BlackRock announced that it acquired an additional 467,350 shares of KT&G over the past four months, increasing its stake in the Korean company from 5.01% to 6.15%. The move follows a similar investment by Capital Group, which recently raised its holding to 7.21%, helping push foreign ownership of KT&G above 51%. The increased foreign investment reflects confidence in the company’s earnings outlook, supported by strong international tobacco sales and expectations for enhanced shareholder returns.
KT&G’s overseas cigarette business continues to drive growth, with first-quarter revenue rising 24.6% year-on-year and operating profit increasing 56.1%, aided in part by strategic price increases. The company has also intensified engagement with international investors through roadshows and other investor-relations activities and plans to introduce a new shareholder return policy in the second half of 2026, with stronger dividend payouts expected to be a key feature. KT&G said the rising stakes held by major global asset managers demonstrate confidence in its long-term growth strategy and commitment to delivering industry-leading returns to shareholders.
