Kt G News Today

A former researcher at KT&G, the leading tobacco company in Korea, filed a damages suit Wednesday against his former employer, claiming that he invented the worlds first electronic cigarette while working for the firm, but was not properly rewarded.

KT&G, Koreas dominant cigarette maker, on Thursday appointed Senior Executive Vice President Bang Kyung-man as its new chief executive after shareholders endorsed his nomination at an annual meeting.

KT&G succeeded in appointing Senior Executive Vice President Bang Kyung-man as its new CEO, Thursday, overcoming opposition from the Industrial Bank of Korea (IBK), its largest shareholder, and the activist fund Flashlight Capital Partners (FCP), as well as from Institutional Shareholder Services, the world’s leading proxy adviser.

KT&G has launched construction of a new factory in Kazakhstan to expand its market in Eurasia, Koreas largest tobacco company said Thursday.

Tobacco and ginseng products maker KT&G received the highest credit rating of AAA from three major domestic rating agencies. That rating excludes financial and telecommunications companies. Korea Ratings, Korea Credit Rating and NICE Credit Rating announced the AAA rating, Sunday. Among private non-financial and non-telecommunications companies in Korea, KT&G is the sole entity to receive an AAA credit rating.

A growing number of Korean companies are expanding their corporate social responsibility (CSR) activities in Vietnam and other emerging markets as they seek to improve brand reputation and boost business presence, according to industry officials.

Korea Tobacco & Ginseng Corporation (KT&G) management has succeeded in defending itself from activist fund investors demands at its annual shareholders meeting earlier this week. The tobacco companys shareholders voted down all proposals suggested by activist funds, except their agenda item calling for quarterly dividends.

More than seven out of 10 listed Korean companies are set to hold annual shareholders meetings throughout this week and market watchers are paying particular attention to JB Financial and KT&G, whose annual meetings are expected to become the settings of proxy fights initiated by activist funds. JB Financial Group is facing a showdown in a proxy battle with Align Partners, a local activist fund, at its annual shareholders meeting on Thursday. Align Partners is the financial giants second-largest...

A group of activist funds filed an injunction against KT&G, Friday, in a move to table a set of thorny issues that have largely been dismissed by the Korean cigarette and ginseng product manufacturer, according to market watchers.

Philip Morris Korea introduced its latest heat-not-burn (hnb) product IQOS ILUMA ONE, Wednesday, as part of its efforts to surpass KT&G and reclaim its No. 1 spot in the growing e-cigarette market. IQOS ILUMA ONE is the latest smoke-free device unveiled by Philip Morris in three months after the introduction of IQOS ILUMA and IQOS ILUMA PRIME models last October.