KT&G’s cigarette exports break records in 2017KT&G, Korea’s largest tobacco manufacturer, posted a record 1.48 trillion won ($1.37 billion) in global sales last year, the company announced Thursday.
The number of cigarettes sold overseas in 2017 also hit a record high. It sold 55.4 billion cigarettes worldwide last year. In 2016 it sold 48.7 billion cigarettes.
KT&G started exporting cigarettes in 1988. In 1999, it sold a mere 2.6 billion cigarettes overseas. In less than 20 years, its overseas sales expanded by 20 times, helping it become the world’s fifth-largest tobacco manufacturer.
KT&G’s global sales grew on the back of strong performance in Russia.
“A continuous recession in the global economy and the strong won which created an unfavorable condition for Korean exports makes it more meaningful that we have achieved 1 trillion won of global sales,” said Baek Bok-in, CEO of KT&G, in a statement.
By Jin Eun-soo
with the Korea JoongAng Daily
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