KT&G has announced a KRW 2.2 trillion (USD 1.83 billion) contract with Dubai-based consumer giant Alokozay for a period of seven years and four months, The Korea Herald reported.

This is the South Korean tobacco company’s second global collaboration this year following the supply deal signed with PMI on Jan 29 to export the firm’s e-cigarettes globally for the next three years, the report said.
According to The Korea Herald, KT&G “cleared uncertainties in major overseas markets, which have stalled over the past two years due to an unstable situation in the Middle East and soaring foreign exchange rates.” KT&G is targeting overseas markets to create a balanced business portfolio in Korea and abroad with the goal of becoming a global “Big Four” company by 2025. The company plans to expand from 80 countries to 100 overseas countries this year, the report said.