Sales Increased 52 Times…Announcement of Accelerated Global Expansion
(Seoul = Yonhap News) Reporter Kim Kyung-hee = On the occasion of its 30th anniversary, CJ OliveNetworks announced on the 21st its aim to become a top 5 AI transformation (AX) company in South Korea by 2030.
Established in 1995, CJ OliveNetworks has provided IT services in the lifestyle and culture sector, supporting steady growth through affiliate system operations. Initially having a revenue of 14 billion won, the company recorded a revenue of 727.7 billion won last year, marking an approximately 52-fold growth.
The company started with about 150 engineers and expanded to around 880 by 2015, currently employing around 1,500 people. The company emphasized that it has maintained profitable management for over 20 years since 2001, with operating profit increasing to 57.4 billion won as of last year.
CJ OliveNetworks plans to enhance its IT expertise and accelerate growth, focusing on CJ Group’s four main business sectors (food, bio, logistics and distribution, and entertainment and media), continuously strengthening AI, big data, and cloud capabilities.
In the smart manufacturing and logistics business, the company has secured over 100 clients across various industries, including food, beverages, and bio. It has also been recognized for its expertise by securing large projects, such as the construction of Hite Jinro’s global production plant, alongside domestic projects like Hwayo and OB Beer.
The broadcasting and media sector has seen continued growth, handling accumulated projects worth 300 billion won over the past five years, and it now supports specialized broadcasting services, such as virtual studio setups and large concerts and e-sports events.
The company aims to increase its non-group revenue ratio from 32% last year to 43% by 2028, diversifying its business portfolio to enhance corporate value. It is also accelerating global expansion, building on operational experiences in China and Vietnam, while expanding into markets such as the United States.
CEO Yoo In-sang stated, “Celebrating our 30th anniversary, CJ OliveNetworks is shifting from stable growth to embracing a culture of challenge and innovation,” and encouraged, “Let us create a new future together, fostering a fearless organizational culture and the courage of members to take on new challenges.”
kyunghee@yna.co.kr