Korean Tobacco enters Turkish market

Turkish Daily News - The Korean Tobacco and Ginseng Corporation (KT-G) begins production at its new factory established in the Tire Industrial Zone in Izmir. The South Korea-based company plans to produce four types of cigarettes in Türkiye. The company's entrance in Türkiye, just after the sale of cigarette department of Türkiye's alcohol and tobacco monopoly (TEKEL) to British American Tobacco, will heat the competition in Türkiye's YTL 20-billion market, where 110 billion cigarettes are sold annually. The company “will produce for domestic consumption as well as for exports to Europe, Iran and the Turkic Republics,” said Necati Gun Akal, coordinator at KT-G Türkiye. The company is aiming for the Turkic Republics in order to gain a foothold against European and U.S. giants.