KT&G Appoints New President: Transforming into Global Leader

News by 2FIRSTS.ai
Apr.01.2024
KT&G Appoints New President: Transforming into Global Leader
KT&G Appoints New CEO in First Leadership Change in Nine Years, Promising Global Expansion and Enhanced Stakeholder Trust.

Recently, according to Naver news, KT&G has replaced its CEO for the first time in nine years. The longtime CEO, Baek Bok-in, stepped down after serving three consecutive terms and was succeeded by senior vice president Bang Kyung-man. During the shareholders' meeting, Bang Kyung-man defeated Sun Dong-hwan, a law professor at Sungkyunkwan University, who received 56.6 million votes, as well as KT&G board chairman Im Min-kyu, who received 24.5 million votes, garnering 84.09 million votes.

 

As the head of the global headquarters, Bang Kyung-man increased the number of countries to which KT&G products are exported from 40 to over 100, with overseas sales exceeding 1 trillion Korean won. Within the company, he is highly praised for leading the development of medium to long-term strategies centered around three core businesses (overseas cigarettes, e-cigarettes, and health functional foods). A KT&G official said, "His high vote of confidence at the shareholders' meeting indicates that he is widely recognized as the right person to lead KT&G.

 

After the shareholders' meeting, Bang Kyung-man immediately stated that his goal is to "use the three core businesses as a springboard for development, leap towards becoming a world-class company", and to "share development achievements, increase company value, and establish stronger trust with all stakeholders, including shareholders." He proposed the "T-O-P" management strategy, which aims to improve trust with stakeholders through active communication, ensure competitiveness in the original location, and strengthen global specialization.

 

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn


Notice

1.  This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2.  The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3.  This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4.  Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

 

Copyright

 

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

 

AI Assistance Disclaimer

 

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

Experts to Debate Regional THR at first Asia Forum on Nicotine
Experts to Debate Regional THR at first Asia Forum on Nicotine
The first Asia Forum on Nicotine will be held on August 27, 2025, focusing on tobacco harm reduction in Asia. Experts will discuss regulation, scientific evidence, and clinical practice to promote cross-border dialogue and cooperation.
Aug.12
2Firsts Interview with IBVTA: UK Vape Tax May Weaken Harm Reduction Efforts
2Firsts Interview with IBVTA: UK Vape Tax May Weaken Harm Reduction Efforts
As the UK prepares to introduce its first-ever vape tax in 2026, questions are growing about how the measure will reshape the country’s harm reduction landscape. IBVTA tells 2Firsts that while it was not in favour of the new duty, it accepts that it is being implemented and is working with regulators to ensure a smooth rollout — warning, however, that higher costs could slow smokers’ transition to safer alternatives.
Oct.07
Vietnam's tobacco tax reform receives WHO award, projected to boost annual revenue by $900 million
Vietnam's tobacco tax reform receives WHO award, projected to boost annual revenue by $900 million
The WHO Western Pacific Regional Director recently presented the WHO Global Award to Vietnamese Minister of Health Đào Hồng Lan. The tax reforms in the newly revised 2025 Special Consumption Tax Law will enable 2.1 million people in Vietnam to quit or not start smoking by 2031, and will also generate an additional VND24 trillion (US$910 million) in annual state revenue.
Sep.28
Decatur, Alabama Passes New Vape Tax: US$0.05–0.10 per mL, Effective October 1
Decatur, Alabama Passes New Vape Tax: US$0.05–0.10 per mL, Effective October 1
The Decatur, Alabama, City Council voted to approve an ordinance imposing a volume-based tax on e-cigarette products: US$0.10 per milliliter for sales within city limits, and US$0.05 per milliliter for sales or deliveries outside city limits but within the city’s police jurisdiction. The ordinance is slated to take effect on October 1, 2025, though the actual start of collection may be set later by a companion resolution.
Sep.16 by 2FIRSTS.ai
UK Retailer VPZ Slams Government’s “Double Standards”: Deputy PM Vapes While Policy Pushes Against Harm Reduction
UK Retailer VPZ Slams Government’s “Double Standards”: Deputy PM Vapes While Policy Pushes Against Harm Reduction
UK vape retailer VPZ accused the government of hypocrisy in its vaping policies. On one hand, Deputy Prime Minister Angela Rayner was photographed using a vape as a smoking alternative; on the other, the Labour Party is pushing for stricter restrictions on vape flavors, packaging, and marketing. VPZ warned that such measures may backfire, hindering adult smokers from quitting and fueling the black market.
Aug.28 by 2FIRSTS.ai
Argentina's Neuquén province reiterates e-cigarette ban, covering import, distribution, and marketing
Argentina's Neuquén province reiterates e-cigarette ban, covering import, distribution, and marketing
The Consumer Protection Agency of Neuquén Province, Argentina, reiterated on September 24 that the ban on the import, distribution, marketing and advertising of e-cigarettes, similar devices and related accessories is fully effective. The restriction also covers "heated tobacco products" based on Resolution No. 565/2023 of the Ministry of Health and Regulation No. 3226/2011 of ANMAT.
Sep.25 by 2FIRSTS.ai