- Office to corporation conversion reinforces local operations heightening global competitiveness
SEOUL, South Korea, Jan. 13, 2025 /PRNewswire/ -- KT&G (KRX: 033780) is establishing a corporation in Uzbekistan handing local operations for earnest market expansion and increased profitability, aiming to strengthen competitiveness in the Eurasian region.
In 2023, KT&G set up an office in Uzbekistan and entered the market with the superslim brand "ESSE".
Through the corporation conversion of the Uzbekistan office, KT&G plans to reinforce long-term competitiveness in the Eurasian region. To increase market presence, KT&G will increase the size of the local workforce by four times, and continue to widen distribution coverage by establishing detailed operational networks.
KT&G also plans to grow "ESSE" as a major brand in the Uzbekistan market, anticipating revenue and profit growth from market expansion.
KT&G has established regional CIC's (Company-In-Company) in Eurasia and the Asia-Pacific regions to facilitate global business expansion. KT&G currently is operating in 132 countries across the globe through six sales corporations and three branches. Going forward, KT&G will continue to expand its global corporations to support direct global operations and continue efforts to increase profitability.
A KT&G spokesperson said that "the establishment of the Uzbekistan corporation is part of the ongoing investment and innovation for the leap to a 'Global Top-Tier.' KT&G will continue its global growth trends by reinforcing local operations."
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