According to South Korean media Newsis reported on July 3, Na Hyuk-Hwi, CEO of ITM, the foundry of South Korean company KT&G, said that ITM is expected to achieve good performance in the second half of the year as both the protection circuit and e-cigarette sectors show stable recovery and growth momentum.
ITM set up its e-cigarette business unit last year to produce two models of Lil Hybrid Easy and Liquid Cartridge for Hybrid for KT&G, and plans to expand its exports this year, according to the company. ITM officials said the company is ready to produce 300 million smoke bombs per year to ensure high production and a competitive cost structure.
As previously reported, ITM began mass production of the cartridges used in KT&G’s hybrid e-cigarette model in February last year, and then began supplying new e-cigarette products in April of the same year, with the division’s sales continuing to grow. In response to the continued growth of the global e-cigarette market, the company has completed equipment expansion at its domestic and Vietnam plants and plans to make additional equipment investments.