SEOUL, April 24 (Korea Bizwire) – A former researcher at KT&G Corp., the leading tobacco company in South Korea, filed a damages suit Wednesday against his former employer, claiming that he invented the world’s first electronic cigarette while working for the firm, but was not properly rewarded. The plaintiff, Kwak Dae-geun, demanded 2.8 trillion won [...]
SEOUL, Oct. 12 (Korea Bizwire) — KT&G Corp., South Korea’s dominant tobacco company, said Thursday it has begun construction in Kazakhstan of its fourth overseas plant as part of its expansion strategy. KT&G aims to complete the plant’s construction by 2025 to export its products to the Eurasian region, the company said in a statement. [...]
SEOUL, Sept. 11 (Korea Bizwire) — KT&G Corp., South Korea’s dominant tobacco company, said Monday it plans to expand its production facilities in Indonesia, with an aim to start operations in 2026. KT&G currently has a tobacco manufacturing plant in Surabaya and plans to build another one in the Southeast Asian country. The new Indonesian [...]
SEOUL, Jan. 30 (Korea Bizwire) — KT&G Corp., South Korea’s dominant tobacco company, said Monday it has extended its partnership with Philip Morris International Inc. (PMI) to strengthen its presence in global e-cigarette markets. KT&G and PMI have signed a 15-year supply contract, in which the former will distribute its e-cigarette product line Iil through [...]
SEOUL, Nov. 9 (Korea Bizwire) — KT&G Corp., South Korea’s dominant tobacco company, said Wednesday it will add all-new heat-not-burn products in the domestic market to diversify its cigarette-focused lineup. KT&G will release the lil ABLE heat-not-burn, or smokeless tobacco products, and its premium version lil ABLE PREMIUM initially for local customers on Nov. 16, [...]
SEOUL, Dec. 15 (Korea Bizwire) — KT&G Corp., South Korea’s dominant tobacco company, will suspend its tobacco business in the United States for an unspecified period, the company said in a regulatory filing Tuesday. “We need to conduct a review of our business in the U.S. amid intensifying regulations over tobacco and growing competition,” the [...]
SEOUL, March 24 (Korea Bizwire) — KT&G Corp., South Korea’s dominant tobacco company, said Wednesday it is aiming to earn half of its revenue from overseas by 2025 as it seeks to open more overseas subsidiaries and explore new markets. Currently, KT&G earns 40 percent of its tobacco sales from exports. The company operates sales [...]
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, [...]
SEOUL, Feb. 26 (Korea Bizwire) – KT&G Corp., South Korea’s major tobacco company, said Monday its January net income rose 31 percent from a year ago amid fluctuations in the won-dollar exchange rate. Net profit came to 58.8 billion won (US$55 million) last month, compared with 44.9 billion won posted a year earlier, the company [...]
CHEONGJU, Jan. 5 (Korea Bizwire) — What on the surface appears to be good news actually has municipal governments worried. Last year, tobacco consumption tax revenues declined considerably, which may be interpreted by some as a sign of a healthier public who, deterred by a government-ordered price hike of around 80 percent, are willing to [...]