Tags : South Korea

News This Week

Prosecutors raid KT&G over alleged corruption

Prosecutors announced on Oct. 2 that they have raided the headquarters of KT&G, South Korea’s leading tobacco maker, due to allegations that the company created slush funds in the process of taking over other companies, according to The Korea Herald. The office of Min Young-jin, the former head of KT&G Corp., as well as that...Read More

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Anti-smoking research institute to open in South Korea

The South Korean government will open an anti-smoking research institute next month, where the ingredients found in tobacco will be studied and the harmful effects of smoking will be assessed. Data gathered at the institute will likely to be used in the government’s ongoing lawsuit against tobacco companies over compensation for health care costs linked...Read More

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Price hikes result in KT&G profit surge

KT&G’s first-quarter operating profits and revenue have increased significantly compared to the same period last year, due to price hikes and improvements in its affiliates’ performances, according to a story in the Korea JoongAng Daily. South Korea’s No. 1 cigarette and ginseng company’s operating profit increased by nearly 65 percent year-on-year to krw428.5 billion ($395...Read More

News This Week

South Korea considers stricter e-cigarette regulations

The government of South Korea plans to push for tougher legal restrictions on the sale of e-cigarettes, the finance ministry announced April 22. Finance Minister Choi Kyung-hwan, who also serves as deputy prime minister, told lawmakers in the National Assembly that he would soon “come up with a comprehensive proposal” on e-cigarettes that would ban...Read More