Korean Tobacco Company Increases Production Capacity Of New Tobacco Products

Korean Tobacco Company Increases Production Capacity of New Tobacco Products

Recently, the Korea Tobacco & Ginseng Corporation (KT&G) has expanded its production capacity for new tobacco products, specifically electronic cigarettes. The company has built a new factory in SinTanjin and established an innovation center for producing electronic cigarettes.

KT&G has added three new electronic cigarette production lines in 2021, bringing the total number of production lines to eight. They have also built an automated warehouse capable of storing up to 360,000 boxes of electronic cigarettes. The company has announced that its strategic focus will be on expanding its international business for electronic cigarettes, heat-not-burn tobacco products, and traditional cigarettes. They plan to achieve more than 60% of their total revenue from new tobacco products by 2027 through investment and innovation.

KT&G plans to further expand its innovation center for electronic cigarette production, with a focus on increasing production facilities in SinTanjin and KwangJu factories to meet the growing demand for new tobacco products in the market. In January 2021, KT&G released its "Future Vision Declaration," announcing its investment plans, and expanding the SinTanjin factory was part of the investment plan. In September, the company announced a new factory in Indonesia to produce and export products, and in October, they broke ground on a new factory in Kazakhstan, aiming to establish a foothold in the Eurasian market.

The CEO of KT&G, Baek Bok-In, stated, "The SinTanjin factory will play a significant role as a growth engine, enhancing KT&G's competitiveness in new tobacco products. In the future, we will lead the development of new tobacco product businesses based on innovative technology and good relationships with global partners. We will continue to increase investment in expanding production infrastructure and strive to reach a world-class level."

This move by KT&G towards new tobacco products, specifically electronic cigarettes, illustrates the growing shift in the cigarette market towards alternative products. The industry has seen a rise in demand for electronic cigarettes and other new tobacco products, and KT&G's investment in new production facilities and innovation centers demonstrates their commitment to meeting this demand and expanding their business both domestically and internationally.

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