CJ Cheiljedang becomes first S. Korean company to exceed $8 billion in food sales

By Kim Joo-heon Posted : February 14, 2023, 18:04 Updated : May 3, 2023, 15:13

[Courtesy of CJ Cheiljedang]

SEOUL -- CJ Cheiljedang, a key subsidiary of South Korea's food and entertainment conglomerate CJ Group, has recorded 11.1 trillion won ($8.75 billion) in food sales in 2022. The company which gained global popularity through a Korean cuisine brand called "Bibigo" has become the first domestic company to exceed food sales of 10 trillion won.
Cheiljedang has strived to gain a competitive edge in the global market and nurture Bibigo as a global brand. The company acquired many foreign companies such as Kahiki Foods, an Ohio-based maker of packaged and frozen Asian foods, and Mainfrost of Germany. In 2022, Cheiljedang's overseas food sales surpassed 5 trillion won.
Cheiljedang said in a statement on February 14 that the company achieved 11.1 trillion won only in food sales in 2022, up 16.1 percent on-year. The company said dumpling sales significantly increased in the U.S. market. Along with dumplings, the food maker aims to secure its foothold in the European and Chinese markets through kimchi, a traditional fermented vegetable dish, and Korean-style chicken.
Other domestic food companies including Nongshim and Lotte Confectionery reached 3 trillion won in sales through food items. Nongshim, the producer of Shin Ramyun (or ramyeon), a top South Korean brand of instant noodles well known for its spicy flavor, recorded 3.1 trillion won in sales, up 17.5 percent on-year. Ramyeon brands appeared in many different Korean films including the Oscar-winning film "Parasite." Lotte Confectionary known for Choco Pie, a chocolate-covered snack cake with marshmallow filling, achieved 4.7 trillion won in sales, up 11.1 percent from a year ago. 
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