South Korea’s CJ Group vowed to actively pursue new strategic mergers and acquisitions in 2017 to strengthen its core businesses and to boost their global competitiveness.

“Despite the continued economic downturn and unstable market conditions, I ask all our employees to make this a historic year in the future growth of the company,” said CJ Group Chairman Sohn Kyoung-shik. 

Sohn urged CJ to pursue strategic M&A’s to expand its main businesses -- food, biotechnology, retail and entertainment -- and to break into new, emerging markets that can drive new growth.

CJ’s business units should also strive to become the No. 1 player in their respective fields, as well as adopt a culture of aiming for the best, Sohn said.

Urging employees to help the group “go beyond the ‘Great CJ’ to become the ‘World Best CJ,’” Sohn pledged to take the lead in steering the group toward this direction.

CJ is hoping to build upon its 2016 achievements, including CJ CheilJedang’s expansion into the home meal replacement food market and driving up exports.

Last year, CJ Korea Express also began constructing the Konjiam Terminal while CJ E&M led various TV programs and dramas to success including “Three Meals a Day, “Signal” and “Another Oh Hae Young,” the group said.

By Sohn Ji-young (jys@heraldcorp.com)