KT&G opened an office in Taiwan as part of the company’s ambition to become the fourth-largest tobacco manufacturer by 2025, reports The Korea Times.
Taiwan has been one of KT&G’s key markets since 2002 when the company began exporting to the island and upgraded products sold there with premium quality brands.
In 2020, KT&G sold more than 771 million cigarettes in Taiwan, up more than 2,200 percent from 2002.
“We will set up a team to bolster marketing and sales activities while working on new brands that fulfill consumers’ needs,” said Kim Na-mi, KT&G Taiwan Corporation head.
According to Kim, the market in Taiwan offers great potential. She noted that the country’s consumer spending is quickly recovering due to a highly effective Covid-19 response and that the country’s GDP growth will be higher than previously forecast.