At a corporate briefing attended by KT&G CEO Bang Kyung-man and Altria CEO Billy Gifford, the two companies announced plans to jointly acquire Another Snus Factory, a Scandinavian nicotine pouch maker, to tap into the fast-growing global market for smoke-free nicotine alternatives. KT&G said the partnership will leverage its global distribution network to support the rollout of both ASF and Altria products in international markets. “Through the MOU with the top-tier American tobacco manufacturer Altria, KT&G will secure future growth momentum by expanding its core business portfolio and reinforcing its competitiveness,” said an official from KT&G. Sales for the April-June period rose 8.7 percent on-year to 1.55 trillion won ($1.11 billion), while operating profit climbed 8.6 percent to 350 billion won. KT&G plans additional share repurchases and cancellations worth 260 billion won — up 100 billion won from last year.