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KT&G aims to become global top 4 tobacco maker by 2025

Collected: 2017.11.30

Distributed: 2017.12.01

Source: Go Direct

South Korea’s tobacco maker KT&G Corp. aims to become one of the world’s top four players by 2025 by quadrupling its overseas sales and aggressively tapping into the emerging markets, the company said on Thursday.

The tobacco maker announced its mid- to long-term vision at its headquarters in Daejeon, saying that it will work hard to develop new brands and pursue bold reorganization. In order to achieve its goal to more than quadruple its global sales and newly enter markets in Latin America and Africa, it will establish its regional offices in the Asia-Pacific, America, Africa and Eurasia that focus on developing brands that meet the needs of local consumers.

KT&G’s overseas sales reached 941.4 billion won ($868 million) last year by selling 48.7 billion cigarettes worldwide. Its overseas sales amounting to just 2.6 billion cigarettes in 1999 started to increase in 2002 after privatization. It is estimated to hit a record high this year as it has sold 41.5 billion cigarettes during January to September.

Exports have been on the rise since it started management overhaul on advice from professional managers after privatization in 2002, according to an official from KT&G. The company has been maintaining its leading position in the local market with share of 60 percent despite competition from foreign rivals entering the Korean market since 1988.

By Lee Duk-joo and Choi Mira

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