CJ Group chairman focuses on reviving ‘Only One Spirit’

CJ Group Chairman Sohn Kyung-shik

In his New Year’s address on Tuesday, CJ Group Chairman Sohn Kyung-shik emphasized the need to concentrate all efforts on revitalizing the core value of the CJ Group, known as the ‘Only One Spirit.’

Through an internal broadcast, he underscored the importance of restoring the essence of ‘Only One Spirit,’ expressing concern that the group had grown complacent with its reality.

“Only One Spirit signifies the pursuit and achievement of being the first, the best, and differentiated in every aspect,” Sohn said, highlighting the urgent necessity for CJ Group to become the undisputed leader by possessing ‘unrivaled capabilities.’

He urged all employees to regain an urgency to be number one, to excel, and to achieve the set objectives.

Sohn’s emphasis on the sprit is in response to his assessment that CJ Group is facing an unprecedented crisis.

“Past crises have been temporary, driven by external shocks amid rapid growth as an icon of innovation over the past 30 years. The current crisis is more serious, driven by internal factors such as complacency and overconfidence,” he assessed.

Sohn said that CJ Group’s response had been slow to new competitors such as Netflix and Coupang, who threaten the existing business model and are rapidly catching up as latecomers in the industry.

While driving profitability and improving the financial structure, Sohn outlined plans to actively pursue global growth in businesses that have secured unparalleled capabilities. He further said the group needs to establish a ‘Quantum Jump’ plan for 2024-2026 and come up with a gap that competitors cannot bridge easily, as well as global objectives and specific execution strategies.

Highlighting the global spread of K-Food and K-Culture as a significant opportunity for the group, Sohn urged employees to seize the moment without fail.