAMA," an official of the company said in a statement.
Pulse News further quoted the company’s CEO as saying, “This year will be the key to ensuring new growth engines in four key sectors - culture, platform, wellness, and sustainability, which CJ Cheiljedang had chosen as the keywords of its 2030 roadmap.”
Photo by: Jakub Kapusnak/Unsplash
