KT&G expanded its Sintanjin Next Generation Products (NGP) plant.
Hyundai Motor President Baek Bok-in and more than 40 employees attended the commemorative ceremony that day and promised to develop the NGP business into a first-class business.
KT&G added three new e-cigarette stick production lines this year, bringing the total number of production lines to eight. It has also built an automated warehouse capable of storing up to 360,000 boxes.
KT&G plans to further expand the production innovation center, focusing on domestic manufacturing plants such as Sintan Town and Gwangju, to ensure smooth response to the rapidly growing demand for NGP products.
The expansion of the Sintanjin NGP plant is part of the investment plan presented by KT&G at its Future Vision Statement event in January.
At that event, KT&G announced that its strategy would focus on the international expansion of its e-cigarette, heated tobacco and combustible cigarette businesses. The company plans to increase its revenue share from non-combustible products to over 60% by 2027 through investment and innovation.
In September, KT&G announced the construction of a new factory in Indonesia that will produce export products. In October, the company broke ground on a new factory in Kazakhstan, establishing a foothold in Eurasia.
President Bai said in the statement: "The Xintan Town NGP plant will become a growth engine that improves the core competitiveness of the NGP business, thus consolidating its market leadership."
"In the future, we will lead the growth of the NGP business based on innovative technologies and advanced global partnerships, and leap to 'global first-class' through domestic innovation growth investments such as expanding production infrastructure."
