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SOUTH KOREA

KT&G wants to become global No 4

28 Jul 2020. South Korean tobacco company KT&G announced that it seeks to become the fourth-largest tobacco company in the world by 2025, by expanding its sales network in emerging markets and introducing new e-cigarette products to global consumers, Korea Times reported.

"KT&G aims to increase the number of exporting countries from 80 to over 200 by 2025," the company said in a statement. "Through this, we set the new goal of becoming the No 4 tobacco company in the global market by then."

According to the report, KT&G was the No. 5 tobacco maker in the world by sales volume and market share as of 2016, an accomplishment that came less than 20 years after first entering the global market in 1999. In order to achieve its new goal, KT&G said it has been striving to enter new markets. In recent years, the company's exports to new markets in Africa, South and Central America and the Asia-Pacific region have increased sharply, reducing its previous strong reliance on Middle East markets, the report said.