Citing regulatory documents recently released, the Korea Times reported that in 2020, KT & G's sales increased by 30.1% to 9.5 billion cigarettes. In terms of value, the company's sales rose 15.8% year-on-year to 193.7 billion won (US $171.68 million).
KT & G attributes its performance to its expansion into new markets and its customized strategy for different regions.
Last year alone, KT & G launched its products in 23 new markets, with more than 100 exporting countries.
In South Korea, KT & G's cigarette sales increased by 60 million cigarettes over the previous year. Driven by product launches such as "88 return", the company's domestic market share grew by 0.6% to 64.5%. This is a remarkable achievement when the cigarette market in South Korea shrank by 0.1%.
In the field of new tobacco, KT & G also released growth reports. The company's Lil tobacco heating non combustion products accounted for more than 60% of the market share in convenience stores in October.
Starting this year, the company intends to enter new markets. In the first quarter of 2020, KT & G signed a strategic partnership with PMI to export lil, and launched the product in Russia, Ukraine and Japan with positive feedback.