KT&G Logs Record 1 Trillion Won in Overseas Revenues
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KT&G Logs Record 1 Trillion Won in Overseas Revenues
Company sees number of cigarettes sold in foreign markets soar to 55.4 billion in 2017, a jump from 2016

23(Fri), Feb, 2018




KT&G President Baek Bok-in.



KT&G saw overseas revenue top 1 trillion won annually last year for the first time since its establishment. 

KT&G said on Feb. 1 it chalked up a record 1,048 trillion won in overseas revenues in 2017, an 11.3 percent surge from 941.4 trillion won in 2016. 

KT&G also saw the number of cigarettes sold in foreign markets, including exports and overseas production, soar to 55.4 billion in 2017, a jump from 48.7 billion cigaretts sold in 2016.

KT&G, which began to export cigarettes abroad in 1988, has grown to become a global top-five tobacco company by entering 50 countries. The company, whose exports stood at 2.6 billion cigarettes in 1999, saw exports and overseas production soar to 55.4 billion cigarettes in 2017, a more than 20-fold jump in 18 years. KT&G achieved the feat following privatization. 

ESSE and PINE, KT&G¡¯s mainstay brands, enjoy popularity in such places as Russia and the Middle East, the company said. Of late, the Korean tobacco company saw cigarette products tailored to meet local consumers¡¯ needs enjoy an increase in such emerging markets as Africa and Central and South America. KT&G has production operations in Russia, Turkey and Indonesia. 

KT&G made the feat in overseas cigarette revenue on top of logging more than 1 trillion won in sales in the domestic cigarette and red ginseng market, to cap the so-called Triple Crown. The company chalked up 3 trillion won in combined sales in the three sectors overseas tobacco, domestic tobacco and red ginseng businesses in 2017, up 1.1 percent over the previous year but KT&G saw the three sectors decline to a combed 1.244 trillion won in operating profit last year, a 4.6 percent drop from 2016. 

The rise in operating profit was partly attributable to growing e-cigarettes sales, analyses indicate. 

KT&G plans to raise its dividend from 3,600 won last year to 4,000 won this year per share to strengthen shareholder-oriented management. KT&G President Baek Bok-in said, ¡°Despite such unfavorable business conditions as a strong won, achieving 1 trillion won in overseas revenues takes on significance.¡± 

He added that his company will attach priority to exploring emerging markets with high growth potential this year.




ESSE, one of KT &G¡¯s mainstay brands, enjoys popularity in Iran. (Photos: KT&G)






   
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