Diversification Strategy through Market Creation: The Case of CJ Group

Jeong, Jaeseok,Kim, Nam Jung,Lim, Hyunjoo,Kang, Hyoung Goo,Moon, Junghoon Korean Marketing Association 2014 ASIA MARKETING JOURNAL Vol.15 No.4

The purpose of this paper is to investigate upon a diversification strategy through market creation of CJ Group, which has contributed in positioning of the firm as one of the leading conglomerates in South Korea. With such objective, the background of CJ Group, followed by its business diversification strategies were explored, with reference to several case studies. The history of CJ Group began with establishment of CheilJedang Industrial Corporation in 1953, as the first domestic sugar producer and exporter of South Korea. The corporation gradually expanded its business ever since at both national and global level, to include the fields of food production, pharmaceutical, biotechnology, and life chemicals. Later, CheilJedang (CJ) Group was established as an affiliate of CheilJedang Industrial Corporation. With such independence, extension of business has been witnessed across the industries of media, entertainment, finance, information technology and distribution. Thus, the current CJ Group pursues to define itself as a progressive global living culture company with four major business categories from food and food service, biotechnology, entertainment and media, and logistics. Despite its success in today's market, CJ Group underwent hardships in its business diversification in 1990s due to indiscreet management, along with the Asian financial crisis. Here, many firms overcame the financial difficulties by taking advantage of the exchange rate for overseas expansion. Though, CJ Group tried to differentiate itself by focusing on the domestic market by creating something out of nothing. Hence, CJ Group takes a unique position among many cases of business diversification and their categorization. In an effort to identify and classify the types of growth experienced by the top 30 companies in South Korea, the firms were categorized into four groups according to their diversification strategies adapted after the Asian financial crisis. Based on the mode and time of entry, corporations were identified either as the 'Explorer', 'Invader', 'Venture Capitalist', or 'Assimilator'. Here, the majority of the firms showed the qualities of Invader, entering mature markets through large-scaled mergers and acquisitions. However, CJ Group was the only firm that was categorized as an Explorer, for its focus on the newly emerging service sector in culture-contents industry. This diversification strategy through market creation is worth examining, due to its contribution in generating simultaneous growth between the market and the company itself. Diverse brands of CJ Group have been referred to as case studies in this regard, from 'Hatban', 'Cine de Chef', 'VIPS' to 'CJ GLS'. These four businesses, each to represent processed food, film, restaurant service, and logistics industries respectively, show CJ Group's effectiveness in creating a whole new category of goods and services that are innovative. In fact, such businesses not only contributed in advancement of consumers' wellbeing, but toward generating additional value and employment. It is true that the diversification strategy of CJ Group requires long-term capital investment with high risk, compared to the other strategies mentioned in the paper. However, this model does create high employment and additional values that are positive to both the society and the firm itself. Therefore, the paper comes to a conclusion that the diversification strategy through market creation conveys the most positive impact relative to the others.

CJ Bibigo`s Market Expansion Strategy

Jaeseok Jeong(정재석),Hyoung-Goo Kang(강형구),Junghoon Moon(문정훈) 한국경영학회 2014 Korea Business Review Vol.18 No.4

1953년에 설립된 CJ 그룹은 한국의 가장 성공적인 경영사례를 보여주는 대기업중 하나이다. CJ 그룹은 자사의 브랜드를 통해 한국의 문화를 세계로 전파하겠다는 목표를 바탕으로 성장하였다. 본래 설탕 산업을 주축으로 출범하였으나 창조형 사업 다각화 전략을 통해 현재는 식품·서비스, 신유통, 엔터테인먼트·미디어, 인프라와 생명공학에 이르기까지 다양한 분야에서 활동하고 있다. 현재 CJ 그룹은 생활과 문화를 세계로 전파하는 문화창조기업으로 도약하기 위해 글로벌 한식 브랜드 ‘비비고’를 운영중이다. 본 사례 연구에서는 글로벌 브랜드로서의 ‘비비고’에 대한 이해를 강화하며 한국 브랜드의 성공적인 세계 시장 개척요인을 탐구하고자 한다. CJ Group is one of the well-known conglomerates in South Korea. The company began operating in 1953 with a main goal of spreading Korean culture worldwide through its brand. Following its success in sugar industry, CJ Group expanded the company’s business divisions to include retail, biotechnology, food and food service, as well as logistics. Such “Creative Diversification Strategy” has been the key to its success. Based on the achievements, CJ now aims to spread culture as well as “life” via its brands, with “Bibigo” being an example. Bibigo is a franchise restaurant that offers authentic Korean food in a contemporary style. This case study aims to enhance readers’ understanding of Bibigo as a global brand, and explore various success factors in being one of the leading Korean brands in the world market.

Monitoring and Detection of SFTS virus mediated ticks in Andong in 2018

JaeSeok Lee,Myeonghwan Kim,Jong Bong Choi,HyunJi Lee,KyungHwan Moon,YeongHo Kim,Changhoe Jeong,Wook-Gyo Lee,Jongkyun Park,Young Ho Kim 한국응용곤충학회 2019 한국응용곤충학회 학술대회논문집 Vol.2019 No.04

We monitored the population of Haemaphysalis longicornis, in Andong, Gyungbuk from April to November, 2018. Among total 2,994 ticks collected for 8 months, H. longicornis 1,677(56%), H. spp Larva 1,074(35.9%), H. flava 213(7.1%), Ixodes nipponensis 30(1.0%) were identified. In addition, considering the environment, 1,727(57.7%), 907(30.3%), 192(6.4%) and 168(5.6%) ticks were collected in the grassland, graves, copse, mountain path, respectively. In the pathogen diagnosis with PCR using SFTS virus specific primers, positive viruses were detected in H. longicornis, H. flava and H. spp from June to October. The minimum field infection rate of June, July, August, September and October were 0.4%, 0.8%, 1.2%, 0.8% and 2.3%. respectively.

Desensitization Using Bortezomib and High-dose Immunoglobulin Increases Rate of Deceased Donor Kidney Transplantation

Jeong, Jong Cheol,Jambaldorj, Enkthuya,Kwon, Hyuk Yong,Kim, Myung-Gyu,Im, Hye Jin,Jeon, Hee Jung,In, Ji Won,Han, Miyeun,Koo, Tai Yeon,Chung, Junho,Song, Eun Young,Ahn, Curie,Yang, Jaeseok Wolters Kluwer Health, Inc. All rights reserved. 2016 Medicine Vol.95 No.5

ABSTRACT: Combination therapy of intravenous immunoglobulin (IVIG) and rituximab showed a good transplant rate in highly sensitized wait-listed patients for deceased donor kidney transplantation (DDKT), but carried the risk of antibody-mediated rejection. The authors investigated the impact of a new combination therapy of bortezomib, IVIG, and rituximab on transplantation rate.This study was a prospective, open-labeled clinical trial. The desensitization regimen consisted of 2 doses of IVIG (2 g/kg), a single dose of rituximab (375 mg/m), and 4 doses of bortezomib (1.3 mg/m). The transplant rate was analyzed. Anti-Human leukocyte antigen (HLA) DRB antibodies were determined by a Luminex solid-phase bead assay at baseline and after 2, 3, and 6 months in the desensitized patients.There were 19 highly sensitized patients who received desensitization and 17 patients in the control group. Baseline values of class I and II panel reactive antibody (%, peak mean fluorescence intensity) were 83 ± 16.0 (14952 ± 5820) and 63 ± 36.0 (10321 ± 7421), respectively. Deceased donor kidney transplantation was successfully performed in 8 patients (42.1%) in the desensitization group versus 4 (23.5%) in the control group. Multivariate time-varying covariate Cox regression analysis showed that desensitization increased the probability of DDKT (hazard ratio, 46.895; 95% confidence interval, 3.468–634.132; P = 0.004). Desensitization decreased mean fluorescence intensity values of class I panel reactive antibody by 15.5% (20.8%) at 2 months. In addition, a liberal mismatch strategy in post hoc analysis increased the benefit of desensitization in donor-specific antibody reduction. Desensitization was well tolerated, and acute rejection occurred only in the control group.In conclusion, a desensitization protocol using bortezomib, high-dose IVIG, and rituximab increased the DDKT rate in highly sensitized, wait-listed patients.

Reliability Assessment and Outage Cost of the Korean Power System Using the Probabilistic Simulation Considering Natural Disaster

Jeong Semin,Oh Ungjin,Choi Jaeseok,Nakanishi Yosuke 대한전기학회 2022 Journal of Electrical Engineering & Technology Vol.17 No.1

This paper evaluates the reliability and outage cost of the Korean power system considering the natural disaster incident in the Gyeongju and Yeonggwang areas. It includes the probabilistic reliability assessment simulation of an equivalent power system model. Loss of load expectation (LOLE) and expected energy not served (EENS) are analyzed through the daily and monthly variation of the forced outage rate (FOR) of the modeled generator of Gyeongju and Yeonggwang areas. A generator equation with the increased FOR is proposed, including variation in the failure rate. LOLE, EENS and outage cost indices considering proposed modifi ed FOR quantify the reduction in the reliability an outage cost of the Korean power system due to such a natural disaster. Comparing two area’s results, it is present how much of the reliability has been decreased and how much the cost has been increased.

Monitoring and detection of severe fever with thrombocytopenia syndrome (SFTS) virus mediated ticks in Andong area in 2018

JaeSeok Lee,Myeonghwan Kim,Jong Bong Choi,HyunJi Lee,YoungHo Kim,KyungHwan Moon,Changhoe Jeong,Wook-Gyo Lee,Young Ho Kim,Jongkyun Park 한국응용곤충학회 2018 한국응용곤충학회 학술대회논문집 Vol.2018 No.10

Heamaphysalis longicornis is a major vector for Severe Fever with Thrombocytopenia Syndrome (SFTS) virus and the density of the vector has been increasing because of the climate change. The incidence of fatalities due to SFTS is increasing every year. In this study, to evaluate the SFTS transmission by ticks, the density of ticks mediating SFTS was monitored. Tick was collected every month from four different sites (Grass land, Mountain path, Grave, Copse) in Andong with the traps containing dry ice as CO2 attractants. Among 2,572 ticks of 3 species; H. longicornis, H. flava, and Ixodes nipponensis were most abundantly collected from April to August. H. longicornis is the richest species (92.8%), whereas Ixodes nipponensis was the least species (0.8%). The 54.5% of the sample were nymph stage and female/male ratio was 64.3%. According to the pathogene analysis, SFTS virus was detected from H. longicornis adult and larvae stages collected in July and August. In July samples, SFTS virus was detected only from grassland site, but the virus was observed in the sample from all four sites in August. For effective prevention of SFTS, the tick density should be continuously monitored based on the onset time of SFTS with the consideration of habitate, habit & life history of ticks.

Monitoring and detection of severe fever with thrombocytopenia syndrome (SFTS) virus mediated ticks in Andong area in 2018

JaeSeok Lee,Myeonghwan Kim,Jong Bong Choi,HyunJi Lee,YoungHo Kim,KyungHwan Moon,Changhoe Jeong,Wook-Gyo Lee,Young Ho Kim,Jongkyun Park 한국농약과학회 2018 한국농약과학회 학술발표대회 논문집 Vol.2018 No.10

Measurement of Exposure dose to Human Model for Decommissioning of Nuclear Facilities

KwanSeong Jeong,JeiKwon Moon,ByungSeon Choi,Dongjun Hyun,JongHwan Lee,IkJune Kim,GeunHo Kim,JaeSeok Seo 한국방사성폐기물학회 2014 한국방사성폐기물학회 학술논문요약집 Vol.12 No.2

재난으로부터의 계통 복구력의 개념

최재석(Jaeseok Choi),오웅진(Ungjin Oh),정세민(Semin Jeong) 대한전기학회 2020 전기의 세계 Vol.69 No.8

본 기고문에서는 근래 주목을 받고 있는 복구력(Resiliency)에 대한 정의와 특성을 살펴보았다. 이는 천년에 한번, 만년에 한번, 억년에 한번 발생하는 사고에 대한 사건이다. 그러나 그 한 번의 사고가 인류의 생존을 위협하는 사고로부터 시스템의 회복력이다. 이는(혹은) 복원력이라고도 불리 울 수 있다. 복구력의 함수는 사건주기가 매우 길어서 데이터베이스(D/B)의 구축이 불가능하다. 이런 점에서 복구력은 데이터베이스가 가능하여 예측이 가능한 신뢰도와 대비되며 여전히 신뢰도와의 상관성 그리고 차별성 등에 관하여 세계적으로 논란이 발생하고 있다. 따라서 본 기고문에서는 먼저 신뢰도의 기본 함수들을 먼저 살펴보았다. 비록 그 발생 주기가 길어서 미래의 예측은 어렵지만 특성을 분석함으로써 아직 발생한 적이 없는 그러나 인류의 생존을 위협하는 사건에 대하여 대처하는 대비 시스템의 개발이나 적응성을 높일 수 있을 것으로 기대 할 수 있으므로 이에 대한 연구는 중요하다. 차후에는 최근 발생한 COVID-19의 데이터를 사용하여 방역시스템의 복구력 함수 등을 개발하고 이들의 특성을 분석할 예정이다.

Measurement of Exposure dose to Human Model for Decommissioning of Nuclear Facilities

KwanSeong Jeong,JeiKwon Moon,ByungSeon Choi,Dongjun Hyun,JongHwan Lee,IkJune Kim,GeunHo Kim,JaeSeok Seo 한국방사성폐기물학회 2014 한국방사성폐기물학회 학술논문요약집 Vol.12 No.1