KT&G ambitions grow
Photo by BIG FOOT11
South Korea’s KT&G aims to become one of the world’s top four tobacco manufacturers by 2025 by tapping into emerging markets and quadrupling its overseas sales, according to a story in The Pulse.
KT&G announced its mid- to long-term ambitions at its headquarters in Daejeon yesterday, saying that it would work hard to develop new brands and pursue a bold reorganization.
To achieve its goal of more than quadrupling its global sales and entering markets in Latin America and Africa, it would establish regional offices in the Asia-Pacific, America, Africa and Eurasia that focused on developing brands that met the needs of local consumers.
The value of KT&G’s overseas sales reached 941.4 billion won ($868 million) last year through the sale of 48.7 billion cigarettes.
Its overseas sales, amounting to 2.6 billion cigarettes in 1999, started to increase in 2002 after privatization.
Between January and September this year, the company sold 41.5 billion cigarettes overseas, which puts it on stream to hit a record high this year.
Meanwhile, KT&G has been maintaining its leading position in the local market with a share of 60 percent.
