National Pension Fund Approves Candidates for KT&G Leadership

Business by 2FIRSTS.ai
Mar.25.2024
National Pension Fund Approves Candidates for KT&G Leadership
Korean National Pension Fund approves Fang Qingwan as KT&G CEO candidate, supports Sun Donghwan as external director candidate.

According to South Korean media Naver, on March 22, the South Korean National Pension Fund, one of the three major shareholders of the tobacco manufacturer KT&G, has approved the appointment of Fang Qingwan as a candidate for the president of KT&G. The Trust Responsibility Professional Committee of the National Pension Fund decided to approve the nomination of Mr. Fang as the president candidate at a meeting on the 21st.

 

The National Pension Fund holds approximately 6.2% of KT&G's shares, further increasing the likelihood of Chang Won as the new CEO of KT&G. Simultaneously, the National Pension Fund has also decided to support the election of Professor Sun Dong-hwan as an external director candidate.

 

In the recent KT&G shareholders meeting, a new "cumulative voting system" was introduced, allowing each shareholder to freely cast 2 votes per share. The National Pension Fund plans to cast one vote for candidate Bang Gwang-wan and one vote for candidate Son Dong-hwan.

 

Professor Sun Donghuan has been nominated as an external director candidate by corporate bank and activist fund Flashlight Capital Partners (FCP), in an effort to counter the CEO nomination of Fang Qingwan. He is currently competing against Lin Minki, an external director candidate recommended by the KT&G board.

 

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn


Notice

1.  This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2.  The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3.  This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4.  Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

 

Copyright

 

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

 

AI Assistance Disclaimer

 

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

Russia Expands Temporary Administration of JTI Assets in Second Round: From Four to All Seven Russian Entities, With Approximately $9.5 Billion in Related Assets
Russia Expands Temporary Administration of JTI Assets in Second Round: From Four to All Seven Russian Entities, With Approximately $9.5 Billion in Related Assets
Japan Tobacco Inc. (JT) confirmed on November 9, 2026, that all seven of its Russian entities had been placed under temporary administration after a second presidential decree added three companies to the four designated a day earlier. The additional entities are associated with importing, management, holdings and the former supply of Ploom heated-tobacco devices. JT disclosed approximately ¥1.5 trillion in Russian business-related assets as of September 30, including ¥360 billion in cash and deposits, and approximately ¥200 billion in liabilities. Under its revised FY2026 forecast, Russia accounts for about 25% of adjusted operating profit. JT said operations in Russia were continuing, while the financial impact remained under assessment.
company
Nov.09
NAS 2026 | Cliff Douglas: Risk Continuum Should Play a Central Role in Tobacco Policy
NAS 2026 | Cliff Douglas: Risk Continuum Should Play a Central Role in Tobacco Policy
Cliff Douglas, a veteran U.S. tobacco-control and public health policy figure, told NAS 2026 that the “continuum of risk” should play a central role in tobacco policy. He called for clearer market pathways, stronger risk communication, differentiated regulation and enforcement, and said possible FDA reforms to PMTA reviews could be a “welcome correction” if they create a more efficient, predictable route for scientifically substantiated lower-risk products. Read 2Firsts’ on-site coverage.
Sep.26
Snowplus Enters Japan’s FamilyMart Network With Zero-Nicotine NEO Line and Kishidan Campaign
Snowplus Enters Japan’s FamilyMart Network With Zero-Nicotine NEO Line and Kishidan Campaign
Snowplus distributor H&S said the zero-nicotine, zero-tar NEO vaping line will begin rolling out across FamilyMart stores in Japan from September 14, 2026, excluding some locations. The DASH line will also be sold at selected FamilyMart stores in southern Kyushu and Okinawa. Snowplus simultaneously named Japanese rock band Kishidan as a brand ambassador, combining convenience-store distribution with a broader consumer marketing push in Japan.
Sep.15
How Investors Are Repricing the Global Tobacco Industry as Nicotine Markets Shift
How Investors Are Repricing the Global Tobacco Industry as Nicotine Markets Shift
How are investors reassessing the global tobacco industry as nicotine markets evolve? In an interview with 2Firsts, Charlie Chen, Head of Research at CCB International Securities, forecasts annual growth of 30–50% for nicotine pouches, outpacing vaping and heated tobacco. He examines how regulatory enforcement, shifting market shares and new business models are influencing company valuations. The report also explores differences between multinational tobacco groups and Chinese companies, drawing on insights from the New Approaches Summit on profitability, investment strategies and industry consolidation.
Nov.11
German Bundestag Passes Tobacco Tax Hikes: Vape Liquid Duty to Reach €0.44/ml, Heated Tobacco Taxes to Rise and Cigarettes Seen Near €12 a Pack
German Bundestag Passes Tobacco Tax Hikes: Vape Liquid Duty to Reach €0.44/ml, Heated Tobacco Taxes to Rise and Cigarettes Seen Near €12 a Pack
Germany's Bundestag passed amendments to the Tobacco Tax Act on October 15, 2026, setting out annual excise tax increases from 2027 through 2030 for e-cigarette liquids, heated tobacco, cigarettes and other tobacco products. Under the Finance Committee's amended bill, duty on qualifying e-liquids will rise from €0.32/ml in 2026 to €0.44/ml in 2030, an increase of 37.5%. Heated tobacco will retain its tax calculation based on 80% of the corresponding cigarette excise duty. The average price of a 20-cigarette pack is projected to approach €12 by 2030, with some brands potentially reaching €14. The legislation is projected to generate approximately €11.8 billion in additional tax revenue over four years and remains subject to further legislative procedures.
Regulations
Oct.19
China’s Vape-Related Exports Rose 4.5% in Q3 2026 as 21.6% Growth in Shipments to the UK Offset a Decline in Shipments to the US
China’s Vape-Related Exports Rose 4.5% in Q3 2026 as 21.6% Growth in Shipments to the UK Offset a Decline in Shipments to the US
China's vape-related exports rose 4.5% year over year to $2.86 billion in the third quarter of 2026, led by stronger shipments to the United Kingdom as exports to the United States declined. UK-bound shipments increased 21.6%, adding $81.9 million, while US exports fell 5.2%, or $53.6 million. Growth weakened through the quarter, with September exports down 6.3% globally and 37.8% to the US. Nicotine-containing vape products accounted for more than 82% of the quarterly net increase, while device exports were nearly flat. Nine-month exports totaled $7.82 billion, up 4.0%.
DATA
Oct.26