SEOUL, KOREA- CJ Group will increase its budget to purchase domestically produced farm goods by about 1 trillion won to 1.7 trillion won until 2015. In addition, the group will make efforts to promote Korean farm goods and food items overseas jointly with government agencies and agricultural cooperatives.
CJ Group held on September 16 an event to pledge its commitment to shared growth with small enterprises and farmers. The event was attended by Minister for Food, Agriculture, Forestry, and Fisheries Lee Dong-phil and Commissioner of the National Commission for Corporate Partnership Yoo Jang-Hee, as well as CJ CheilJedang president Kim Cheol-ha.
The pledges included more purchases of locally produced food ingredients, efforts to promote joint brands for local food items, more exports of agricultural goods, and stepped-up globalization efforts for Korean food. The group expected that as many as 53,000 new jobs will be created in the agricultural sector through the endeavor.
For example, CJ Group companies such as CJ CheilJedang and CJ Freshway will increase its purchasing budgets through more volume purchases and fixed-price contracts. In addition, the companies will lend support to the farms in their R&D activities. CJ O Shopping, the TV shopping channel operator, will strengthen its "one village one brand" promotional effort. Kicked off in 2007, the campaign has yielded a total of 30.4 billion won of cumulative sales revenue for six years until last year.
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