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Games & Commerce

CJ CheilJedang pushes K-food into new territories in overhaul bid

CJ CheilJedang, South Korea\'s largest food company, declared a high-intensity overhaul after its operating profit fell more than 20 percent last year. Chief Executive Yoon Seok-hwan outlined steps to optimise its business structure, fundamentally improve its finances and rebuild corporate culture. The company plans to invest in global strategic products to expand K-food abroad, shifting focus from a weak domestic market to fast-growing overseas businesses. Overseas food sales hit a record 59.247 trillion won last year, surpassing domestic sales.

Games & Commerce

CJ CheilJedang CEO Yoon Seok-hwan declares overhaul, says there is no complacent tomorrow

CJ CheilJedang CEO Yoon Seok-hwan has called for a full-scale overhaul of the company as it reported weak results last year, including a 15.2 percent fall in operating profit. He said the company must rebuild everything from the ground up, focusing on optimising its business structure, fundamentally improving its financial structure and rebuilding its corporate culture. He also pledged tougher decisions on businesses with no clear future and a zero-base review of spending.