Seoul: CJ Group Chairman Lee Jay-hyun has met with U.S. business leaders to discuss business opportunities in the food and cultural sectors during a business roundtable, his company said Tuesday, underscoring his commitment to strengthening U.S. business and investment. As a member of a business delegation accompanying President Lee Jae Myung, the group chairman attended the business event in Washington on Monday (U.S. time), held after summit talks between President Lee and U.S. President Donald Trump.
According to Yonhap News Agency, Chairman Lee held discussions with Nvidia Corp. Chief Executive Officer (CEO) Jensen Huang, Motion Picture Association CEO Charles Rivkin, and other U.S. business leaders. His U.S. trip came as CJ Group, a food and entertainment conglomerate, continues to expand its food, content, and logistics operations in the United States, with a combined investment of US$832 million.
In the food sector, Schwan's Company, CJ Cheiljedang Corp.'s U.S. subsidiary, is investing $550 million to build a food factory in South Dakota by 2027. CJ Foodville, which runs the bakery brand Tous Les Jours, plans to invest 70 billion won ($50.2 million) to build a bread factory in Georgia and expand its outlets across the U.S. CJ Logistics Corp. has opened a new logistics center in Illinois and plans to make an additional $228 million investment to establish two more centers in Chicago and New York, respectively.
Since first entering the U.S. market in 1978, CJ Group has invested a cumulative 8 trillion won and now employs about 12,000 people across its seven affiliates that also include CJ ENM Co., CJ CGV, and CJ Foodville. CJ Cheiljedang posted 4.7 trillion won in sales in the U.S. last year. Its entertainment unit, CJ ENM, acquired a global production studio, Endeavor Content, in 2022 and changed the name to Fifth Season.