SEOUL - CJ Cheiljedang Corp., a leading South Korean food and bio company, has announced a significant decrease in its net income for the year 2023. The company's net profit fell 30.3 percent to 559.5 billion won (US$421.2 million), marking a downturn from the previous year's performance.
According to Yonhap News Agency, CJ Cheiljedang also saw a decrease in its operating profit, which dropped 22.4 percent on-year to 1.29 trillion won. The company's annual sales experienced a decline as well, decreasing by 3.5 percent to total 29.02 trillion won. This financial performance indicates a challenging year for the corporation amidst varying market conditions.