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CJ Group, listed on Fortune's Change the World

2017.09.11
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CJ Group has become the first company to be listed among the 50 companies on the Change the World list compiled by Fortune, the world's leading business magazine based in the U.S.


- CJ Group, the only Korean company to have made the list, ranks 38th

▲ CJ Group on the Change the World 50 list, from U.S. Magazine Fortune's website.

In the morning on the 7th, Fortune published the Change the World 50 for 2017, which ranked CJ Group at 38th spot, following other influential global companies including JP Morgan (1st), Apple (3rd), and Walmart (7th). Among Asian companies, a total of 7 companies were included on the list, with CJ Group being the only Korean company among them. Since 2015, Fortune has annually published the Change the World list, which spotlights the 50 companies that were rated the highest in a given year in areas including influence on society and the environment, business performance, and innovation.

With regard to the reasoning for CJ Group’s inclusion, Fortune said, "With population aging emerging as a social issue on a global scale, CJ Group has received high marks for its contribution to creating quality jobs for the elderly and resolving the problem of poverty among the elderly through CJ Logistics’ Silver Delivery. Fortune also added, "Already, more than 1,000 jobs have been created, and the average monthly wage for those jobs is about 180% higher than that for part-time jobs in the public sector. And it is also noteworthy that CJ Group is planning to expand its Silver Delivery model and provide opportunities for social participation to the socially vulnerable, including people with developmental disabilities and low-income families.”


- CJ Logistics’ “Silver Delivery” scores high points for its contribution to aging society

Silver Delivery is a business model whereby a courier car arrives with parcels at an apartment complex, and then elderly people take over and deliver the parcels to each home using eco-friendly electric carts. Starting in Busan in 2013, Silver Delivery has created more than 1,000 jobs for seniors in more than 140 locations of CJ Logistics throughout South Korea. In addition, Silver Delivery enables the courier company to increase the quality of its delivery service by establishing a courier network within the apartment complex. As such, Silver Delivery is a creating shared value (CSV) model whereby both the company and the society can benefit.

One more good thing about Silver Delivery is that for the creation of jobs for the elderly, it encourages various members of society such as companies, communities, and public institutions to collaborate closely. CJ Logistics provides the elderly with steady volumes of parcels as well as eco-friendly equipment so that they can earn a stable income. The local governments provide budget and administrative support, while the Korea Labor Force Development Institute for the Aged supply personnel and take care of their training.

After signing an MOU for creating jobs for seniors with Korea's Ministry of Health and Welfare in 2013, CJ Logistics has been constantly expanding employment opportunities for seniors through conventions with the local governments around South Korea including the cities of Seoul, Busan and Incheon, as well as the Jeonnam provincial government, garnering attention both in South Korea and aboard. Silver Delivery received the "CSV Porter Award" in recognition of the aforementioned achievement in 2015 and was also recently introduced as South Korea’s representative example of job creation for seniors in a report by UK economics magazine “The Economist” themed on the phenomenon of increasing life expectancy across the globe. In addition, Silver Delivery was also included in the case study of sustainable development goals (SDGs) published by United Nations Global Compact (UNGC), a specialized agency of the United Nations.

▲ CJ Logistics’ “Silver Delivery”

According to chairman Lee Jay-Hyun's philosophy, which is that it is a company’s responsibility to build a sound industrial ecosystem that can coexist with various business partners and other members of society, CJ Group has established a department dedicated to CSV and is making efforts to achieve continuous mutual growth. Going forward, CJ group will continue to contribute to society according to its founding philosophy of ‘contributing to the growth of the national economy through business,’ which can be translated as building a stronger nation through business prosperity.

On the other hand, CJ Group was also named one of the "7 World-Changing Companies to Watch" by Fortune magazine, by virtue of the achievements of the CSV Project in rural Vietnam, which was carried out last year with an aim to increase the profits and self-sufficiency of Vietnamese farmers. Since 2014, CJ Group has been conducting contract cultivation in Ninh Thuan province of Vietnam to help the region’s impoverished farmers earn a stable income by educating them on how to grow Korean red peppers. In addition, CJ Group has also been conducting many other projects for the enhancement of living environments in the region, such as the renovation of village halls, kindergartens and elementary schools, and provision of running water.

Go to the Fortune news article > http://fortune.com/change-the-world/cj-group/