CJ CheilJedang Ranks 1st Among 8 Food Companies
8,470 Regular Employees... Average Annual Salary 76 Million KRW
3 Companies Including Lotte Confectionery Have Over 10 Years of Service
"Overseas Training & Remote Work"… Expansion of Welfare Programs
Among food companies that recorded sales of over 3 trillion won last year, CJ CheilJedang was found to have the highest average annual salary for employees.
According to the Financial Supervisory Service's electronic disclosure system on the 22nd, the average annual salary of 8,470 regular employees at CJ CheilJedang was 76 million won, the highest among the so-called '3 trillion club' companies in the food industry. This is a 1.3% increase compared to the same period last year (75 million won).
The number of food companies with annual sales exceeding 3 trillion won last year doubled compared to the previous year, totaling eight companies. Nongshim, Lotte Confectionery, and SPC Samlip surpassed 3 trillion won in annual sales, and Ottogi also exceeded 3 trillion won for the first time in its 53-year history last year. Previously, CJ CheilJedang, Dongwon F&B, Daesang, and Hyundai Green Food were included in this group.
Among the 3 trillion club, Nongshim had the second highest average annual salary after CJ CheilJedang, with 56.86 million won. Nongshim's number of regular employees was 5,198, and the average annual salary increased by about 10% compared to the previous year (51.14 million won). In addition, Daesang and Lotte Confectionery recorded average annual salaries of 54 million won and 52.11 million won per person, respectively, both exceeding 50 million won. Next were SPC Samlip (49.06 million won), Ottogi and Dongwon F&B (43 million won), and Hyundai Green Food (41 million won).
Food companies generally have a higher proportion of sales and production workers with relatively fewer years of service, resulting in lower average salaries compared to other industries. The industry is also known for frequent job changes, which leads to shorter average tenure compared to other sectors. Average annual salary typically increases as employees' length of service grows. Among the 3 trillion club, only three companies had an average employee tenure exceeding 10 years: Lotte Confectionery (12 years 4 months), Nongshim (11 years 1 month), and Daesang (10 years 9 months). Following them were Ottogi (9 years 3 months), Dongwon F&B (8 years 8 months), CJ CheilJedang (7 years 1 month), Hyundai Green Food (6 years 4 months), and SPC Samlip (5 years 9 months).
In addition to wages, the importance of 'work-life balance' (WLB), especially among the MZ generation (Millennials + Generation Z), has emerged, leading many distribution companies to operate welfare systems favored by employees. Companies expanding hiring for socially marginalized groups are also notable. CJ CheilJedang emphasizes 'DEI (Diversity, Equity, Inclusion)' and is leading efforts to establish an organizational culture that guarantees equal opportunities. The company strives to prevent discrimination based on nationality, race, gender, or educational background in hiring, promotion, and other work processes. Various systems supporting smooth pregnancy, childbirth, and childcare for female employees are also in place. Additionally, CJ CheilJedang actively ensures employees' work-life balance through systems such as flexible working hours, regular telecommuting, and establishing satellite offices.
Nongshim runs a global talent development program every year to nurture future talents with global sensibility and management mindset. The program includes language courses, management knowledge acquisition, and overseas training. Besides the talent development program, support is provided for foreign language learning, reading, and online/offline lectures.
Ottogi recently hired all employees of its subsidiary-type standard workplace for people with disabilities, 'Ottogi Friends,' as regular employees. Ottogi Friends employed 20 disabled workers (as of the end of last year) all as regular employees. In November 2021, Ottogi signed an agreement with the Korea Employment Agency for the Disabled to guarantee the right to work and expand employment for people with disabilities and established Ottogi Friends. These workers were assigned to packaging tasks for Ottogi's planned products, and by the end of last year, the total number of planned products produced by Ottogi Friends reached approximately 118,000.
Professor Seo Yong-gu of the Department of Business Administration at Sookmyung Women's University said, "Young people nowadays tend to pursue 'Worabl,' a concept that blends work and daily life, going beyond work-life balance." He added, "If food companies expand welfare systems that align with trends such as workation and achieve external growth through active overseas expansion, they could see significant increases in salary growth rates."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
