Chief Executive Officer (President) Bang Kyung-man of KT&G said on the 26th that "although a challenging environment such as stronger protectionism and a high exchange rate is expected, we will maintain a stable growth trajectory through strategic selection and focus."
Bang stated accordingly at the regular shareholders meeting held this morning at the Human Resources Development Center at KT&G's headquarters in Daedeok-gu, Daejeon, saying it is "an important moment when we must achieve a higher level of profitability and efficiency on the growth foundation we have built."
KT&G plans to qualitatively advance the revenue structure of its overseas cigarette business this year. Bang explained, "Beyond simple top-line growth, we will continue revenue-centered qualitative growth through country-specific, sophisticated pricing strategies and the full-scale operation of a 'local end-to-end production system.'"
He also mentioned strengthening competitiveness in NGP (heated tobacco products). He said, "We will accelerate the launch of a differentiated innovation platform based on research and development (R&D) by reinforcing technological innovation and overseas business capabilities," adding, "We will maximize global partnership synergies to secure a competitive edge in the non-combustible category."
The shareholder return policy will also be strengthened. Bang said, "To share management results with shareholders, we will actively implement shareholder return policies such as expanding dividends and buying back and canceling treasury shares," adding, "We will fulfill our responsibility as a leading corporations in Korea Value-Up."
At the shareholders meeting, all major agenda items were approved as originally proposed, including: ▲ approval of the 39th-term financial statements and statement of appropriation of retained earnings ▲ partial amendments to the articles of incorporation ▲ revisions to the rules on severance pay for inside directors ▲ appointment of outside directors and audit committee members ▲ approval of the limit on directors' remuneration ▲ approval of the plan for holding and disposing of treasury stock.