ID :
194422
Tue, 07/12/2011 - 08:25
Auther :
Shortlink :
https://oananews.org//node/194422
The shortlink copeid
CJ Cheiljedang targeting sales of 15 tln won in 2015
SEOUL, July 12 (Yonhap) -- CJ Cheiljedang Corp., South Korea's leading food manufacturer, said Tuesday that it will seek to more than triple its sales by 2015 by transforming into a new material-producing company.
CJ Cheiljedang said that it is targeting 15 trillion won (US$14 billion) in sales in 2020, up from its 2010 sales of 3.96 trillion won.
CJ Cheiljedang said that it will focus on biotechnology, expecting to record 3 trillion won in sales in 2020. It will produce methionin, an amino acid for animal feed, as the material's global market is estimated to be worth $4 billion, the company said.
CJ Cheiljedang's biotechnology line registered 1.1 trillion won in overseas sales in 2010.
In food business, its sales will reach 500 billion won this year on growing demand for Korean food, underpinned by its localization efforts and the so-called Korean Wave, a Korean pop culture boom in Asia that is extending around the world.
CJ Cheiljedang said that it is targeting 15 trillion won (US$14 billion) in sales in 2020, up from its 2010 sales of 3.96 trillion won.
CJ Cheiljedang said that it will focus on biotechnology, expecting to record 3 trillion won in sales in 2020. It will produce methionin, an amino acid for animal feed, as the material's global market is estimated to be worth $4 billion, the company said.
CJ Cheiljedang's biotechnology line registered 1.1 trillion won in overseas sales in 2010.
In food business, its sales will reach 500 billion won this year on growing demand for Korean food, underpinned by its localization efforts and the so-called Korean Wave, a Korean pop culture boom in Asia that is extending around the world.
