KT&G, BlackRock Expands Stake to 6.15%

*This content was translated by AI.

BlackRock announced that it has increased its stake in KT&G to 6.15% for simple investment purposes.

According to the Electronic Financial Reporting System, as of the end of January, BlackRock held a 5.01% stake in KT&G. Since then, it acquired an additional 467,350 shares in about four months, bringing its stake ratio up by 1.14 percentage points to 6.15%.

Earlier, on the 9th, U.S. asset management firm Capital Group increased its holdings to 7.21%, and as global asset managers continued to expand their stakes in KT&G, the foreign ownership ratio of KT&G reached 51.24% as of the 10th.

KT&G reported consolidated sales of 1.7036 trillion won and operating profit of 364.5 billion won in the first quarter, achieving strong results with year-on-year increases of 14.3% and 27.6%, respectively. In particular, the overseas heated tobacco business saw sales and operating profit rise by 24.6% and 56.1% year-on-year in the first quarter due to strategic price hikes, showing a structural growth trend.

A KT&G official, speaking to this newspaper by phone, evaluated that the expansion of stakes by global asset managers served as an opportunity to confirm the capital market's trust in the company's mid-to-long-term vision and future growth potential.

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*This content was translated by AI.