We maintain a Buy rating and TP of W600,000 on CJCJ, noting that 2021 is to mark the first full year of collaboration with Schwan’s Company. Going forward, its Bibigo dumplings should become available in over 50% of mainstream US retail stores, given CJCJ’s ongoing signing of new contracts with large-scale distributors, starting with Target and Walmart.

South Korean genome sequencing firm Eone Diagnomics Genome Center (EDGC) and one of the country’s largest food manufacturers, CJ CheilJedang, will co-produce “genetically proven” health foods. EDGC’s co-CEO Lee Min-seob and Hwang Yoon-il from CJ’s research and development planning division signed the deal on Nov. 12 to produce foods that can be personally customized based on EDGC’s genetic big data. Hwang said CJ chose EDGC because “they have the capacity that enables us to improve our services for consumers’ health and lifestyles.”

CJ Cheiljedang Corp. said Tuesday that its net profit skyrocketed over tenfold in the third quarter from a year earlier, as its overseas sales rose sharply amid the COVID-19 pandemic. Net sales spiked to 189.2 billion won (US$169.7 million) in the July-September period on a consolidated basis, sharply up from a profit of 17 billion won a year earlier.

Samsung Technology & Advanced Research (STAR) Labs signed a memorandum of understanding with CJ Olivenetworks, a specialized ICT enterprise, to cooperate in a Neon project led by STAR Labs CEO Pranav Mistry, a human-computer interaction researcher. With Neon, CJ Olivenetworks, a unit of South Korea’s CJ Group, aims to proactively respond to fast-changing media content industries. The first area of cooperation will be the selection of a virtual influencer to create new types of content.

South Korea’s largest internet portal Naver Corp. and logistics and entertainment conglomerate CJ Group have signed a $531 million share-swap deal in a strategic tie-up to create synergy in their entertainment content and logistics businesses. Under the deal signed on Oct. 26, Naver will acquire a 7.85% stake in CJ Logistics Corp, 4.99% of CJ ENM Co. and 6.26% of Studio Dragon Corp., the drama producing arm of CJ Group. In return, CJ will take over 1.24% of Naver worth $531 million.

In 2021, THE CJ CUP will return to Korea, at Haesley Nine Bridges near Seoul, giving CJ Group the opportunity to further support the growth of golf in Korea. “Next year, we will do our best to promote the Republic of Korea to the world once again in the metropolitan area and further raise the stature of THE CJ CUP,” Ethan Kim, Sports Marketing Director, CJ Group, said in an announcement.

For the past three years, the CJ Cup has been staged at the Club at Nine Bridges on Jeju Island, one of Asia’s premier layouts, so when the tourney was moved, a key consideration was to keep the course pedigree sky high. Shadow Creek, a Tom Fazio dreamscape that was the site of The Match, the made-for-TV showdown between Tiger Woods and Phil Mickelson in 2018, fit the bill.

THE CJ CUP @ NINE BRIDGES will be THE CJ CUP @ SHADOW CREEK this year as it moves to Las Vegas, Nevada, October 15-18. “While our players have always looked forward to visiting Korea, the current circumstances provided this new opportunity to bring the event to Las Vegas which will also provide brand exposure and awareness to the viewing audience in the United States and around the globe.”

South Korea’s CJ CheilJedang Corp. enjoyed a stay-at-home boon from virus outbreak, reaping the best-ever quarterly earnings in the second quarter on surge in demand for ready meals at home and abroad. The food giant disclosed Tuesday that it recorded 384.9 billion won ($324.7 million) in consolidated operating income for the second quarter ended June 30, up 39.5 percent from the first quarter and 119.5 percent from a year earlier.

Defending champion Brooks Koepka has confirmed he will defend his title at THE CJ CUP @ NINE BRIDGES, the only PGA TOUR staged in South Korea, in October. Tournament title sponsor, CJ Group, announced the American star, who is a six-time PGA TOUR winner, will tee up for the tournament’s third edition at The Club at Nine Bridges in Jeju island from October 17 to 20. CJ Group is looking forward to welcoming Koepka back and said further announcements on the field will be made. It is also planning to greatly enhance the tournament experience for golf fans to experience world-class golf in South Korea.