Date Added: Feb 2010
KT&G is a leading tobacco company in South Korea with annual revenue of US$2.2 billion. As a business with worldwide operations, KT&G must comply with global reporting and disclosure requirements. The Korean government has also mandated that all Korean companies must comply with International Financial Reporting Standards (IFRS) by 2011. To ensure it could fulfill these requirements, KT&G replaced a range of disparate systems with a packaged IFRS solution, which consisted of Oracle E-Business Suite R12 and Hyperion modules. The system enabled KT&G to standardize financial processes across its businesses to improve the accuracy and reliability of data collection.