Korean firm to invest $130 million to construct eco-friendly facilities
KT&G announced on Aug. 29 that South Korea’s leading tobacco manufacturer would build a new printing plant in Sejong, some 110 kilometers south of Seoul.
Toward that end, KT&G headed by CEO Baek Bok-in signed a memorandum of understanding with Sejong Special Self-Governing City, whose mayor is Choi Min-ho.
Under the bilateral agreement, KT&G is scheduled to invest about 180 billion won ($130 million) with the goal of completing the printing factory by 2025.
“The top goal is to attract good companies to Sejong City in order to make this city an economically self-sufficient city,” Sejong Mayor Choi said.
“We will fully support related licenses so that corporate investment can be implemented well.”
The new factory is set to roll out all the wrapping paper and paper boxes of tobacco products for KT&G, adopting state-of-the-art logistics automation and smart manufacturing processes.
Plus, KT&G said that it plans to raise the utilization rate of new and renewable energy, including solar power, through the construction of eco-friendly factories and upgrading the air and wastewater treatment infrastructure.
“It is very meaningful to sign an MOU with Sejong Special Self-Governing City for the ‘Print Factory Construction Project,’” a KT&G official said.
“We will contribute to the realization of green cities through the establishment of eco-friendly printing plants and carry out social contribution activities such as support for the local underprivileged.”