KT&G’s Director Candidate Recommendation Committee (hereinafter called DCRC) has recommended Bok–in Baek, the current president of KT&G, as a candidate for the next president of KT&G.

Today DCRC announced that it had recommended Bok–in Baek, the current president of KT&G, as a candidate for the next president of KT&G to the board of directors. Bok-in Baek, if appointed as the next president in the general meeting of shareholders scheduled to be held this coming March, would be expected to manage KT&G for the next 3 years.

DCRC said that it had selected Mr. Baek as a candidate for the next president of KT&G on the basis of the rigorous examination of management achievements, vision and strategy for the future, will for innovation, and global perspective of the candidate by way of document screening and in-depth interview, after listening to the opinions of interested parties, including institutional investors, over the course of the selection.

It added that Mr. Baek has been highly regarded in terms of his leadership demonstrated over the course of his successful management of KT&G, such as overseas expansion to more than 100 foreign countries during his tenure and the conclusion of the export contract for tobacco-type electronic cigarettes with Philip Morris International, a global tobacco company.