This article was published on July 7, 2026, at 3:14 p.m. on the capital markets compass "Signal."
CJ CheilJedang is pushing to sell non-core assets worth 230 billion won. The assets designated for sale are properties located across the country, including its Incheon Plant No. 3, and industry watchers see a sale-and-leaseback arrangement as the most likely outcome. The cash secured through the liquidation of non-core assets is expected to be used for business restructuring and strengthening new growth engines.
According to the investment banking (IB) industry Monday, CJ CheilJedang has classified owned properties including its Incheon Plant No. 3 in Jemulpo-gu, Incheon, its Incheon frozen food plant, and its Nonsan Plant No. 3 in South Chungcheong Province as assets for sale, and is seeking buyers. According to its business report, CJ CheilJedang operates 15 plants nationwide. Among them, Incheon Plant No. 3 handles cooking oil production, while the Incheon frozen food plant handles the production of frozen foods such as dumplings. Both production facilities are located near Pier 5 of Incheon Port, allowing them to serve as export and import bases. The combined value of the assets currently up for sale is said to be around 230 billion won.
CJ CheilJedang ranks among the leaders in Korea's domestic cooking oil market, alongside Sajo Group and Ottogi. Because it imports soybeans and presses the oil directly, it must operate production facilities near large ports. For frozen foods, growth continues overseas centered on the dumpling brand "Bibigo," so the situation calls for expansion rather than reduction of facilities. An IB industry official said, "Various properties including production facilities, buildings, and land are up for sale," adding, "Among these, for the production facilities, a sale-and-leaseback arrangement in which the property is sold on the condition of a lease is the most likely."
The large-scale asset sale is interpreted as a move in the context of business unit rebalancing. In March this year, CJ CheilJedang announced plans for business restructuring and structural improvement, and established the Future Innovation Office as an organization directly under the CEO. The Future Innovation Office is leading rebalancing work, including optimizing the business portfolio through the liquidation of non-core assets and improving its structure centered on profit and growth businesses. CJ CheilJedang also carried out a large-scale organizational overhaul, reorganizing its business structure, which had been divided into food and bio, into three divisions: lifestyle food, technology materials, and core materials.
The cash secured by selling non-core assets is expected to be used to strengthen "cash cows" such as the Bibigo brand and new growth engines such as bio materials. CJ CheilJedang's food business, led by the Bibigo brand, saw overseas sales (5.9247 trillion won) surpass domestic sales (5.5974 trillion won) for the first time last year. Nucleic acids, a high-value-added product in the bio division, have recently entered a full-fledged growth phase after securing new customers. A food industry official said, "CJ CheilJedang's existing core businesses such as flour milling and sugar refining are seeing worsening profitability due to the effects of high exchange rates and high oil prices," adding, "As K-Food has recently established itself in the U.S. market, the company will increase investment in core growth businesses with funds secured by selling non-core real estate."
Meanwhile, a CJ CheilJedang official said, "As part of future innovation, we are considering various measures for asset efficiency, but nothing has been specifically finalized."
