CJ Group Recruiting Companies to Participate in 'Oproductus'

Utilizing CJ Infrastructure Such as Online and Offline Channels and Media Commerce
Supporting Market Expansion and Marketing Packages for SMEs
Top 11 Companies Selected Through In-Depth Evaluation

[Asia Economy Reporter Lee Seon-ae] CJ Group is conducting an open innovation program that actively supports small and medium-sized enterprises (SMEs) in developing sales channels and marketing packages for their products.

CJ Group announced on the 21st that it is recruiting companies wishing to participate in ‘Oproductus’ until March 9.

Started in 2018 and now in its third year, ‘Oproductus’ is CJ Group’s representative win-win innovation program that nurtures and supports SME products by actively utilizing CJ’s domestic and international distribution infrastructure. Through processes such as document screening, Selection Day, and MD interviews, the program evaluates companies from multiple angles including growth potential, product differentiation, and channel suitability, contributing to company growth by providing various resources.

The recruitment targets are manufacturing companies in fields such as food, beauty, lifestyle, fashion, and kids, established within 3 to 7 years. Applications can be submitted via the K-Startup website.

Companies that pass all stages of the Oproductus program’s document screening, Selection Day, and MD interview screening will receive support for test entry into CJ’s distribution channels. These companies can enter CJ O Shopping, Olive Young, and other outlets to check consumer response and sales. Especially, starting from this ‘Oproductus,’ CJ plans to strengthen mobile distribution channels in line with mobile distribution environment trends. Additionally, companies will receive support for producing drama-type videos, creator videos, and other content that can be used for their own marketing.

Through the ‘CJ Distribution Alliance Product Review Meeting’ called ‘Selection Day,’ opportunities will be provided to discuss marketability with MDs from each channel. Twenty products judged to have sufficient overseas market potential at ‘Selection Day’ will also have the chance to participate in ‘KCON,’ the world’s largest K-culture convention. This year, products will be showcased at ‘KCON 2020 LA’ held in Los Angeles, USA, in August. Thanks to the success of the movie ‘Parasite,’ global interest in the Korean Wave has increased, and a strong response is expected.

After test entry and overseas expansion support, the top 11 companies will be selected based on comprehensive evaluation of growth potential and performance. CJ Group will continue follow-up support for the selected companies, including CJ ENM broadcasting marketing and Olive Young online and offline special exhibitions.

Among the 79 companies that participated in last year’s ‘Oproductus’ and received test entry support, the top 11 companies achieved an average sales increase of 190% compared to the previous year. Beauty device company ‘Marsique’ received recognition for product competitiveness with its innovative product that solved the pain points of existing eyelash heat curlers and is planning to expand stores within the first half of this year following its entry into Olive Young.

In particular, beauty companies ‘Truezyme’ and ‘Uniqueme,’ which were showcased at ‘KCON 2019 Thailand,’ have been recognized for their overseas marketability and have been exporting to the United States, China, Japan, Vietnam, and other countries since last year. Additionally, pet product manufacturer ‘Biattic’ has achieved visible results such as attracting investments worth 1.5 billion KRW.

A CJ Group Win-Win Innovation Team official stated, “It is the role of large corporations to provide the resources and information SMEs need and to create a smooth business environment for mutual growth,” adding, “Through open innovation where CJ Group’s infrastructure and business capabilities meet the ideas and technologies of small startups to create synergy, we plan to continue contributing to their growth and ecosystem revitalization.”