The local operation of British American Tobacco announced on Monday that it will lower the price of KENT Convertibles to 2,300 won ($2.10) a pack, down 400 won from the current 2,700 won, starting Oct. 1.

“We believe the price repositioning of KENT will provide additional choice for consumers who are seeking high-quality products at a more affordable price range,” said Guy Meldrum, the chief executive of BAT Korea.

The under-2,500 won cigarettes comprise about 15 percent of the local tobacco market, the country’s first maker of capsule-inserted cigarettes said.

Earlier, Philip Morris Korea, one of BAT’s domestic rivals, said it would lower the price of Lark Premium One to 2,500 won from the current 2,700 won, also from Oct. 1.

(joowonc@heraldcorp.com)