CJ steps up Middle East push with chief’s UAE visit

CJ Group Chairman Lee Jae-hyun visited the United Arab Emirates last week, meeting senior government and industry figures to explore business cooperation and expansion opportunities in the Middle East, the group said Wednesday.

Lee met Khaldoon Al Mubarak, chairman of the Abu Dhabi Executive Affairs Authority and chief executive officer of sovereign wealth fund Mubadala, to discuss cooperation in cultural and economic fields. Al Mubarak led bilateral cooperation during the Korea-UAE summit and previously met Lee in the U.K. in September.

Lee also held talks with Mohamed Al Mubarak, chairman of the Department of Culture and Tourism Abu Dhabi, and Abdulla Al Hamed, chairman of the UAE National Media Office, on cooperation and business strategies in media, content, tourism and sports.

Through partnerships with government bodies and local media companies, CJ plans to host live events such as the Korean pop concert KCON, support content production and investment, and build global production infrastructure.

Lee met Gregory Yep, head of CJ Cheiljedang Corp.’s food business division, and local employees to discuss halal growth strategies. The group plans to build a halal food portfolio centered on the UAE and Saudi Arabia, expand into additional countries and product categories, and accelerate its Middle East Korean food business.

Lee said the group must seize Korean culture-driven opportunities in the high-potential Middle East market and create new growth engines through bold expansion into new territories.

The visit was Lee’s first trip to the Middle East in about a year, following a September visit last year at the official invitation of Saudi Arabia’s Ministry of Culture. The delegation included CJ Group Vice Chair Lee Mi-kyung, also known as Miky Lee, CJ Corp. CEO Kim Hong-ki, and CJ ENM Co. CEO Yoon Sang-hyun.

During the Korea-UAE summit last month, CJ Group signed a memorandum of understanding related to food and beauty businesses.

Following the visit, CJ plans to expand its Middle East business across food, entertainment and beauty.

CJ Cheiljedang plans to expand distribution of Middle East strategic products, including Bibigo gim snacks and stir-fried noodles, through cooperation with UAE company Al Khayyat Investments.

CJ Olive Young plans to expand its presence by leveraging the network of UAE healthcare distributor Life Healthcare Group.

CJ ENM will work with local broadcasters and content companies to host live concerts and discover local intellectual property through its Saudi-based subsidiary, CJ ENM Middle East.

On Tuesday in Seoul, Lee also met UAE Minister of Culture Salem bin Khalid Al Qassimi and UAE Ambassador to Korea Abdulla Saif Al Nuaimi. The talks covered cooperation on premium content production and investment, the use of artificial intelligence technologies, and Korean beauty exports.

By Pulse
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