Seoul, Nov. 9 (Yonhap) -- South Korean major tobacco company, KT&G Corp., announced on Wednesday that they will introduce a new HNB (Heat-Not-Burn) product to the domestic market to diversify their product lineup, which currently focuses on cigarettes.
The company stated in a press release that on November 16, KT&G will launch a promotional campaign for their heat-not-burn (HNB) tobacco product named lil ABLE and its premium version, lil ABLE PREMIUM, for local consumers.
HNB products are electronic devices that contain tobacco, which distinguishes them from e-cigarettes. The tobacco is heated to high temperatures instead of being ignited, producing smoke that the user inhales.
During the July-September quarter, KT&G's net profit surged 29% to 463 billion Korean won (approximately 2.4 billion Chinese yuan) from 359 billion Korean won a year earlier, thanks to increased exports and a weakening Korean won.
Currently, 90% of KT&G's total sales come from the cigarette business sector, with the remaining 10% coming from their HNB (Heat-Not-Burn) department. The company has been actively working to increase sales in their non-cigarette business sectors.
From January to September, net income increased by 21% from the same period last year, rising from 878.58 billion Korean won to 1.06 trillion Korean won (approximately 5.6 billion yuan).
New product line "Lil Able Series." Image source: Hankyoreh.
Statement:
This article is compiled from third-party information and is intended solely for industry exchange and learning purposes.
This article does not represent the views of 2FIRSTS and 2FIRSTS is not able to confirm the authenticity or accuracy of the article's content. The translation of this article is intended solely for industry exchange and research.
Due to limitations in translation ability, the compiled article may not fully reflect the original text. Please refer to the original text for accurate representation.
2FIRSTS asserts complete alignment with the Chinese government on any domestic, Hong Kong, Macau, Taiwan, or international issues and positions.
The compilation of information is owned by the original media and author. If there is any infringement, please contact us for deletion.
Disclaimer
This article is provided solely for professional research, industry discussion, and informational purposes. Any references to brands, companies, products, technologies, or policies are made for factual reporting and analytical purposes only, and do not constitute endorsement, recommendation, promotion, or advertising by 2Firsts.
Nicotine-containing products, including but not limited to cigarettes, e-cigarettes, heated tobacco products, and nicotine pouches, carry significant health risks. Readers are responsible for complying with all applicable laws and regulations in their respective jurisdictions, including age restrictions and access limitations.
The information contained in this article should not be regarded as investment, legal, medical, regulatory, or commercial advice. While 2Firsts strives to ensure the accuracy and reliability of its content, it does not assume liability for any direct or indirect loss arising from errors, omissions, inaccuracies, or reliance on the information contained herein.
This article is not intended for individuals below the legal age for accessing tobacco or nicotine-related information in their jurisdiction.
Copyright Notice
This article is either original content produced by 2Firsts or content reproduced, translated, summarized, or adapted from third-party sources with attribution where applicable. The intellectual property rights of the original content remain with 2Firsts or the respective original rights holders.
No individual or organization may copy, reproduce, distribute, republish, modify, translate, or otherwise use this content without prior authorization. Any unauthorized use may result in legal action.
For copyright-related inquiries, corrections, or removal requests, please contact: info@2firsts.com.
AI-Assisted Translation and Editing Notice
Portions of this article may have been translated, edited, or reviewed with the assistance of artificial intelligence tools to improve efficiency and readability. Due to the limitations of AI-assisted translation and editing, discrepancies, omissions, or inaccuracies may exist when compared with the original source.
Where applicable, readers are advised to refer to the original source for the most complete and accurate information. If you identify any errors or believe that any content infringes upon your rights, please contact us at info@2firsts.com, and we will review and address the matter promptly.
