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CJ-Shinsegae-SPC-Nongshim … Call for Retail Food Companies



[트럼프 방한]

All in the local market – investment in progress … Trump encourages investment by encouraging
On October 30, US President Donald Trump attended a meeting with home entrepreneurs, including Samsung, Hyundai Motor, SK, LG and Lotte, as well as a number of business people. CJ and Shinsegae as well as the participation of distributors and food entrepreneurs such as President Huh Young-in SPC, Vice-President Jun-sik Park and Vice-President Park In-Koo from Dongwon Group.

Something unusual list on the day is Trump's encouraging message to companies investing in the US and signaling additional investment. All invited companies are either in the US or have been established or are in the process of investing. The US embassy in Seoul allegedly sent a list of major US companies to the White House.

Last year, CJ Cheiljedang invested $ 2 trillion in investment and bought Schwans Company, an American frozen food specialist. CJ Cheiljedang, the market leader in the United States, established a subsidiary in New Jersey last year, after California and New York. Shinsegae also accelerates in the US market. In December last year, the company purchased Good Food Holdings, a local distributor in the US, for 307.5 billion. In the second half of this year, "PK Market" will open in Los Angeles, (provisional name). Nongshim plans to establish additional manufacturing facilities in the US after the eastern part of the United States, as US sales increase. The number of US stores operated by SPC continues to grow. The Dongwon Group is managed by StarKista in 2008, which is the number one in the canned tuna market in the United States.

In the business world, President Trumpa's intentions to boost US investments invoke a large number of companies, except the size of the company. In response, some companies said they would invest more in the US shortly after the meeting. Son of Kyung-sik Chairman of the CJ Group said after the meeting: "We will put additional $ 1 billion (about 1.15 trillion zone) into the US food and distribution company," he adds, "We are considering plans to build a factory in the US, say SPC Group has announced plans to increase its trunk luggage in Paris from 78 to 2,000 by 2030, creating around 60,000 jobs.

Kang Seung-hyun, reporter byhuman@donga.com

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