SEOUL, Nov. 15 (Korea Bizwire) – KT&G has exhausted its 10,000-unit supply of its HNB e-cigarette “Lil” within two days, according to the South Korean tobacco firm. Sold at GS25 convenience stores throughout the Seoul area, the pre-orders began on November 13 and ended around 5 p.m. the following day. Buyers can pick up their [...]
SEOUL, Nov. 7 (Korea Bizwire) – South Korean tobacco firm KT&G has thrown its hat into the HNB (heat-not-burn) tobacco product market with the release of “Lil”, unsettling market incumbents Philip Morris Korea and BAT Korea. A HNB tobacco product consists of an electronic device that, as its name suggests, heats tobacco sticks instead of [...]
SEOUL, Jun. 9 (Korea Bizwire) — KT&G Corp. said Thursday it will soon release heat-not-burn (HNB) cigarettes amid the growing popularity of the smoke-free tobacco despite concerns of the emissions of toxic substances similar to those of conventional cigarettes. The largest tobacco manufacturer in South Korea will begin marketing the new product in September, a [...]
SEJONG, May 2 (Korea Bizwire) – Four companies including KT&G Corp., South Korea’s largest tobacco manufacturer, have been included on the antitrust watch list as large business groups, with its mutual investments and loan guarantees to be restricted, the watchdog said Monday. Every year the Fair Trade Commission (FTC) announces a newly updated list of [...]
SEOUL, March 14 (Korea Bizwire) – KT&G Corp., South Korea’s largest tobacco product manufacturer, said Tuesday it posted solid profitability last year due to growing demand abroad despite falling domestic consumption. The company said its sales rose to 2.96 trillion won (US$2.57 billion) in 2016, up from 2.82 trillion won in the previous year. The [...]
SEOUL, Jan. 20 (Korea Bizwire) – KT&G, the leading tobacco company in Korea, has just released a press release boasting of its 2016 overseas cigarette sales, quickly drawing criticism given the fact that a large portion of the earnings were from less developed countries. According to company data, KT&G saw overseas sales increase by 4.7 [...]
INCHEON, Aug. 1 (Korea Bizwire) – Since 2015, KT&G (Korea Tobacco & Ginseng Corporation) has been able to maintain a winning streak in duty free store sales at Incheon International Airport. According to airport data, KT&G product sales at Korea’s leading airport came to 103.1 billion won ($92.7 million) and 71.8 billion won, respectively, in [...]
SEOUL, June 2 (Korea Bizwire) — “Sin stocks” of tobacco, alcohol and gambling companies have gained this year on the back of deep-pocketed Chinese tourists and low interest rates, data showed Tuesday. Thirty-six sin stocks related to tobacco, alcohol, gambling rose an average of 23.9 percent as of June 1 compared to the beginning of [...]
SEOUL, April 21 (Korea Bizwire) – Foreign tobacco brands failed again to offer their products to Korean soldiers. According to the Ministry of National Defense Welfare Agency, the four tobacco brands that will be added this year were all from KT&G, including This Africa Mola. At this year’s bidding, brands from KT&G, PMI Korea, BAT Korea and JTI Korea [...]
SEOUL, Feb. 23 (Korea Bizwire) – A whistleblower who helped the Korean tax office collect billions of won from tobacco company KT&G was indicted for blackmailing the company prior to alerting authorities about the company’s tax evasion. The whistleblower, surnamed Lee, entered KT&G in 1994 and was a diligent employee of the firm, the largest tobacco company [...]