Operator

Ladies and gentlemen, thank you for attending today. We will now begin the conference call for KT&G's 2026 First Quarter Earnings Report .[Operator Instructions]. And we will now begin with KT&G's presentation.

Unknown Executive

Ladies and gentlemen, I'm Erin Lee, Head of Investor Relations at KT&G. Thank you for attending KT&G's 2026 First Quarter Results. Today's presentation will be provided in English in simultaneous interpretation and the Q&A session in consecutive interpretation. The materials can be found via the live webcast screen or downloaded from the company website. Please allow me to introduce the management team in attendance today. With us, we have Mr. Sang-Hak Lee, Chief Finance and Operating Officer; Mr. Young-Chan Yoon, Chief Strategy Officer (sic) [ Head of Marketing ]; Chang Gu Huh, Chief Marketing Officer (sic) [ Chief of Strategy and Planning ]; Mr. Min Seok Gwon, Chief of Global Business; Mr. Donghyun Kim, Chief of NGP; Mr. Sung Jung Hoon Chief of Real Estate Business ;Mr. Yong Beom Kim, Head of Finance Office; and Mr. Tae Won Kim, Chief of Future Strategy at KGC.

Please be advised that the earnings we are about to present today have yet to be audited by the outside auditor, therefore, are subject to change in the audit process. And any forward-looking