Korea Philip Morris said on the 29th that it will appoint Lee Hong-seok, director overseeing smoke-free products, as the new CEO effective on the 1st of next month.
Since joining Korea Philip Morris in 1999, the new CEO has built a track record in key areas such as commercial and strategy. At Korea Philip Morris, Lee held a range of major roles across commercial operations and marketing. After gaining leadership experience in Singapore and Hong Kong, Lee was appointed head of Philip Morris Taiwan in 2018.
After returning to Korea in 2021, Lee served as head of commercial operations and head of smoke-free products.
Korea Philip Morris said it expects Lee's leadership to help the company accelerate innovation centered on smoke-free products while pursuing sustainable and responsible growth.
Lee said, "Korea Philip Morris has consistently driven a transition centered on smoke-free products based on science-based innovation," adding, "We will continue to offer adult smokers better choices while further strengthening our foothold in the Korean market."
Lee added, "We will further strengthen cooperation with the government, public health experts, and various stakeholders so that efforts to transition to smoke-free products can contribute to Korea's broader public health goals."