KT&G Sales in South Korea Rise by Nearly One-Third
The Korea Times, citing recently released regulatory filings, reported that in 2020 KT&G's sales grew 30.1% to 9.5 billion cigarettes. In value terms, the company's sales rose 15.8% year-on-year to 193.7 billion won ($171.68 million). KT&G attributed its
According to recently released regulatory filings cited by The Korea Times, KT&G’s sales volume rose 30.1 percent in 2020 to 9.5 billion cigarettes. In value terms, the company’s sales increased 15.8 percent year over year to KRW 193.7 billion (USD 171.68 million).
KT&G attributed its performance to expansion into new markets and customized strategies tailored to different regions.
In the past year alone, KT&G launched its products in 23 new markets, bringing the total number of export destinations to more than 100 countries.
In South Korea, KT&G’s cigarette sales increased by 60 million sticks from the previous year. Driven by the launch of products such as “88 Return,” the company’s domestic market share rose 0.6 percentage points to 64.5 percent. This was a remarkable achievement at a time when the South Korean cigarette market contracted by 0.1 percent.
In the vaping segment, KT&G also posted growth. The company’s Lil heated tobacco products captured more than 60 percent of the convenience store market in October.
Starting this year, the company plans to enter additional new markets. In the first quarter of 2020, KT&G signed a strategic partnership with PMI to cooperate on exporting Lil, and the product was launched in Russia, Ukraine, and Japan, where it received positive feedback.
