South Korea’s leading tobacco company KT&G announced Monday the completion of additional manufacturing facilities in Turkey as part of a strategy to solidify its position as a global top-tier company.
The expansion added two new production facilities to the factory, increasing its total ground area by approximately 1.5 times to 25,000 square meters. With the upgrades, the company’s four facilities can now produce up to 12 billion cigarettes annually, enabling KT&G to meet growing demand in North Africa and Latin America.
KT&G has been expanding its global footprint since establishing its first overseas factory in Turkey in 2008. The company is currently working on additional projects, including new factories in Indonesia and a facility in Kazakhstan, set to be completed this year.
Centered on its overseas production hubs, KT&G seeks to boost profitability by establishing a comprehensive value chain that integrates production, sales and supply.
These efforts align with initiatives announced in early 2023 to enhance the company’s global presence. As part of its strategy, KT&G plans to raise the proportion of global sales to over 50 percent.
“By strengthening our production capabilities in Turkey, we are taking significant steps toward becoming an unmatched global leader,” CEO of KT&G Bang Kyung-man said in a statement. “We will continue to focus on our three core businesses while enhancing our competitive edge.”
en23mp@heraldcorp.com
