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SOUTH KOREA

BAT Korea launches new product

26 Nov 2019. BAT Korea has announced that the glo pro tobacco heating device will be available to purchase in Korea from 2 December, Yonhap News Agency reported.

The move comes as BAT Korea strives to meet local customer demands. BAT Korea Chief Executive, Kim Eui-soung, told a press conference, “Consumer demands have been rapidly changing in the past two to three years. We are preparing products in a variety of categories to meet diverse needs of Korean customers.”

The glo pro device has a shorter heat-up time compared to other devices which have already been launched, with the device needing 20 seconds to heat up in “advanced” mode and 10 seconds in “boost” mode. According to the report, BAT Korea has diversified the products available in order to boost sales in the domestic market, due to tougher competition from brands such as KT&G Corp. and Philip Morris International.

Kim Eui-Song told the press conference, “We are thinking of this year as the first year of making a turnaround on the back of new products. We are targeting becoming one of the fastest growing companies in the tobacco industry from next year.” The tobacco industry in Korea is currently dominated by KT&G, who account for 60 per cent of the market when e-cigarettes are not included. PMI currently makes up 23 per cent of the market and BAT has a 14 per cent stake.