By Kim Hyun-bin

KT&G unveiled the group's goals to become a global top-tier company at the KT&G future vision proclamation ceremony held at KT&G Sangsang Planet in Seoul, Thursday.

CEO Baek Bok-in unveiled the "2027 KT&G Vision," focusing on three core businesses: next-generation products (NGP), dry foods (health functional food) and the global conventional cigarette (CC). KT&G plans to nurture NGP and dry foods as the company's core growth businesses through its new business portfolio strategy.

CEO Baek Bok-in speaks about the company's vision during a ceremony held at KT&G Sangsang Planet in Seoul, Thursday. Courtesy of KT&G

KT&G revealed its aspirations for long-term, large-scale investment and global market expansion, emphasizing its will to become a global top-tier company. The company aims to achieve sales of 10 trillion won by 2027 based on investments of about 4 trillion won in core business areas over the next five years, and to pull up the ratio of global business in total sales to 50 percent.

"KT&G has pushed for the acceleration of the global growth of its core businesses and has been breaking sales records every year for the past five years. We will be reborn as a global top-tier company through aggressive investment and innovation," an official from KT&G said. "We will quickly seize opportunities in the global market to unleash higher future growth potential."

The company announced that it would focus on securing more advanced innovative technology capabilities, expanding global production capacity, and prioritizing the global expansion of the rapidly growing NGP business.

In addition, Korea Ginseng Corp's (KGC) dry food business is becoming a key growth engine to target overseas markets, specifically the U.S. and China. It aims to achieve more than 2 trillion won in sales in the NGP and dry food businesses respectively by 2027 and plans to maximize business performance by actively seeking synergy opportunities between the dry food and pharmaceutical industries.

Additionally, KT&G held an online company briefing session on the same day to communicate with shareholders and capital market officials. Currently, KT&G is faithfully implementing its three-year shareholder return plan, which is worth about 2.75 trillion won from 2021. It is expected to pay 5,000 won in dividends per share this year, an increase of 200 won from the previous year.