Philip Morris International to Distribute KT&G Smoke-Free Products Overseas
Under a new agreement, Philip Morris International (PMI) will commercialize KT&G’s smoke-free products outside South Korea. PMI aims to expand its smoke-free portfolio worldwide for adult smokers.
Under the terms of a new agreement, Philip Morris International (PMI) will commercialize KT&G's smoke-free products outside of Korea.
“To realize PMI's vision of a smoke-free future, we must expand smoke-free products globally, and that requires multiple companies to offer adult smokers more and better choices. While IQOS remains the leading product in the smoke-free category, we plan to launch IQOS Mesh in the coming months to expand our portfolio, but we believe more collaboration will give adult smokers more options and drive faster global adoption of smoke-free products, benefiting them,” said PMI CEO Andre Calantzopoulos.
The initial term of the agreement is three years and allows PMI to exclusively distribute KT&G's current smoke-free products and their derivatives. However, it does not restrict PMI from distributing its own or third-party products.
KT&G is South Korea's leading tobacco and nicotine company. Its smoke-free products include the heated tobacco systems Lil Mini and Lil Plus, the Lil hybrid that combines heated tobacco and vaping technology, and the vapor e-cigarette product Lil Vapor.
PMI and KT&G will seek any necessary regulatory approvals depending on the requirements of different markets.
The agreement does not involve traditional cigarette products, and there are currently no plans to commercialize KT&G products in the United States.
