SEOUL -- CJ Cheiljedang, a key subsidiary of South Korea's food and entertainment conglomerate CJ Group, was highlighted in the Harvard Business School's textbook for its successful expansion of the Korean cuisine brand "Bibigo" overseas. Through a case study, the global research institute featured the South Korean company's strategies and achievements through the iconic Korean food brand.
CJ Cheiljedang is the first South Korean company to exceed 10 trillion won ($7.6 billion) in food sales in 2022. The company has strived to gain a competitive advantage in the global market and nurture Bibigo as a global brand. Bibigo has many different products including dumplings, kimchi, a traditional fermented vegetable dish, and Jeonbokjuk, a Korean-style porridge made with abalone. In 2022, Cheiljedang's overseas food sales surpassed 5 trillion won.
Cheiljedang said in a statement on January 14 that Harvard Business School included the company's achievements in the global market through Bibigo. The case study titled "CJ Foods: The Path to Global Food Leadership," features Cheiljedang's global marketing strategies to attract global consumers through Bibigo such as providing the brand for KCON, an annual Korean culture convention held in various regions worldwide. The logo of Bibigo was also introduced to American consumers through the uniform of the National Basketball Association's Los Angeles Lakers.
Lee Sun-ho, the son of CJ Group Chairman Lee Jae-hyun, took part in the case study. The 33-year-old, who joined Cheiljedang in 2013 after graduating from Columbia University in the U.S., is currently serving as the company's chief growth officer. Lee has earlier unveiled his ambitious plan to enable people around the world to enjoy Korean food more than once or twice a week.
Targeting the global market, Cheiljedang has also acquired several foreign companies such as Schwan's Company, a frozen food manufacturer headquartered in Minnesota, Kahiki Foods, an Ohio-based maker of packaged and frozen Asian foods, and Mainfrost of Germany.
reporter
Kim Joo-heon
jhkim123@ajunews.com
