Interview with Hong Jung-wook, Head of Marketing Division at CJ CheilJedang
Growth Focused on Core Brands 'Bibigo, Hetbahn, and Gourmet'
Leading the Market with Products Based on Thorough Trend Analysis
Will Present Differentiated Products Based on R&D and Manufacturing Capabilities
"A taste that never fails, the convenience of always providing a rich table instantly. I believe this is the key factor why consumers recognize CJ CheilJedang's Home Meal Replacement (HMR) products."
Jungwook Hong, Head of Marketing Division at CJ CheilJedang
On the 31st, Hong Jung-wook, Head of Marketing Division at CJ CheilJedang, defined CJ CheilJedang's HMR as "a reliable supporter of a delicious table anytime" in an interview with Asia Economy. He emphasized that CJ CheilJedang's competitiveness and the background of its achievements lie in consistently offering products guaranteed to deliver the best taste and nutrition as a dependable supporter of the dining table for consumers who lack time to cook due to busy daily lives and feel burdened by soaring ingredient prices.
CJ CheilJedang is expanding its HMR business centered on three brands: Bibigo, Hetbahn, and Gourmet. Bibigo has established itself as a representative global K-food brand by leading with various categories of Korean food products such as dumplings, soups, kimchi, packaged side dishes, and grilled fish, growing into a mega brand with annual sales of 3 trillion KRW. Hetbahn has also risen as a national brand by leading the growth and development of the domestic packaged rice market. Additionally, Gourmet, which covers all menus beyond Korean food, has secured its position as a major brand by hitting the mark with the convenience of enjoying restaurant menus at home.
Mr. Hong evaluated that the continuous growth is based on thoroughly analyzing domestic and international environmental changes and consumer patterns from the planning stage and reflecting these insights in product launches. He explained, "A professional organization called Market Intelligence analyzes market and consumer trends using traditional consumer research methods combined with new technologies such as big data, AI, and machine learning, and reflects these in new product planning together with various value chains." He added, "There is also a process led by a new product development expert team that rechecks and makes decisions to ensure the product’s value is well communicated to the target consumers, focusing on consumer value."
CJ CheilJedang also announces Korea-specific food culture trends every year. The food culture keywords for this year, revealed through analysis of over 20,000 consumers, are summarized as ‘J.U.M.P’: ▲Joyful (the pleasure of gourmet food) ▲Useful (practical home-cooked meals) ▲Meaningful (value consumption) ▲Pairing (food pairing). Mr. Hong explained, "Due to the inflation continuing since last year, there is a tendency to pursue minimal consumption necessary according to one’s preferences and values, which is expected to influence food culture trends as well."
Reflecting these trends, CJ CheilJedang plans to focus on health and nutrition foods based on new wellness in the mid to long term. Mr. Hong stated, "Although consumer sentiment is shrinking due to the recent economic downturn, health-oriented eating habits are expanding, and interest in sustainability is increasing, leading to growth in related products. We plan to prepare and expand a ‘Health and Wellness’ portfolio including low-sugar and high-protein products according to consumer demand." Regarding the somewhat contracted HMR market due to the recent endemic, he forecasted, "In the second half of the year, due to factors such as rising prices, demand for eating at home will increase, providing another opportunity for the HMR market."
CJ CheilJedang plans to continuously expand its HMR business based on the achievements of its core brands. Domestically, it aims to create new food culture trends through leading product development, and on the global stage, it is determined to build competitiveness that can stand shoulder to shoulder with global companies by leveraging innovative technology and R&D-based products. Mr. Hong explained, "Based on Chairman Lee Jae-hyun’s management philosophy of ‘creating future food that can be envisioned 10 or 20 years ahead,’ we will spare no investment in the HMR business and focus on strengthening R&D differentiation, innovative manufacturing technology, and advanced packaging competitiveness to leap forward as a global HMR leading company."
To this end, CJ CheilJedang plans to accelerate the development of differentiated HMR products that will change the future food market landscape based on its R&D and manufacturing capabilities. It intends to develop new technologies and strengthen business competitiveness through proactive investment. In particular, it plans to continuously nurture Bibigo, Hetbahn, and Gourmet as core HMR brands to expand the convenience of home meals domestically and the home-style dining of restaurant meals. Furthermore, leveraging the accumulated HMR technology and brand influence in Korea, it will significantly expand Bibigo products to accelerate the spread of ‘food culture globalization.’
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