Latest news with #CJGroup
Yahoo
06-08-2025
- Business
- Yahoo
THG strikes Myprotein licensing deal in South Korea
Myprotein owner THG has entered a licensing partnership with SG Safety Corp. to expand distribution of the sports nutrition brand in South Korea. The agreement with SG Safety, part of the CJ Group local conglomerate, will see the launch of the Myprotein brand into offline channels in South Korea for the first time, London-listed THG said in a filing. CJ Group will also manufacture Myprotein branded products locally under license, including bars, snacks, powders, ready-to-drink products, and supplements. THG said it will continue to produce its core protein powders, with SG Safety acting as distributor in the South Korean market. The partnership marks the company's first licensing agreement in South Korea, enabling it to deepen its presence in a 'capital-light manner', the filing read. Set for a consumer launch in the fourth quarter, the agreement builds on Myprotein's online presence, where South Korea ranks among its 'top five' global markets. The filing did not reveal the offline marketing channels. Citing industry data, THG noted the South Korean sports nutrition market was valued at $1.88bn in 2023 and is projected to reach $3.05bn by 2030, a compound annual growth rate (CAGR) of 7.2%. Neil Mistry, CEO of THG Nutrition, said: 'This collaboration will strengthen our presence in one of Myprotein's most important markets, while also creating new opportunities to grow across established and emerging product categories, and to extend our reach across both offline and online channels.' The agreement complements Myprotein's existing partnerships in Asia, such as with Japan's Itochu, the company said. Jung-Hyun Sung, the CEO of SG Safety, said: "We're excited to be partnering with THG Plc to expand access to Myprotein across South Korea. "The demand for trusted, high-quality nutrition products continues to grow, and this agreement allows us to meet that demand through local expertise in manufacturing and distribution, supported by the strength of the Myprotein brand." THG operates two primary consumer-facing businesses: THG Nutrition, which includes Myprotein, and THG Beauty. In 2024, the company spun-off its tech platform, THG Ingenuity, into a standalone business. In April, THG's board rejected an 'unsolicited" and "largely unfunded" takeover proposal for Myprotein from Selkirk to the tune of as much as £600m ($798.7m). The board considered the offer to be "undervalued". In a first-quarter trading update in April, THG reported continuing revenue of £371.4m, down 6.1% in constant currency terms. THG Nutrition posted revenue growth of 0.1%. The company maintained its full-year 2025 revenue growth guidance of 'mid-single digits'. Meanwhile, in filing today (6 August), THG announced the sale of its Claremont Ingredients business to Nactarome Group, majority-owned by TA Associates, for £103m in cash. The company had acquired the flavour manufacturing business for £52m in 2020. Additionally, THG reported an estimated first-half adjusted EBITDA of £24m, down from £37.1m in H1 2024, attributing the decline to higher whey pricing. THG Nutrition recorded 'double-digit' revenue growth across June and July, with the company projecting second-half Nutrition revenue growth of between 10% and 12%. THG also projected a group adjusted EBITDA of approximately £50m for H2 2025. "THG strikes Myprotein licensing deal in South Korea" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Korea Herald
07-07-2025
- Business
- Korea Herald
CJ AI R&D Division to Launch Millstone CUE in August, a Game Changer in Content Creation
SEOUL, South Korea, July 7, 2025 /PRNewswire/ -- CJ Group will launch its AI-powered video solution, Millstone CUE, this August, offering comprehensive services from video search and editing to content generation. The initial release will focus on automatically detecting and blurring people and objects within videos, with additional features to follow. Millstone CUE integrates proprietary AI Blur and AI Remover technologies that automatically detect and either blur or seamlessly remove individuals, brand logos and filming equipment appearing in video footage. Moving beyond traditional manual editing, the system understands the full context of a video and processes it automatically. Extensive testing has confirmed it can reduce editing time by up to 91 percent. CJ ENM first deployed AI Blur in internal video production workflows, validating its accuracy and performance. It was used in YouTube content featuring K-pop group ZEROBASEONE and Mnet's WORLD OF STREET WOMAN FIGHTER, accelerating the delivery of polished, professional videos. Following the official launch, Millstone CUE will be available to creators, broadcasters and businesses, making advanced video editing tools more accessible across the content industry. Unlike existing services, Millstone CUE uses proprietary AI to identify and track people and objects without the need for reference images. It performs reliably across a variety of angles, lighting conditions and distances. Patent applications have been filed in both Korea and international markets. Creators often struggle to properly remove sensitive or unwanted content due to time and budget constraints, while videos featuring numerous individuals are widely and indiscriminately shared. The exposure of individuals' faces without consent poses serious risks of privacy violations, unauthorized use and even potential criminal misuse. Unwanted elements such as filming equipment can also detract from a video's overall quality and viewer experience. Millstone CUE offers a solution. It safeguards individual rights and automates repetitive, labor-intensive editing tasks through AI, allowing creators to focus on creative expression. The tool enables content production that is efficient, ethically responsible and delivers both speed and integrity in the creative process, including CG/VFX workflows. CJ Group sees Millstone CUE as a pivotal step toward a paradigm shift in how content is created. The company plans to enhance the platform with AI innovations across video search, editing and generation to elevate content quality and viewer engagement. "Millstone CUE marks the beginning of our journey to transform culture through AI," said CHihoon Lee, head of CJ's AI R&D Division. "Our AI technology acts as a creative collaborator and enabler, helping produce immersive, high-quality content. We are shaping the future of Korea-focused AI, building on our global technological strengths to lead the next wave of cultural innovation."
Korea Herald
25-06-2025
- Business
- Korea Herald
CJ BIO Announces Participation in IFT 2025, Showcasing Taste Innovation Rooted in Quality and Authenticity
DOWNERS GROVE, Ill., June 25, 2025 /PRNewswire/ -- CJ BIO is proud to announce its fourth consecutive participation in the Institute of Food Technologists (IFT) First Annual Event and Expo, taking place in Chicago this July. Since rejoining the global exhibition circuit post-COVID in 2022, CJ BIO has solidified its presence at IFT as a forward-thinking innovator in clean label and taste-enhancing food solutions. This year's theme, "Cutting Sodium, Cutting Cost, and Clean Label Solutions – Driving Taste Innovation through Localized Application," reflects CJ BIO's commitment to delivering quality and authenticity, two key drivers of modern food innovation. With growing consumer focus on price, health benefits, and naturalness, CJ BIO brings a customer-centric showcase to the IFT stage. TasteNrich ®: The Core of CJ BIO's Taste & Savory Innovation At the heart of the booth is TasteNrich ®, CJ BIO's flagship brand built around the unique concept of clean umami—a modern approach to delivering rich, satisfying taste while maintaining ingredient transparency. Designed to enhance umami without compromising authenticity, TasteNrich ® solutions help brands meet growing demand for clean-label formulations. The SOLUTION line offers high-end natural umami boosters that elevate taste with refined simplicity, while the BASIC line provides a cost-effective alternative that retains the depth of flavor consumers expect—all grounded in a commitment to preserving authentic taste and enriching it through clean innovation. The broader TasteNrich ® portfolio also includes: Focus on Customer Experience & K-Culture Integration CJ BIO's 2025 booth will center on immersive customer experiences, inviting visitors to engage directly with its innovative solutions. A K-culture-inspired tasting event featuring tteokbokki will showcase the versatility of CJ BIO's portfolio in globally beloved applications. A Booth Designed for Impact CJ BIO will debut a newly designed booth highlighted by four striking LED pillars that broadcast core messages—engaging visitors while showcasing its forward-looking vision for clean and cost-effective flavor innovation. Join Us The CJ BIO team has already launched pre-event marketing efforts to attract food manufacturers, culinary developers, and industry stakeholders. Interested visitors can learn more through the CJ BIO website, or by following Instagram and LinkedIn for real-time updates. To schedule a meeting or learn more about CJ BIO's IFT 2025 participation, please visit CJ BIO is a business unit of CJ CheilJedang, a subsidiary of CJ Group, an international company founded in South Korea in 1953. CJ Group operates in the fields of Food & Food Service, Bio & Pharma, Entertainment & Media, and Retail & Logistics. CJ BIO is a leading global supplier of fermentation-based bio-products, including an extensive line of TasteNrich ®, FlavorNrich™, AMINATURE ®, and BiomeNrich™. CJ BIO has a global network of manufacturing facilities, specializing in microbial fermentation with the highest quality and control over their ingredients. With a strong foundation in fermentation, CJ BIO combines this expertise with its commitment to innovation, delivering cutting-edge solutions for the food and nutrition industries.
Korea Herald
23-06-2025
- Business
- Korea Herald
KEF chief awarded OSU's Henry G. Bennett Global Fellows honor
Sohn Kyung-shik, chair of CJ Group and the Korea Enterprises Federation, has won the Henry G. Bennett Global Fellows Award by Oklahoma State University in the US, in recognition of his leadership in business and cultural diplomacy, the KEF said Monday. Sohn is the second Korean to receive the prestigious award, following former Prime Minister Nam Duck-woo in 2005, and joins a distinguished list of past recipients including former British Prime Minister Tony Blair, former US Secretary of State Condoleezza Rice, former General Electric Chair and CEO Jack Welch, and Forbes Media Chair Steve Forbes. Named after the former OSU president, the award began in 2001 to honor leaders around the world who have addressed complex global issues from a wide range of fields, including academia, business, government and nonprofit sectors. 'This recognition is not only a personal milestone but also a moment of pride for CJ Group and the Republic of Korea," he said in his acceptance speech delivered at a ceremony hosted by OSU and the Alumni Association in Seoul on Saturday. The Republic of Korea is South Korea's official name. Sohn, who earned an MBA from OSU, reflected on the impact the university and the US had on his life and business career. 'It was (at OSU) that I gained not only academic knowledge but also unlocked the foundational principles of global management and expanded my horizon to embrace an international perspective," Sohn said at the ceremony. "My experiences in the United States became the launching pad for CJ Group's global endeavors and the spread of the Korean Wave." Under Sohn's leadership, CJ has played a key role in expanding Korean culture worldwide, through food brand Bibigo, K-pop, films and K-dramas, as well as in areas such as beauty, biotech and logistics. 'Just as Dr. Henry Bennett dedicated his life to fostering international education and cooperation, I have passionately committed myself to bridging borders through business and cultural exchange,' he said. Sohn, who also heads major business lobby KEF, said he is committed to helping Korean companies strengthen their global competitiveness and foster innovation and growth. 'This journey is not merely about economic success; it is about elevating Korea's soft power on the global stage and fulfilling our responsibilities as a member of the international community.'
Korea Herald
08-05-2025
- Business
- Korea Herald
CJ CheilJedang expands in Japan with new dumpling plant
South Korean food giant CJ CheilJedang announced Thursday that it is building a new factory in Japan to expand production of its dumpling products, part of a broader strategic push to tap into Japan's growing appetite for Korean cuisine. Backed by a 100 billion won ($71.5 million) investment, the facility, now under construction in Chiba prefecture, sits on a 42,000-square-meter site -- roughly the size of six soccer fields -- with a total floor area of 8,200 square meters. Scheduled to begin operations in September, the factory will primarily produce the company's flagship Bibigo dumplings bound for shelves throughout Japan. According to the company, it is targeting the country's frozen dumpling market, estimated to be worth about 1.1 trillion won annually. The move comes as CJ CheilJedang looks to ride the wave of Korean culture, which has expanded beyond K-pop and Korean dramas to encompass food and lifestyle. During his first overseas workplace visit of the year in April, CJ Group Chair Lee Jae-hyun called the current surge in Korean cultural influence 'a crucial opportunity for K-culture' to deepen its global presence, urging the company's food business to seize the momentum. The new facility is poised to boost Bibigo's production volume to a great extent while enhancing both the scale and quality of the company's operations in Japan. CJ CheilJedang currently operates four dumpling factories in Japan, following its 2019 acquisition of Japanese dumpling maker Gyoza Keikaku. 'By proactively building local infrastructure, we aim to harness the rekindled momentum of Korean culture and establish ourselves as a global food leader,' a company official said. Alongside its broader global expansion, the company is also extending its manufacturing network in key markets such as the US and Europe. Last November, CJ CheilJedang finalized plans for a new plant near Budapest, Hungary, slated to open in 2026. Meanwhile, construction is underway on an Asian food facility in South Dakota set for completion by 2027.
