• Site Map
  • PDF
  • Subscription
  • Register
  • LogIn
  • Site Map
  • PDF
  • Subscription
  • Register
  • LogIn
Economy
  • Policies
  • Finance
  • Economic Essay Contest
  • Photo News
Fri, April 27, 2018 | 13:35
      • North Korea
      • Entertainment
        • Music
        • Dramas & TV shows
        • Movies
        • Performances
        • Exhibitions
        • Photo News
      • Opinion
        • Editorial
        • Columnists
          • Park Moo-jong
          • Choi Sung-jin
          • Tong Kim
          • Lee Seong-hyon
          • Andrew Salmon
          • John Burton
          • Jason Lim
          • Donald Kirk
          • Kim Ji-myung
          • Michael Breen
          • Hyon O'Brien
          • Younghoy Kim Kimaro
          • Deauwand Myers
          • Bernard Rowan
          • Casey Lartigue, Jr.
          • Stephen Costello
          • Semoon Chang
          • Korean Historical Sense
        • Reporter's Notebook
        • Guest Column
        • Thoughts of the Times
        • Letter to the Editor
        • Times Forum
        • Cartoon
        • Today in History
      • Economy
        • Policies
        • Finance
        • Economic Essay Contest
        • Photo News
      • Biz & Tech
        • Automotive
        • IT
        • Heavy industries
        • Light industries
        • Science
        • Game
        • Photo News
      • National
        • Politics
        • Inter-Korean summit 2018
        • Foreign Affairs
        • Embassy News
        • Defense Affairs
        • Foreign Communities
        • Investigations
        • Easy Korean
        • Oddly Enough
        • Diseases & welfare
        • Labor & environment
        • Education
        • Seoul & provinces
        • Obituaries
        • Photo News
      • Culture
        • Books
        • Religions
        • Healthcare
        • Food
        • Fortune Telling
        • Hotel & Travel
        • Fashion
        • Korean Traditions
        • Trend
        • Photo News
      • Sports
        • Football
        • Baseball
        • Golf
        • Other Sports
        • 2018 PyeongChang
        • Photo News
      • World
        • SCMP
        • Asia Pacific
        • Americas
        • Europe
        • Middle East
        • Africa
      • Video
        • News
        • Feature
        • ShowBiz
      • Photos
      • Community
        • Time Forum
        • Market Place
        • Talk Box
        • Study Plaza
      • Learning English
    Finance
    CJ chief returns to top management
    Posted : 2017-05-17 17:02
    Updated : 2017-05-17 17:51
    CJ Group Chairman Lee Jay-hyun, center, greets employees as he participates in the opening ceremony of the company's research center in Suwon, Gyeonggi Province, Wednesday. Lee returns to the group after a four-year absence after being convicted of embezzlement and tax evasion in 2013. / Yonhap


    By Lee Min-hyung


    CJ Group Chairman Lee Jay-hyun returned Wednesday to the firm's top management, breaking a four-year hiatus after serving a prison term and receiving medical treatment.

    "I will get our incomplete businesses back on the right track by securing next growth engines," Lee said in a CJ Blossom Park opening event in Suwon, Gyeoggi Province. "I feel painful and have a deep sense of responsibility for failing to head the group and secure new revenue areas during my absence."

    This is the first time Lee has made a public appearance since May 2013 when he attended an annual corporate conference.

    Lee was put behind bars for embezzlement and tax evasion since July 2013. The head of the nation's leading food company was released in August 2016. He has since received medical treatment for certain health ailments, keeping a low profile in the group-wide businesses.

    "As of today, I will stand at the forefront of the corporate management," he said, pledging to spare no efforts in his aggressive global expansion drive.

    "By 2030, more than three of our businesses have to become the global No. 1," Lee said. "CJ Group's diverse business portfolios ― including content, logistics, food and bio ― will vitalize the local economy, at a critical time when traditional businesses are showing no signs of growth."

    CJ Group plans to invest 36 trillion won in the aforementioned cash cow businesses by 2020.

    In 2010, Lee said the company would generate 100 trillion won in sales by 2020, with 70 percent of them coming from overseas territories. But the unexpected leadership vacuum put the aggressive pledge on brakes, with CJ affiliates failing to draw group-wide long-term blueprints.

    In particular, CJ Group failed to win merger and acquisition contracts with companies put on sale, such as Coway and Dongbu Farm Hannong. On top of that, the company remained passive in investments during Lee's absence. CJ Group had made annual investments of less than 2 trillion won for three years since 2014.

    mhlee@ktimes.com More articles by this reporter


     
     
    • Suicide No. 1 cause of death for Korean teens
    • Kim to cross border to South at 9:30 a.m.
    • Historic summit begins
    • Nation hoping for successful summit
    • Inter-Korean summit chairs to feature Dokdo
    • Mongolia, Singapore on host city shortlist for Trump-Kim summit: report
    • The rise in fine dust in Korea and the collapse of governance
    • Foreign reporters to cover inter-Korean summit up close for first time
    • Summit - taking ownership of our fate
    • Seoul to crack down on plastic waste
    • In preparation for Moon-Kim summit

    • Pink Run Marathon

    • Human rights chief meets Swiss envoy

    • Wish for successful hosting

    • You can take your hands off

    • Sophia in Seoul

    • Caught a whopper!

    • 2018 Imjin Classic

    • Torch relay at 'freedom village

    • Veterans association donates $10,000 to USFK

    Moon with Kim [Photos]
     
    • About Korea Times
    • CEO Message
    • Times History
    • Contents Distribution
    • Media Kit
    • Contact Us
    • Location
    • Privacy Statement
    • Ombudsman
    • Mobile Service
    • PDF Service
    • RSS Service