KT&G (President Bang Kyung-man) announced on the 30th that it has signed a Memorandum of Understanding (MOU) with Philip Morris International (PMI), a leading global smoke-free tobacco company, to collaborate on the submission of the Pre-market Tobacco Product Application (PMTA) for KT&G's newly selected HNB products (hereafter referred to as NGP) in the United States.

KT&G and PMI mutually recognize the significance of the U.S. market in advancing their strategic vision of providing better choices to adult smokers worldwide through scientifically proven, differentiated NGP products.

Following the partnership formed in January last year, where PMI agreed to commercialize KT&G's NGP products in international markets, this non-binding MOU confirms the intent to collaborate on regulatory review submissions for the new NGP products that PMI will decide to launch in the United States in the future.

Meanwhile, KT&G's new NGP products are slated to launch in markets outside the U.S. first, with plans to subsequently submit a PMTA to the U.S. FDA as per this MOU.

President Bang Kyung-man of KT&G stated, "The company is currently pursuing global expansion and structural transformation centered on its three core businesses (NGP, overseas cigarettes, and health supplements)." He added, "We will do our utmost to achieve our future vision of becoming global top-tier by leveraging innovative NGP products and scientific R&D capabilities that will be introduced to overseas markets."

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