U.S.-based Capital Group announced that it has acquired a 5.61% stake in South Korea’s KT&G, joining a growing group of major foreign investors in the tobacco company as its share price reaches record levels. The disclosure, required under Korean regulations for holdings above 5%, positions Capital Group alongside other significant shareholders, including BlackRock, First Eagle Investments, and Singapore’s GIC.
The investment comes amid sustained foreign buying momentum, with overseas investors purchasing an estimated 800,000 shares worth about KRW 140 billion ($96.6 million) over 19 consecutive trading sessions through May 7. The influx of capital has helped push KT&G’s stock above KRW 180,000 ($122.40) for the first time, reflecting increased investor interest in the company’s performance and outlook.
