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KT&G (CEO Bang Kyung-man) posted its highest-ever first-half revenue, driven by strong overseas performance and its profitability-focused growth strategy, while operating profit continued to grow by double digits year over year for the fourth consecutive quarter. The company announced on August 6 at its earnings briefing that it would raise its full-year performance outlook accordingly. According to the company, consolidated revenue in Q2 reached KRW 1.7016 trillion and operating profit stood at KRW 414.5 billion, marking a year-on-year increase of 9.9% and 18.5%, respectively. Accordingly, KT&G raised its full-year guidance, increasing its revenue growth outlook from the previous 3–5% to 5–7% and its operating profit growth outlook from 6–8% to 10–13%. Revenue from its core tobacco business increased 11.7% year over year to KRW 1.2185 trillion, while operating profit grew 18.8% to KRW 382.5 billion, driving the group’s overall performance . In particular, the overseas cigarette business continued to deliver strong growth in both volume and quality despite a highly volatile external environment, including the war in Iran. Second-quarter overseas cigarette revenue increased 18.9% year over year to KRW 557.7 billion. Operating profit also rose 45.6% from the same period last year, driven by sales volume growth and the effects of strategic price increases. The domestic cigarette business maintained its overwhelming top position, with a 67.9% market share in the first half of the year. The NGP (Next Generation Products) business further solidified its No. 1 position, recording a 48.2% market share as NGP consumption continued to expand in Korea. NGP revenue increased approximately 23.8% year over year to KRW 242.7 billion, driven by the growing share of premium sticks following the successful launch of “lil AIBLE 3.0” in February. KT&G also plans to diversify its NGP portfolio by launching new products incorporating innovative technologies in the second half of the year. Through these efforts, the company aims to further solidify its market share. KGC’s health functional food business posted a slight increase in second-quarter revenue. Domestic revenue reached KRW 174.2 billion, up 7.8% year over year, driven by promotions linked to support payments for households affected by high oil prices during Family Month, as well as the effects of brand campaigns for “Gidarim Agarwood” and “Everytime.” Overseas revenue fell by KRW 9.4 billion to KRW 49.6 billion due to inventory adjustments in China’s distribution channels. Operating profit from health functional foods rose 61.3% year over year to KRW 10 billion, driven by increased sales through high-margin channels. KT&G also decided to increase its dividend. On August 6, the Board of Directors resolved to raise the interim dividend by KRW 600 from last year’s KRW 1,400 to KRW 2,000, further strengthening the company’s high-dividend policy on the back of strong earnings. The company also plans to consider increasing its year-end dividend based on earnings growth and its capacity for shareholder returns. Meanwhile, KT&G fully retired its treasury shares in April, achieving ahead of schedule its treasury share cancellation target under its Corporate Value Enhancement Plan for 2024–2027, announced at the end of 2023. The company also plans to announce a new mid- to long-term shareholder return policy, including enhanced dividends, in the fourth quarter. The planned share repurchases and cancellations in the second half of the year will proceed as scheduled. KT&G COO Lee Sang-hak stated, “Our revenue and operating profit both increased, driven by a significant rise in operating profit from our overseas business and strong growth momentum in our domestic NGP business. Building on this earnings growth, we will continue to pursue shareholder return policies, including high dividends and treasury share repurchases and cancellations, to enhance shareholder value.”