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Philip Morris Korea to receive export award from government

September 30, 2015

By Park Si-soo

Philip Morris International (PMI) Korea will receive an export award from the government in recognition of shipping $100 million worth of cigarettes this year, the company said Wednesday.

The Korean unit of the British tobacco maker has exported cigarettes worth $130 million so far this year, it said. The award ceremony will be held on the 52nd Trade Day in December.

The company exports cigarettes produced at its plant in Yangsan, South Gyeongsang Province, to nearly 10 countries, including Australia, Japan, Taiwan and Hong Kong.

“Our exports have increased significantly after opening the new plant in 2012,” PMI Korea said in a press release. In 2013, the company exported cigarettes worth $35 million and it jumped to $65 million the following year.

“The advanced facilities and cutting edge technologies we have in the plant have led to time and cost efficient manufacturing,” it said.

Chong Il-woo, PMI Korea CEO, said he is committed to further advancing the facilities to increase exports.

“It would have been impossible for us to reach the milestone without our state-of-the-art manufacturing facilities, skillful workers and tenacious efforts to improve the quality of products,” Chong said. “We will try harder to expand exports, which will contribute to revitalizing the domestic economy.”

PMI Korea’s sales last year were estimated at 703 billion won, with 188 billion won in operating profit.