The prince showed great interest in CJ E&M’s overseas expansion, and said that the two companies could cooperate to look for opportunities on the global scene. (image: CJ Group)
SEOUL, March 10 (Korea Bizwire) — CJ Group and Kingdom Holding Company (KHC), an investment company in Saudi Arabia, have entered into a partnership for their content businesses.
CJ Group chairman Sohn Kyung-Shik met HRH Prince Alwaleed Bin Talal, chairman of KHC, on March 8. Sohn said that CJ Group is Asia’s best content company, and offers KHC a unique opportunity to make inroads in the Asian market. He also suggested a visit to CJ Group in Korea, which Prince Alwaleed Bin Talal accepted.
The prince showed great interest in CJ E&M’s overseas expansion, and said that the two companies could cooperate to look for opportunities on the global scene. The prince, known to be a ‘Middle-Eastern Warren Buffett,’ is the grandson of Abdulaziz Al Saud, the first monarch of Saudi Arabia. KHC is a 12-billion-dollar diversified investment company with holdings in various large international corporations.
Prince Bin Talal also owns Rotana Group, which is the largest media company in the Middle East, operating 12 TV channels, 4 radio channels, a music label and magazines.
CJ Group said that achieving their partnership was strongly influenced by President Park Geun-Hye’s holding of separate talks with the prince on March 4. President Park is currently on a trip to the Middle East, and will participate in summits with the leaders of four Gulf Cooperation Council (GCC) countries.
By J. W. Choi (summerchoi@koreabizwire.com)
