SEOUL, South Korea – During its 37th Annual General Meeting of Shareholders held at the KT&G Human Resources Development Center in Daejeon, South Korea, KT&G Corporation (KRX:033780) announced the appointment of Kyung-man Bang as the new President (CEO) and Representative Director. The appointment garnered overwhelming support from shareholders, highlighting the confidence in Bang’s leadership to steer the company toward future success.
Kyung-man Bang expressed his gratitude towards shareholders for the trust they placed in him and acknowledged the employees’ relentless efforts in both domestic and international markets. “We are committed to achieving our vision of becoming a ‘Global Top-tier’ company by leveraging our three core business areas- Overseas Combustibles, Next Generation Product, and Health Functional Food- as the cornerstone for growth,” Bang stated. He emphasized the company’s dedication to enhancing corporate value and establishing a robust foundation of trust with stakeholders through profit sharing.
Bang also introduced the ‘T-O-P strategy,’ a new business framework aimed at propelling KT&G towards its ‘Global Top-tier’ vision. This strategy revolves around ‘Trust,’ ‘Origin,’ and ‘Professionalism’ to enhance stakeholder engagement, maintain a first-mover advantage, and secure global expertise through continuous growth. He urged employees to embrace new challenges, building on KT&G’s legacy of resilience and aspiration for success.
Having joined Korea Tobacco and Ginseng, KT&G’s predecessor, in 1998, Bang has held various significant management roles within the company. His leadership in brand management and strategy planning, particularly during his tenure as Managing Director of Brand Management and Executive Managing Director of Global Headquarters, has notably contributed to KT&G’s domestic market dominance and expansive international presence. Under his guidance, KT&G achieved a landmark 1 trillion KRW in overseas sales, marking a significant milestone in the company’s history.
As Chief Operating Officer, Bang has been instrumental in implementing the company’s mid-to-long term growth strategies, focusing on Overseas Combustibles, Next Generation Product, and Health Functional Food business areas. His contributions have significantly bolstered the company’s direct business model for overseas combustibles, rapid growth in next-generation products, and the establishment of localized value chains for the health functional food business overseas.
The AGM also saw the appointment of Dong-hwan Shon and Sang-wook Kwak as Outside Directors, with Kwak also serving as an Audit Committee member. A KT&G spokesperson stated, “We are fully dedicated to driving the company’s growth and enhancing shareholder value, with the newly formed Board of Directors leading the change at the forefront.”
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About KT&G Corporation:
KT&G Corporation (KRX:033780), established in South Korea, is a leading provider of comprehensive solutions in the tobacco and ginseng industries. With a rich history and a vision for global expansion, KT&G has committed itself to innovation and excellence. The company’s diverse portfolio includes overseas combustibles, next-generation products, and health functional food, all aimed at delivering superior value to customers and stakeholders worldwide. As a pioneer in the industry, KT&G continues to set benchmarks for quality and sustainability, striving to achieve its ‘Global Top-tier’ vision by harnessing the power of technology and innovation.
