KT&G's Midterm Plan: Doubling Sales by 2027

Feb.02.2023

KT&G plans to invest $3.1 billion in e-cigarette and ginseng health products and double sales by 2027.

KT&G has recently launched a midterm business plan.

According to the plan, KT&G will invest a total of 3.9 trillion Korean won (3.1 billion US dollars) by 2027, with a focus on its electronic cigarette business (including overseas operations) and health supplements containing ginseng.

KT&G has plans to increase its sales revenue to over 100 trillion Korean won by 2027, a 73% growth compared to the estimated sales revenue of 59 trillion Korean won in 2022.

Bang Kyung-man, the Executive Vice President of KT&G, announced that the company now sells its heated non-combustible cigarette brands in 31 different countries, with a primary focus on the European market. Since partnering with various companies, the sales of its product, "lil," have quadrupled. The company is also considering releasing sales data related to "lil," which has not yet been disclosed due to a partnership agreement with PMI.

The company also presented its business expansion strategy, aiming to obtain more than half of its sales revenue from overseas operations by 2027. It is reported that in 2022, about 33% of KT&G's sales revenue comes from overseas operations.

According to Bang, KT&G is considering Kazakhstan and Eastern Europe as potential locations for a new factory. In order to raise the necessary funds, KT&G may sell some of its real estate assets and borrow from banks.

References:

KT&G has rejected the idea of spinning off its ginseng unit and instead plans to double its sales by 2027.

#Europe #Open system e-cigarettes #United Kingdom #Regulation

This document has been generated through artificial intelligence translation and is provided solely for the purposes of industry discourse and learning. Please note that the intellectual property rights of the content belong to the original media source or author. Owing to certain limitations in the translation process, there may be discrepancies between the translated text and the original content. We recommend referring to the original source for complete accuracy. In case of any inaccuracies, we invite you to reach out to us with corrections. If you believe any content has infringed upon your rights, please contact us immediately for its removal.

Russian Lawmaker Sounds Alarm as Teenage Vaping Surges—Female Use Overtakes Male

Russia’s Chair of the State Duma Committee on Youth Policy warns that among 11–14-year-olds, girls now vape at higher rates than boys, a trend he calls “deeply concerning.” He says the spread of nicotine products—especially e-cigarettes—among minors poses a public health risk and warrants continued policy-level interventions.

Oct.17 by 2FIRSTS.ai

Leather Wrap + Mini Display: DOJO’s New Product Launches in the U.S., Priced Around $15

DOJO lists Sphere S 40K in the U.S.: semi-transparent leather wrap, mini status display; 20 mL/40,000 puffs/1000 mAh, ECO/SMART; $14.99; some pages “Coming Soon.”

Oct.14 by 2FIRSTS.ai

South Korea National Assembly Approves Bill to Regulate E-Cigarettes Under Tobacco Law After Nine Years of Debate

South Korea’s National Assembly Legislation and Judiciary Committee passed a long-debated amendment to the Tobacco Business Act on November 26, expanding the legal definition of tobacco to include synthetic nicotine e-cigarettes. The amendment aims to end the regulatory blind spot surrounding such products while ensuring transitional support for vape retailers and a grace period for compliance.

Nov.26 by 2FIRSTS.ai

B.C. Plans World’s First E-Cigarette Public Health Accountability Law Aimed at “Deceptive Marketing”

British Columbia, Canada is advancing what it calls the world’s first e-cigarette Public Health Accountability law, granting the government authority to sue companies for “deceptive marketing.” The move puts public-health risks at the center of vaping industry compliance.

Oct.10 by 2FIRSTS.ai