Philip Morris International Inc. said Monday it reached a 15-year collaboration agreement with South Korean tobacco and nicotine maker KT&G Corp. to...
Philip Morris International Inc. PM said Monday it reached a 15-year collaboration agreement with South Korean tobacco and nicotine maker KT&G Corp. KR:033780 to commercialize KT&G’s smoke-free devices and consumables on an exclusive, worldwide basis, excluding South Korea. PMI CEO Jacek Olczak said the collaboration “will accelerate the achievement of a smoke-free future” with alternative tobacco products.
033780 to commercialize KT&G’s smoke-free devices and consumables on an exclusive, worldwide basis, excluding South Korea. PMI CEO Jacek Olczak said the collaboration “will accelerate the achievement of a smoke-free future” with alternative tobacco products. The companies did not provide details on the financial structure or payments of the deal, but said it includes a “total commitment for the first three-year period equivalent to 16 billion consumables.
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