CJ Group Chairman Lee Jae-hyun (left) talks with a Saudi Arabian government official in Riyadh in early September
CJ Group, South Korea’s food-to-entertainment giant, is exploring business opportunities in Saudi Arabia’s entertainment and logistics sectors, in tandem with the Kingdom’s transition into a smart, futuristic nation under the Vision 2030 initiative.
Lee Jae-hyun, chairman of CJ Group, has discussed collaboration with Saudi Arabian government officials during his three-day visit to the kingdom early this month, the conglomerate said on Wednesday.
CJ Group, the parent of entertainment powerhouse CJ ENM Co. behind Oscar-winning films Parasite and Minari, has been riding on the global popularity of K-pop, Korean dramas and movies. But its global business is focused on North America.
In Riyadh, the capital city of Saudi Arabia, Lee met with key officials of the country’s culture and tourism ministries spearheading the kingdom’s Vision 2030 projects aimed at establishing a more open economy by nurturing entertainment, tourism and software businesses.
In the meetings, the chairman discussed their partnerships to unlock the Middle Eastern country’s potential by combining CJ Group’s expertise and infrastructure in the entertainment industry with Saudi Arabia’s cultural resources.
CJ Group Chairman Lee Jae-hyun (left) talks with Saudi Arabian government officials in Riyadh in early September
He paid the visit at the invitation by its cultural ministry, marking his first trip to the country made at the government’s invitation.
He was accompanied by Kim Hong-ki, CEO of the group’s holding company CJ Corp. and Yoon Sang-hyun, co-CEO of CJ ENM, along with Jung Jhong-hwan, head of CJ ENM’s content and global business.
They toured Al-Ula, an ancient Arabian city and Al-Ula Studios. The filming studio measures 25,000 square meters and features two soundstages. CJ Group executives suggested developing tourism products for the ancient city and the movie studio.
REGIONAL HUB
CJ Group hopes to establish a regional hub in Saudi Arabia to expand into other parts of the Middle East and North Africa with a population of 600 million, taking advantage of the kingdom’s support to foster entertainment and media industries.
CJ ENM produced the hit TV series Lovely Runner in 2024
Industry observes say CJ Group may jointly produce movies, dramas and music in cooperation with Saudi Arabian companies.
It had hosted K-pop concerts in Saudi Arabia in 2022 and 2023. The 2022 concert brought in 8.22 million online and offline audiences. In 2022, CJ ENM signed an agreement with Saudi Arabia’s cultural ministry to collaborate in the sectors ranging from films to music and food through 2032.
CJ CGV, South Korea’s largest cinema operator, runs 14 movie theaters in Saudi Arabia.
CJ Group Chairman Lee Jae-hyun (second from left) inspects a distribution center construction site near King Khalid International Airport in Riyadh
LOGISTICS SERVICE
CJ Group, the parent of CJ Logistics Co., is building a global distribution center at Saudi Arabia’s first Special Integrated Logistics Zone at King Khalid International Airport in Riyadh. The distribution center will handle cross-border transportation of food and health supplements in partnership with their retailers.
CJ CheilJedang Corp. is aggressively exporting food under its flagship brand Bibigo.
“As a company leading the global cultural industry, we will strive to spread the Korean Wave in the Middle East,” said a CJ Group official.
By Sul-Li Jun
sljun@hankyung.com
Yeonhee Kim edited this article
