As the Korea Fair Trade Commission investigates CJ CheilJedang on suspicion of colluding to fix flour prices, CEO Yoon Seok-hwan apologized before shareholders.
On the morning of the 24th at CJ Human Resources Center in Jung-gu, Seoul, CEO Yoon said at the "19th regular general meeting of shareholders," "I deeply apologize for the concern caused recently in connection with the company." The remarks were delivered by Yoon on behalf of CEO Sohn Kyung-shik of CJ CheilJedang as a read statement.
Yoon said, "Taking this as an opportunity, we will completely root out past wrongful practices and rebuild the company's systems and culture from the ground up," adding, "We will also implement strong measures to prevent a recurrence."
However, when asked by reporters about specific measures to prevent a recurrence, Yoon answered only, "Under internal review."
Meanwhile, at the shareholders' meeting, Yoon said, "CJ CheilJedang will make 2026 the first year of growth and innovation to leap forward as a truly 'global top-tier' corporations," adding, "We will accelerate the growth of global strategic products (GSP) based on the global spread trend of K-food."
He went on to say, "We are accelerating expansion into Europe and new territories and building mid- to long-term growth engines," adding, "In the bio business, we have continued to strengthen cost competitiveness for key products and improved cash flow by reducing working capital and enhancing investment efficiency."
Regarding the food business, he said, "In the domestic market, we will strengthen digital marketing and expand growth channels such as online, CVS and warehouse-type stores," adding, "In the global market, we will accelerate growth through region-specific strategies."
On the bio business, Yoon said, "We will lay the groundwork for a renewed leap by improving the structure and efficiency of the feed amino acids business and building new business models," adding, "We will also continue to pursue cost reductions through business efficiency and AI and automation."
Regarding financial strategy, he said, "CJ CheilJedang will enhance cash generation and strengthen its financial structure through selection and concentration, including profitability-focused portfolio rebalancing and the liquidation of non-core asset," adding, "Based on this, we will expand corporate value through the creation of financial performance and the advancement of the mid- to long-term business portfolio."
At the shareholders' meeting, major agenda items, including ◇ the appointment of CEO Yoon Seok-hwan as inside director, ◇ approval of the financial statements for the 19th term, ◇ amendments to the articles of incorporation, ◇ appointment of outside directors and ◇ approval of the limit on directors' remuneration, were all passed as originally proposed.