SEOUL-- KT and G Corp., South Korea's leading tobacco maker, said Thursday it will expand its business in the emerging markets with an aim to quadruple overseas sales by 2025.
The tobacco maker said it plans to establish regional offices in the Asia-Pacific, America, Africa and Eurasia regions to better cater to the needs of local consumers.
KT and G, which accounts for 60 percent of the local tobacco market, posted 941.4 billion won (US$868 million) in sales from abroad last year and expects this year's tally to set a new record, according to the company.
The Korean firm has been putting efforts into securing the lead position, unveiling its new tobacco-heating device earlier this month amid growing popularity of heat-not-burn (HNB) products released by its foreign rivals.
The HNB tobacco market has been rapidly expanding here with the launch of British American Tobacco's glo in August and Philip Morris International Inc.'s IQOS earlier in June.
Source: Yonhap News Agency