KT&G's Share Falls Below 70 Percent

Source from:  tr.itsmyiq.com Jul 25, 2007 07/26/2007

The market share accounted for by domestic brands in South Korea has fallen below 70 per cent for the first time since the opening of the country's tobacco market to foreign competition in 1988, according to local reports. KT&G's share during the second quarter of this year was 69.3 per cent, lower than the previous low of 70.1 per cent during the first quarter of 2005. A KT&G company official said that the corporation was determined to recover its market share by launching new products in the second half of this year. In 2000, two years after the market was opened, KT&G's share still stood at 90.6 per cent, but by 2002 it had dropped to 78.7 per cent. Enditem