KT&G completes Kazakhstan plant to accelerate growth in Eurasia
At a completion ceremony held Tuesday at the factory site in Almaty, Kazakhstan -- attended by KT&G CEO Bang Kyung-man, Almaty Gov. Sultangaziev Marat Eleusizovich, and Korean Ambassador to Kazakhstan Cho Tae-ick -- KT&G highlighted the new facility's role as both a core production base and an export outpost, designed to meet growing demand across the Eurasian markets and broader European region.
The Kazakhstan factory, spanning a total floor area of 52,000 square meters, houses three manufacturing lines and boasts an annual production capacity of 4.5 billion sticks.
'The completion of the new plant marks a key step in building our global manufacturing infrastructure, which will drive our international competitiveness," said CEO Bang Kyung-man. 'With a spirit of challenge, KT&G will continue to expand its global direct business to enhance both profitability and corporate value, while sharing the gains with our stakeholders.'
The Kazakhstan plant is part of KT&G's capital expenditure strategy, aligned with its goal of boosting global revenue growth.
The company aims to raise the share of international sales to 50 percent by 2027 by strengthening its core business competitiveness and expanding direct operations abroad.
In addition to the new facility, KT&G operates a global manufacturing network across plants in Korea, Indonesia, Russia and Turkey. Through this network, the company aims to establish fully localized value chains, managing everything from production and operations to distribution.
Also on Tuesday, KT&G signed a memorandum of understanding for the green globe project with the Kazakhstan Ministry of Ecology, Geology and Natural Resources and the Asian Forest Cooperation Organization, reinforcing its commitment to local environmental sustainability.
Through the initiative, KT&G will support reforestation and wildfire recovery efforts in the Abai region, which was affected by wildfires in June 2023. The project includes restoration support as well as the development of preventive measures.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Korea Herald
an hour ago
- Korea Herald
Seoul's MASGA initiative weighs anchor ahead of Lee-Trump summit
Korean president may visit Hanwha Philly Shipyard during US trip; acting US ambassador to Korea visits HD Hyundai's shipyard in Ulsan South Korea has promptly begun taking action to advance its US shipbuilding cooperation project dubbed 'Make American Shipbuilding Great Again,' or 'MASGA,' as Seoul prepares for the upcoming first summit between President Lee Jae Myung and US President Donald Trump. Minister of Industry, Trade and Energy Kim Jung-kwan on Thursday highlighted the importance of shipbuilding cooperation between Korea and the US as he attended the naming ceremony of two liquefied natural gas carriers, which were among the five LNG carriers ordered by an American client in 2022. "MASGA is a win-win package project that supports the revival of the American shipbuilding industry by investing in US shipyards, fostering skilled personnel and rebuilding supply chains while creating opportunities for our companies to enter a new market," said Kim in his congratulatory speech at the event. "To back up such efforts, the (Korean) government will set up a council of related institutes as soon as possible and work with the US on a constant basis to create concrete achievements." President Lee is set to visit the US from Aug. 24 to 26 and meet with Trump at the White House in Washington, DC, on Aug. 25. Seoul's presidential spokesperson Kang Yu-jung told reporters on Tuesday that there is a good chance Lee could visit Hanwha Philly Shipyard during his trip, possibly even accompanied by US officials. 'Based on the tariff negotiations, the two leaders are expected to discuss ways to further strengthen economic cooperation, including manufacturing sectors such as semiconductors, batteries and shipbuilding, and economic security partnerships such as high-tech and key minerals,' said Kang in a briefing. Hanwha Philly Shipyard, which was acquired by Korean conglomerate Hanwha Group for $100 million last year, is about 218 kilometers, or a drive of around two and a half hours, from the White House. Because the summit venue and the Korean-owned US shipyard are relatively close, speculation is brewing that Lee and Trump might both wear caps bearing the MASGA slogan to reemphasize their strong alliance. Korea previously presented the MASGA caps, which were designed after Trump's 'Make America Great Again' campaign hats, to US officials during the last-minute tariff negotiations in late July. John Phelan, US Secretary of the Navy, and Russ Vought, director of the White House Office of Management and Budget, also toured Hanwha Philly Shipyard on July 30, right before Korea and the US struck the tariff agreement, signifying the potential for the Korean-owned shipyard to help rebuild America's maritime manufacturing capabilities. HD Hyundai, another Korean shipbuilding conglomerate, announced that high-ranking officials from Korea and the US visited the headquarters of HD Hyundai Heavy Industries in Ulsan on Wednesday to discuss ways to enhance Korea-US shipbuilding cooperation. According to HD Hyundai, a briefing on the company's shipbuilding capabilities and technologies was provided to Minister of Foreign Affairs Cho Hyun, acting US Ambassador to Korea Joseph Yun and National Assembly Foreign Affairs and Unification Committee Chairman Kim Seok-ki. The officials were also given a tour of the shipyard. 'Seeing the shipyard firsthand has strengthened my confidence in the MASGA project's success. We will closely follow its progress to ensure that it moves forward smoothly,' said Cho. Several members of the National Assembly's Foreign Affairs and Unification Committee also joined the visit as lawmakers reviewed measures to support the success of the MASGA project. 'With the MASGA project emerging as a new symbol of the Korea-US alliance, HD Hyundai is committed to playing our part and providing support for its success,' said Lee Sang-kyun, CEO of HD Hyundai Heavy Industries. 'We look forward to advancing the interests of both nations and the future of the shipbuilding industry.' Both Hanwha and HD Hyundai have been actively seeking ways to advance shipbuilding partnerships with the US, securing maintenance, repair and overhaul, or MRO, contracts with the US Navy while expanding partnerships with American shipyards. Earlier this month, Seoul said MASGA played a critical role in reaching the final tariff deal with Washington as the Trump administration has been reiterating the need to revive America's shipbuilding industry and curb China's dominance in the global shipbuilding sector. For MASGA, Korea committed a $150 billion shipbuilding cooperation fund for domestic shipbuilders to invest in the US and back the American shipbuilding sector's revitalization.
Korea Herald
3 hours ago
- Korea Herald
S. Korea to launch consultative body to support MASGA project: industry minister
The South Korean government will launch a consultative body of relevant ministries to support the shipbuilding cooperation initiative with the United States, the industry minister said Thursday, noting the project will create new opportunities for the Korean shipbuilding industry. Industry Minister Kim Jung-kwan unveiled the plan during the naming ceremony of two liquefied natural gas carriers to be delivered to the US by Korean shipbuilding giant Hanwha Ocean Co., held at the company's shipyard in Geoje, about 330 kilometers southeast of Seoul, according to the Ministry of Trade, Industry and Energy. "The government will swiftly form a consultative body comprising relevant agencies to support the Make American Shipbuilding Great Again project, while closely communicating with the US side to create tangible results," he said. MASGA refers to South Korea's proposal for bilateral shipbuilding cooperation with the US made during its tariff negotiations with the Donald Trump administration. Late last month, the Seoul government struck a trade deal with the Trump administration by pledging to invest $150 billion in the MASGA project and another $200 billion for bilateral cooperation in strategic industries, such as semiconductors, batteries and biotech. "MASGA is a win-win project that supports the revitalization of the US shipbuilding industry by facilitating investment in American shipyards, while helping them nurture a skilled workforce and rebuild supply chains," Kim added, according to the industry ministry. "The project will also create new opportunities for our companies to enter new markets." The ministry said Hanwha Ocean's recently constructed LNG carriers are the first two out of five vessels to be delivered to the US for the latter's LNG exports. Hanwha won the order, worth $1.2 billion, in 2022. The deal reaffirms the top-tier competitiveness of Korean shipbuilders in the high-value LNG carrier market, the ministry said, noting that more than 70 percent of 760 LNG carriers currently operating worldwide have been built by Korean shipbuilders. Notably, in the first half of this year, Korean companies secured 100 percent of global LNG carrier orders, the ministry highlighted. Following the naming ceremony, the industry minister also met with Hanwha Ocean officials and the crew members of US Navy vessel Charles Drew at the Geoje shipyard. Hanwha Ocean is currently providing maintenance, repair and overhaul services for Charles Drew, which is the third US naval vessel to undergo MRO at the Hanwha shipyard. "The US naval vessel MRO project represents the starting point of Korea-US shipbuilding cooperation, and just like the previous two MRO projects, we hope Charles Drew will be reborn as a new ship through the advanced capabilities of Korean shipbuilding," Kim said. In August last year, Hanwha secured an MRO contract for the US Navy's logistics support ship Wally Schirra, marking the first such deal for a Korean shipbuilder. In November, it also won an MRO deal for the replenishment oiler Yukon. (Yonhap)
Korea Herald
4 hours ago
- Korea Herald
O.NE People and Prighter Forge Alliance to Deliver AI-Driven Privacy Compliance Solutions Worldwide
– Partnership to accelerate expansion in Asian and European markets and advance global data protection standards – SEOUL, South Korea, Aug. 13, 2025 /PRNewswire/ -- People, a leading South Korean provider of AI-powered personal data protection automation solutions, has signed a strategic Memorandum of Understanding (MOU) with Prighter GmbH, a Vienna-based global leader in privacy compliance and representative services. The signing ceremony, held at People's Seoul headquarters, brought together Ayoung Cho, CEO of People, and Andreas Mätzler, CEO of Prighter, to formalize the partnership. The agreement sets the stage for a close, long-term collaboration in the global personal data protection and compliance sector. Through this alliance, the two companies will: People's flagship solution, CATCHSECU, is a SaaS platform that automates the full privacy compliance process for personal data—from collection to secure disposal—helping organizations meet the world's most stringent privacy regulations. Trusted by more than 3,000 corporate and public sector clients, CATCHSECU enables businesses to streamline compliance, reduce personal information related risks, and enhance operational efficiency. Prighter specializes in providing local representative services under the EU's General Data Protection Regulation (GDPR) and other national data protection laws. With operations in the UK, Switzerland, Turkey, and China, Prighter's extensive global network supports organizations in meeting complex regulatory requirements. "Partnering with Prighter gives us the foundation to bring CATCHSECU to even more businesses around the globe," said Ayoung Cho, CEO of People. "By leveraging our combined expertise, we aim to strengthen and expand the global data privacy ecosystem." "We are excited to work with People, one of South Korea's most innovative data privacy solution providers," said Andreas Mätzler, CEO of Prighter. "Together, we can deliver meaningful impact across Asia and the broader global data protection landscape." About People Founded in 2018, People helps organizations comply with personal data protection regulations through its AI-powered SaaS platform, CATCHSECU. The solution automates the entire personal data lifecycle, including consent form generation, encryption, masking, automated disposal, and access control. Serving more than 3,000 organizations worldwide, People enables clients to minimize legal risks and maximize operational efficiency. About Prighter GmbH
