Strategies
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Strategies

CJ CheilJedang is committed to creating integrated values from economic, environmental and social perspectives for sustainable growth and fulfilling its social responsibilities.

CJ CheilJedang’s Goals

CJ CheilJedang pursues core shared values of ‘Health and Safety’ and ‘Sustainable Environment’ across the overall business management activities to achieve the virtuous circle of ‘Nature to Nature’.

VISION : Global No.1 Food & BIO Company > To-be : Sustainability Management System - 'Nature to Nature'Cycle To establish a virtuous circle to obtain resources from nature, provide food to consumers, and return resources to nature > Health and Safety (Nature to Table) : Production Food Safety ( Jeulgeoun Donghang (Happy Companion), Zero-dust, zero-microplastics ) , Raw Materials Biodiversity ( Rural development projects in Vietnam, Alternative Renewable resources project ), Consumption Nutrition ( Customized nutrition enhancement business , Materials as alternatives to antibiotics ), Disposal Zero-Waste( Establishment of the system for recycling and reducing the disposal of food products) - Sustainable Environment Nature to Nature > Consumption Biodiversity (Eco-friendly biomaterials as alternatives to chemicals, Eco-friendly feed additive business, Agricultural materials ) >Core Shared Values : Health and Safety > Major Area : Food Safety & Nutrition > Fundamental Factor : Sustainable Environment > Sustainable Environment : Biodiversity & Zero-waste > Fundamental Factor : Environmental Responsibility, Social Responsibility, Governance

Major Agenda

Establish a Sustainable System to Achieve Strengthened ‘Health and Safety’ Value

Health and safety is our top priority across all processes from procurement to development, production, sale, and disposal. We will build processes to thoroughly check and prevent economic, social, and environmental risks within the company throughout the entire supply chain.

Establish a Sustainable Environment System

CJ CheilJedang recognizes that the manufacturing and use of products have a potential impact on the environment. To fulfill our responsibility, we will establish our own environmental management system to create environmental values regarding the plastic recirculation system, carbon emissions, and food waste reduction.

Business Department for Sustainability Management

For systematic sustainability management, we organized the cooperation department of each division, the Business Department for Sustainability Management that integrates these cooperation departments, and the committee for policy suggestions and joint discussion for each issue.

CEO - Social Contribution Committee , Company-wide Risk Response Operating Committee, Business Management Administration, CBP Division - 1. Sustainability Management Organization : CSV Team ,2. E(Environment) [Environmental Safety Division, Packaging Division, Procurement Division], S(Social) [Procurement Division, HR Division], G(Economy & Governance) [Financial Division, R&D, Procurement Division, Compliance Division]

Joint Discussion for Social Contribution

CJ CheilJedang implements companywide joint discussion over each agenda to enhance its sustainability. In 2018, we established the Social Contribution Committee to ensure the transparency of purposes and processes regarding the use of donations and contributions. The committee members include CEO, CFO, compliance officer and CSR director. Under the Company-wide Risk Response Operating Committee, we run a company-wide risk system to take measures promptly for major risks and the committee is composed of On-site Response Team, External Response Team, and Internal Operating Support Team.

Risk Management

CJ CheilJedang identifies financial and non-financial risks that affect its business management activities and defines potential risks that are expected to have a major influence on its business in the future. Based on that, we conduct a thorough analysis and come up with countermeasures to minimize their impact by running the dedicated management group.

Definition and Management of Major Risks

Definition and Management of Major Risks
Risks Definition and Impact / Management Group / Management Method
Overall
business
manage-
ment

Definition and Impact

Risks arising across the overall business management activities regarding environment, industrial safety, quality and process may affect reliability and profits of the company. We thus operate the company-wide risk response division against the occurrence of major risks.

Management Group

· Food Production & Manufacturing Department

· Business Management

Management Method

· Company-wide risk response division

Infor-
mation
security

Definition and Impact

Information security risks including threats to cybersecurity undermine trust with consumers and affect company profits. We thus operate the in-house group that protects personal information of consumers and confidential data of the company.

Management Group

· Convergence Security Team

Management Method

· Company-wide risk response division

· Organization of information protection group

· Designation of the dedicated security staff at each division

Taxation

Definition and Impact

Since CJ CheilJedang runs business all around the world, any compliance risk regarding local tax regulations and institutions directly affects company profits. We thus implement CJ CheilJedang Tax Policy based on local tax policies and regulations.

Management Group

· Financial Operation Division

Management Method

· Company-wide risk response division

· Tax policy

· Tax risk management process

Definition and Management of Emerging Risks

Definition and Management of Emerging Risks
Emerging Risk Definition and Impact / Management Group / Management Policy
Risk of
rapid
changes in
the price
of raw
materials

Definition and Impact

Supply and cost risks may arise due to sudden changes in the price of major raw materials and ingredients, which may have an impact on profit and loss.

Management Group

· Food Procurement Department

· Global Procurement Strategy Division

Management Policy

· Establish a system to monitor the price of raw materials and ingredients

· Monitor quantitative indicators

· Monitor qualitative developments

Foreign
exchange
risk
manage-
ment

Definition and Impact

Exchange rate fluctuations may result in increased uncertainty and changes in profit and loss.

Management Group

· Financial Strategy Division

Management Policy

· Alleviate foreign exchange risk by first reducing exchange rate exposure through matching

· Hedge residual exposure through derivatives, such as forward exchange, in accordance with internal foreign exchange control regulations

· Strictly prohibit foreign exchange management for speculative purposes

Risk of
changes in
environmental
safety
regulations
and
policie

Definition and Impact

Inadequate response to changes in environmental and safety regulations and policies that apply to our business sites may cause legal risks, affecting the operation of business sites.

Management Group

· Safety Management Team

· Food Production& Manufacturing Department

· BIO Engineering Division

Management Policy

· Establish a company-wide system for monitoring regulations
- Take proper measures to comply with new and revised regulations that apply to the company, including consideration of proactive application of upcoming (noyet adopted) regulations

Business
site safety
risk

Definition and Impact

Environmental disasters, fire, industrial (severe) accidents, health hazards, and electricity-related factors are defined as the five major risks that may occur in manufacturing sites. These risks may affect the credibility of the company among employees and the community.

Management Group

· Establish a Risk-Top management system at each business site focusing on major accidents

· Food Production& Manufacturing Department

· BIO Engineering Division

Management Policy

· Establish a Risk-Top management system at each business site focusing on major accidents

· Strengthen the operation of SDR (Safety Design Review)

· Establish rules for safe code of conduct (‘No Stop? No Touch!’)

· Implement infectious disease prevention and management in phases

Demographic
changes

Definition and Impact

Changes in the population structure, such as an increase in single-person households and female workers, affect the overall food business and require the introduction of new products that reflect customer needs based on changing trends.

Management Group

· Food Brand Marketing Division

Management Policy

· Develop new HMR products that reflect the trend of pursuit of health and convenience

· Implement strategies for making premium HMR products

· Upgrade HMR products to the next level based on the trend forecast

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