Asian Currencies Steady as U.S.-Iran Ceasefire Extension Hopes Weigh on Dollar 
JPMorgan Sees Biotech Sector at Turning Point, Upgrades Top Pharma Stocks 
S&P 500, Nasdaq Hit Record Highs as Iran Ceasefire Talks and AI Rally Boost Markets 
Canada and Germany Advance Major LNG Supply Partnership 
Asian Markets Slide as New U.S. Strikes on Iran Spark Investor Caution 
SpaceX IPO Could Become Largest in History with $1.8 Trillion Valuation Target 
Oil Prices Set for Sharp Weekly Losses as U.S.-Iran Ceasefire Hopes Ease Supply Concerns 
New World Screwworm Found Near U.S. Border Raises Threat to Cattle Industry and Beef Prices 
Wall Street Reaches New Record Highs as AI Boom and Iran Ceasefire Hopes Boost Markets 
Tokyo Inflation Cools in May, Supporting BOJ’s Cautious Rate Hike Path 
Synopsys Q2 FY2026 Earnings Beat Driven by AI and Semiconductor Demand 
Oil Prices Fall as Markets Await U.S.-Iran Peace Deal Decision 
MongoDB Q1 FY2027 Earnings Beat Expectations, Raises Full-Year Outlook 
Sable Offshore Wins Key Court Battle Over California Oil Pipeline 
US Launches New Trade Investigation Into Vietnam Over Intellectual Property Concerns 
Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions 
Costco Q3 Fiscal 2026 Earnings Beat Expectations as Sales and E-Commerce Surge 
South Korean tobacco giant KT&G, also prominent in pharmaceutical tech, is constructing a new factory in East Java, Indonesia. Expected to finish by 2026, the company secured significant investment support from the Indonesian government, marking it a major hub for Southeast Asian exports.
According to The Korea Economic Daily, the South Korean tobacco firm that is also leading the pharmaceutical technology in the country has won investment support from the Indonesian government. The pledged funding will go to constructing the new factory in the region. KT&G plans to use the upcoming facility as its base for product exports to Southeast Asia.
A signing ceremony for the investment agreement between KT&G and the Indonesia Investment Coordinating Board (BKPM) was held last week, but this was only announced on Monday, Sept. 11. The event was held at the Indonesian Ministry of Investment office in Jakarta and was attended by the company's chief executive officer, Baek Bok In, and Indonesia's Minister of Investment, Bahlil Lahadalia.
During the ceremony, CEO Baek said, "Through the investment in the new Indonesian factory, we will accelerate our expansion into overseas markets, swiftly seize opportunities abroad and leap into a global top-tier company through aggressive investments and innovation."
Minister Lahadalia also stated, "On behalf of the Indonesian government, I welcome KT&G's continued investment and will do my best to ensure the smooth progress of the investment."
Meanwhile, Korea IT Times reported that under the deal, KT&G will polish its investment plan for constructing a new plant even more to clarify the agreed terms. As the agreement outlines, Indonesia's Ministry of Investment will extend various support and convenience in line with the local laws and regulations.
Once completed in 2026, KT&G will begin the full operation for the manufacturing and export of its tobacco products. Aside from Southeast Asia, the company also targets other nearby regions as the delivery destination.
Photo by: KT&G Newsroom
