KT&G to release new heat-not-burn products in S. Korea

SEOUL, Nov. 9 (Yonhap) -- KT&G Corp., South Korea's dominant tobacco company, said Wednesday it will add all-new heat-not-burn products in the domestic market to strengthen its cigarette-focused lineup.

KT&G will release the lil ABLE heat-not-burn or smokeless tobacco product and its premium version lil ABLE PREMIUM initially for local customers on Nov. 16, the company said in a statement.

Heat-not-burn products are electronic devices that, unlike e-cigarettes, contain tobacco. The tobacco is heated to a high temperature without setting it alight and creating smoke that the user sucks in.

In the July-September quarter, KT&G's net profit jumped 29 percent to 463 billion won (US$325 million) from 359 billion won a year earlier, helped by increased exports and a weak won.

Currently, KT&G earns 90 percent of its overall sales from the cigarette business division and the remaining 10 percent from the heat-not-burn division.

The company has been stepping up efforts to increase sales in the non-cigarette business division.

From January to September, net income climbed 21 percent to 1.06 trillion won from 878.58 billion won in the same period of last year.

kyongae.choi@yna.co.kr
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