Focus

Chairperson of the National Assembly of Vietnam claims to be fully aware of CJ’s entry in Vietnam

2018.12.11

- A talk with CJ Group officials including CJ Logistics CEO Park Keun-Tae on the 7th, anticipating win-win growth just like football
- Nguyen claims the need for safe delivery service of high-value products, and subtly requests more entry of the logistics business

Chairperson of the National Assembly of Vietnam Nguyen Thi Kim Ngan who is currently visiting Korea has met with CJ Group officials including CJ Logistics CEO Park Keun-Tae and requested more investments, claiming that she is well aware of CJ’s entry in Vietnam such as food, culture and logistics.

CJ Logistics CEO and CJ Group China President Park Keun-Tae and other CJ Group officials met and talked with Vietnamese politicians including Nguyen Thi Kim Ngan, Chairperson of the National Assembly of Vietnam Nguyen Thi Kim Ngan currently visiting Korea, at Lotte Hotel in Jung-gu, Seoul on the 7th. Both parties agreed that Vietnam possesses great growth potential in food, culture and logistics, and discussed how to create synergy in CJ’s various fields of business.

Park explained CJ’s entry in the Vietnamese market and said, “CJ will not only develop core business competencies but also come up with various CSV (Creating Shared Value) projects with the people in Vietnam, in order to establish a safe food culture, industrialize Vietnamese culture, and globalize logistics that connect Vietnam to the rest of the world.”

“I’m well aware that CJ has been actively conducting business in various parts of Vietnam such as food safety, culture industry and logistics, and I look forward to more business investments,” responded Nguyen. “Currently, there is no last mile logistics companies such as delivery that can enable safe services. We need the service that ensures safe delivery of high-value products to the customers.”

“CJ Logistics is a comprehensive logistics company which retains the biggest market share in parcel delivery in Korea, and we’re aiming to expand business in cooperation with our partners in Vietnam,” said Park, and asked for Nguyen’s continued interest and support. He added, “CJ will further reinforce cooperation with various local businesses in addition to Vietnam’s national enterprises, and do our best to contribute to the national and economic development of Vietnam. We’re going to progressively increase investment with the business goal of making Vietnam the hub of business in Southeast Asia that connects Korea, the Americas and Europe.”

The two parties also talked about Vietnam’s national football team led by Korean coach Park Hang-seo, which has made it to the finals of the AFF Suzuki Cup. “Congratulations to Vietnam’s national football team on making it to the finals of the AFF Suzuki Cup,” said Park, which created a friendly atmosphere. “As Park Hang-seo is producing solid results by leading Vietnam’s national football team, the relationship between Korea and Vietnam will also surely bloom.”

Starting with the investment in feed business in 2001, CJ is now involved in 15 business fields of Vietnam including food, logistics, retail, cinema and content production with sales amounting to $1.5 billion a year. The company is particularly focusing on three businesses in Vietnam: food, culture industry, and logistics.

As for food business, CJ is about to complete the 7.3ha production complex in the Hiep Phuoc Industrial Park in Ho Chi Minh City, and will focus on successfully establishing food safety and an R&D center by collaborating with related agencies such as Vietnam Food Administration. For the culture industry, CJ is increasing investments with a focus on the cinema business, while also making various other investments to develop and train experts in film.

For logistics, CJ acquired the logistics and marine transport business of Vietnam’s largest logistics company Gemadept in October 2017 through CJ Logistics, and launched CJ Gemadept this past February. CJ plans to differentiate itself from other global logistics companies by using CJ Gemadept’s network and infrastructure as well as awareness in the Vietnamese market, and fully expanding contract logistics (CL) such as local storage, delivery and last mile.