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[Alpha Biz=(Chicago) Reporter Kim Jisun] KT&G announced on the 11th that it held an agreement ceremony to receive an investment application from the Indonesian Ministry of Investment for the construction of a new plant, an export outpost, in East Java, Indonesia.
As the Indonesian Ministry of Investment expressed its willingness to actively support investment, the KT&G will further refine its investment plan for the construction of a new plant in Indonesia.
The Indonesian Ministry of Investment provides various conveniences and support in accordance with local laws and regulations. The KT&G said it will proceed with necessary procedures, including board resolutions, once major matters such as the amount, method and target of the investment are decided.
The new plant to be established in Indonesia is aimed at its first operation in 2026. The products produced will be exported to Southeast Asia and other countries. Through this, KT&G plans to make Indonesia a production base for overseas export products and focus on expanding overseas markets.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
