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| CJ Group Chairman Lee Jay-hyun, second row third from left, participates in his meeting with CEOs of affiliates at CJ Human Resource Center in downtown Seoul, Oct. 27. Courtesy of CJ Group |
By Kim Jae-heun
CJ Group Chairman Lee Jay-hyun met with the CEOs of company affiliates three days after a group-wide personnel reshuffle, asking them to draw up growth strategies, the company said Friday.
The gathering was held at CJ Human Resource Center in downtown Seoul, inviting CEOs of major affiliates and top executives from CJ Holdings.
Lee called for rapid establishment of a global group strategy and its execution starting next year.
"Whether we become a major player in the global scene or settle in the domestic market and face decline really depends on how we do between 2023 and 2025. It is important that we go back to basics and quickly build a plan that can put us in the forefront based on our corporate philosophy of Only One. The plan must be executed from 2023," Lee said during the meeting on Oct. 27.
The keys to Lee's plan are securing ability to bring about great change, accelerating innovative development centered on four major growth engines, securing the best workers and advancing financial strategy.
Last November, CJ Group proposed a medium-term goal to invest more than 10 trillion won ($7.03 billion) over the next three years in the fields of future growth related to culture, platform, wellness and sustainability.
Regarding the chairman calling for affiliates to establish future growth strategies, a CJ Group official said, "Lee's purpose is to respond flexibly to the business environment by setting up plans every two to three years, which are predictable."
CJ Group showed significant growth in the first half of this year, including marking a record-high business performance. However, Lee believes it is too early to say that the four major future growth engines he proposed as a key policy goal are operating to their full potential.
"We need a new strategy to strengthen our ability and it needs to be done based on close analysis of our business capabilities and the external environment," Lee said.
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