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

Feb.02.2023

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

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.

China Tobacco Regulation Shift：Policy Updates and Market Impact

China Tobacco Regulation Shift：Policy Updates and Market Impact

U.S. Court Rules Zyn Marketing Dispute Can Proceed, Rejects Philip Morris International’s Bid to Dismiss

U.S. Court Rules Zyn Marketing Dispute Can Proceed, Rejects Philip Morris International’s Bid to Dismiss

A U.S. federal court in Florida denied Philip Morris International and its subsidiaries’ motion to dismiss, allowing consumers to proceed with claims under the Florida Deceptive and Unfair Trade Practices Act alleging that Zyn nicotine pouches’ “tobacco-free” marketing is misleading. The court held that the allegations do not amount to a fraud claim and may move forward to the merits stage.

Dec.15 by 2FIRSTS.ai

Malaysia’s vape industry flags “policy U-turn” concerns after ban on refillable open-system e-cigarettes

Malaysia’s vape industry flags “policy U-turn” concerns after ban on refillable open-system e-cigarettes

Malaysia’s vape industry has raised concerns over the government’s decision to ban refillable open-system e-cigarettes, describing it as a policy reversal despite earlier regulatory approvals.

Jan.08 by 2FIRSTS.ai

Philip Morris Japan adds “Electric Purple” to IQOS ILUMA i range, expands to convenience stores from Feb. 3

Philip Morris Japan adds “Electric Purple” to IQOS ILUMA i range, expands to convenience stores from Feb. 3

Philip Morris Japan (PMJ) said on Jan. 29 it has introduced “Electric Purple” as a new standard color option for its IQOS ILUMA i heated tobacco device lineup, covering three models with prices unchanged. The new color will be available from Jan. 29 via the company’s official online and store channels, with sales expanding to convenience stores and some tobacco retailers from Feb. 3.

Jan.29 by 2FIRSTS.ai

Alan Zhao: In the Post-“Absolute Resolve” Era: Speculating on U.S.-Referenced Regulatory Alignment and the Restructuring of Order in South America’s Novel Tobacco Market

Alan Zhao: In the Post-“Absolute Resolve” Era: Speculating on U.S.-Referenced Regulatory Alignment and the Restructuring of Order in South America’s Novel Tobacco Market

Alan Zhao analyzes post-Operation Absolute Resolve geopolitics and the rise of “U.S.-referenced regulatory alignment” in South America’s novel tobacco market as U.S. influence grows. Using regulatory reliance, digitalized enforcement, and industrial shifts, he assesses how rule redesign may alter market access, competition, and supply chains, asking how firms can find durable certainty as order is rewritten.

Jan.06 by 2Firsts Perspectives

Virginia Seeks to Dismiss E-Cigarette Ban Challenge, Citing Lack of Legal Standing

Virginia Seeks to Dismiss E-Cigarette Ban Challenge, Citing Lack of Legal Standing

The Virginia Attorney General and tax commissioner have urged a federal court to dismiss a lawsuit challenging the state’s ban on unapproved e-cigarettes, arguing that the companies behind the suit lack legal standing since their products are federally illegal. The state contends the plaintiffs, Novo Distro Inc. and Tobacco Hut and Vape Fairfax Inc., have no lawful right to sell unapproved vapes and cannot show irreparable harm.

Dec.10 by 2FIRSTS.ai

Reynolds American’s Grizzly expands NASCAR presence, to be primary sponsor for 27 Kaulig Racing Cup races in 2026

Reynolds American’s Grizzly expands NASCAR presence, to be primary sponsor for 27 Kaulig Racing Cup races in 2026

Grizzly Nicotine Pouches, a brand of American Snuff Company (ASC), a Reynolds American unit, said it will increase its NASCAR investment in the 2026 season, serving as primary sponsor for a combined 27 races across Kaulig Racing’s two full-time NASCAR Cup Series cars. The company added that Grizzly is already one of NASCAR’s official partner brands across all NASCAR tracks.

Jan.29 by 2FIRSTS.ai

Related Topics

News

Related Read

U.S. Court Rules Zyn Marketing Dispute Can Proceed, Rejects Philip Morris International’s Bid to Dismiss

U.S. Court Rules Zyn Marketing Dispute Can Proceed, Rejects Philip Morris International’s Bid to Dismiss

Malaysia’s vape industry flags “policy U-turn” concerns after ban on refillable open-system e-cigarettes

Malaysia’s vape industry flags “policy U-turn” concerns after ban on refillable open-system e-cigarettes

Philip Morris Japan adds “Electric Purple” to IQOS ILUMA i range, expands to convenience stores from Feb. 3

Philip Morris Japan adds “Electric Purple” to IQOS ILUMA i range, expands to convenience stores from Feb. 3

Alan Zhao: In the Post-“Absolute Resolve” Era: Speculating on U.S.-Referenced Regulatory Alignment and the Restructuring of Order in South America’s Novel Tobacco Market

Alan Zhao: In the Post-“Absolute Resolve” Era: Speculating on U.S.-Referenced Regulatory Alignment and the Restructuring of Order in South America’s Novel Tobacco Market

2Firsts Perspectives

Virginia Seeks to Dismiss E-Cigarette Ban Challenge, Citing Lack of Legal Standing

Virginia Seeks to Dismiss E-Cigarette Ban Challenge, Citing Lack of Legal Standing

Reynolds American’s Grizzly expands NASCAR presence, to be primary sponsor for 27 Kaulig Racing Cup races in 2026

Reynolds American’s Grizzly expands NASCAR presence, to be primary sponsor for 27 Kaulig Racing Cup races in 2026