KT&G Establishes Eurasian Production Hub in Kazakhstan
KT&G Establishes Eurasian Production Hub in Kazakhstan |
| [16-December-2024] |
- Building a cutting-edge hybrid production facility on 200,000㎡ in Almaty SEOUL, South Korea, Dec. 16, 2024 /PRNewswire/ -- KT&G (KRX:033780) is building a new factory in Kazakhstan to meet global demand for its overseas business.  In October 2023, KT&G held a groundbreaking ceremony for the new plant in Almaty, Kazakhstan, and began building a "hybrid production base" for overseas sales on a site of about 200,000 square meters. When the plant is completed in 2025, Kazakhstan will become a production hub for supplying products to Europe, the CIS, and the rest of Eurasia. Earlier, in early 2023, KT&G established a sales and manufacturing subsidiary in Kazakhstan to grow its business in Eurasia and has been focusing on establishing a local business foundation. Currently, the company employs more than 150 locally recruited employees, and the completion of the plant is expected to create additional local employment as it establishes a complete local value chain from production to marketing and sales. The establishment of KT&G's new factory in Kazakhstan is part of a growth investment aimed at achieving the company's vision of becoming a 'Global Top-tier' player. KT&G has announced its goal to increase the proportion of sales from overseas business to more than 50% of its total revenue by 2027 through future growth investments, and to become a global top tier company by strengthening its intrinsic competitiveness centered on overseas business. KT&G's efforts to expand its global business are already visible. As of the third quarter, KT&G's overseas cigarette sales amounted to 163.2 million pieces, the largest sales volume of the company for the second consecutive quarter. KT&G's representative product is the Superslim brand ESSE. KT&G is the No. 1 e-cigarette, Next Generation Products(NGP), health functional foods, and Combustible Cigarettes business in South Korea, and is also a global company with 5,184 employees and 717 brands in 143 countries around the world, including Kazakhstan, as of the end of 2023. The company is focusing on achieving its core KPI of "50% of sales from overseas business" by 2027, and Kazakhstan, its Eurasian production base, is expected to be a cornerstone in achieving this goal. Logo - https://mma.prnewswire.com/media/2316472/KT_G_Logo.jpg
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Company Codes: Korea:033780, OTC-PINK:KTCIY |
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