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Korean billionaire Lee Jay-Hyun has been chairman of CJ Group since March 2002. It consists of four main core businesses: Food & Food Service, Bio Pharmaceutics, Entertainment Media, and Home Shopping & Logistics.
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In September 2007, CJ Co., Ltd again spun off as a business holding company renaming to 'CJ CheilJedang Co., Ltd' and CJ Group became a holding company for a number of food and entertainment-related subsidiaries based in South Korea. In October 2002, CJ Group was launched and the official name of the company changed to 'CJ Co., Ltd'. In addition, CJ opened VIPS, a family restaurant chain, in 1997, and launched South Korea's first multiplex theater, CGV, in 1998. Since then, CJ has entered into the fields of media, entertainment, finance and information & communication businesses mainly through M&As of companies such as m.net, a music cable channel, and Cheil Investment & Securities in 1997, and establishments of new subsidiaries such as Cheil Golden Village (currently CGV) in 1996, Dreamline (which was sold off in 2000), jointly with Korea Expressway in 1997, in 1998, CJ O Shopping, CJ Europe and CJ FD (standing for food distribution) in 1999. In 1996 it became 'Cheil Jedang Group' and completed its official separation from Samsung Group in February 1997. In July 1993, Cheil Jedang spun off from Samsung and gained independent management, changing into a life and culture group by entering into the food service and entertainment industries. However, it continued to develop new food products such as 'Condition', a supplemental drink that alleviates hangover symptoms, in 1992 and 'Hetbahn', an aseptic packaged rice, in 1996. In the 1990s, CJ went through periods of conversion and growth as it transitioned into the area of life and culture from focusing on the food and pharmaceutical industry. With the establishment of Cheil Jedang Indonesia in 1988 and the construction of a lysine and synthetic seasoning plant in Indonesia in 1990, CJ started reaching markets outside South Korea. It established Cheil Frozen Food and launched its beverage business in 1987. as a joint venture project In 1986 CJ's Biotechnology & Pharmaceutics division succeeded in becoming the third in the world to develop Alpha-interferon, an anticancer medicine, as well as launching 'Hepaccine-B', a hepatitis vaccine.
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In 1984, CJ established ETI, a local subsidiary, in New Jersey, U.S. In the 1980s, CJ expanded to processed food items such as beverages and frozen foods, and entered the pharmaceutical business based on new advanced technologies. In 1979, the company was renamed 'Cheil Jedang Corp.' and started producing cooking oil under Beksul. In 1975, CJ developed mass-production techniques for "Dashida", a seasoning product, as well as technology for the mass-production of nucleic acids for the first time in South Korea in 1977, launching first market its first nucleic acid seasoning, "Imi". In 1973 CJ entered into the feed business, launching 'Pungnyeon Feed'. In the 1970s, CJ continued its growth as a composite food company. The company entered into the artificial seasoning market in 1963 with Mipoong, competing against Miwon, the then-best-seller by Daesang. In 1965, Cheil Jedang's sugar business was branded as 'Beksul'. In 1955, it opened the first flour mill in South Korea and in 1962, started exporting sugar to Okinawa, Japan. 1.4.1.2 Biotechnology and pharmaceuticsĬJ was founded as 'Cheil Jedang' in August 1955 as a sugar and flour manufacturer and was originally part of Samsung Group, as its first manufacturing business.