Korea Philip Morris Increases Production at Yangsan Factory for Overseas Exports

Overview of Korea Philip Morris Yangsan Factory.

[Asia Economy Reporter Eunmo Koo] Korea Philip Morris announced on the 23rd that it plans to increase the production volume at its Yangsan factory in Gyeongnam to supply tobacco products exclusively for export.

This production increase focuses on strengthening Korea Philip Morris's responsiveness to overseas markets and solidifying the importance of the Yangsan factory as a production base for its parent company, Philip Morris International. The expanded volume for export will begin production from the first half of this year.

Established in 2002, the Korea Philip Morris Yangsan factory has undergone continuous expansion over 20 years and currently employs about 600 workers. Since 2017, more than 300 billion KRW has been invested in building production facilities. The corporate tax payment of 10.9 billion KRW in 2020 is about ten times higher compared to when the company was founded.

Baek Young-jae, CEO of Korea Philip Morris, explained, “The increase in tobacco product production for export will be an important opportunity for Korea Philip Morris and the Yangsan factory to contribute more significantly to the regional and national economy in the future.”

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