South Korean KT&G invests nearly $135 million in tobacco production in Kazakhstan
A new tobacco manufacturing plant has been launched in the Kokozek village of the Almaty region, as reported by the region administration’s press service.
The plant was launched by the South Korean company KT&G, which has invested $134.9 million in the project, one of the largest manufacturing sites in the region. Once it reaches its full production capacity, it will be able to export its products to CIS markets and more broadly to many countries across Eurasia.
The government anticipates the plant will annually generate $48.2 million in tax revenue. Currently, the new tobacco factory provides jobs for 130 people and will hire more as it expands its activities.
«Kazakhstan is a promising market with big potential. We have no doubts about the bright future of this partnership,» said Director General of KT&G Kazakhstan Park Hyun-wook.
KT&G (Korea Tomorrow & Global) is the leading producer of tobacco, pharmaceuticals and health functional food in South Korea. It was established in 1899 as a ginseng production firm. In 1989, the company transformed from a state monopoly into a private corporation. Since then, KT&G has been actively expanding its geographical presence worldwide, including in CIS countries and Kazakhstan. It ranks among the top five tobacco companies in the world.
The construction of the new tobacco factory began in October 2023. Currently, the factory occupies 200,000 square meters of land near Almaty, the largest city in Kazakhstan.
