DAEJEON/SEOUL, March 16 (Korea Bizwire) – The current chief of KT&G Corp. was reappointed to head the South Korean tobacco maker for another three years, the company said Friday.
Baek Bok-in’s reappointment was approved by a regular meeting of shareholders in Daejeon, central South Korea, earlier in the day, it said.
The company is South Korea’s largest tobacco and ginseng product manufacturer, with more than half of its shareholders being foreign investors.
“I will develop KT&G into a global enterprise based on an aggressive overseas expansion strategy, and maximize shareholder value and contribute to the national economy through a balanced business portfolio,” Baek said.
KT&G logged 4.67 trillion won (US$4.36 billion) in sales and 1.43 trillion won in operating profit last year.