SEOUL, April 14 (Korea Bizwire) – After a rule change from the Korean army that opened cigarette sales on military bases to foreign companies, both the domestic tobacco industry and tobacco farms are up in arms. A total of 20 different types of cigarettes are supplied to the army PX. The armed forces welfare group evaluates the [...]
SEOUL, March 31 (Korea Bizwire) – The government on Thursday revealed 10 graphic images showing the harmful effects of smoking that must be on cigarette packages for the first time starting at the end of this year. A diseased lung, a hole in a throat, and rotten teeth were among the 10 pictorial warnings unveiled by the [...]
SEOUL, March 23 (Korea Bizwire) – After cigarette prices were raised in 2015, consumers are now purchasing tobacco products directly from foreign countries. According to data from the Ministry of Government Administration and Home Affairs, 21,869 parcels containing cigarettes were imposed duties from January to July 2015, which translates to approximately 3,124 parcels per month. The [...]
SEOUL, Jan.29 (Korea Bizwire) – According to a report from the Joongang Ilbo, a Korean daily journal, the main beneficiaries of higher cigarette prices have turned out to be foreign tobacco companies. Despite a rise in prices at the beginning of 2015, cigarette imports have actually increased. Smokers returned to their addiction soon after the [...]
SEJONG, Jan. 12 (Korea Bizwire) – South Korea’s tax revenue rose sharply on-year in the first 11 months of 2015 thanks to higher cigarette prices and increased real estate transactions, the finance ministry said Tuesday. In the January-November period, the government collected some 206.2 trillion won (US$171 billion) in taxes, up 16.8 trillion won from [...]
SEJONG, Jan. 7 (Korea Bizwire) – South Korea’s tobacco tax revenue shot up more than 50 percent in 2015 from a year earlier on a spike in cigarette prices, despite weaker sales, the finance ministry said Thursday. The cigarette tax revenue reached 10.5 trillion won (US$8.7 billion) last year, up 51.4 percent from 7 trillion [...]
SEOUL, Nov.27 (Korea Bizwire) – The Korea Center for Disease Control and Prevention (KCDC) has opened a research center to study the ingredients in cigarettes, their addictiveness and their risk on health. Located at the KCDC complex in Osong, Chungbuk Province, the research center will analyze the components of cigarettes and their fumes, usage among [...]
DAEJEON, Oct. 12 (Korea Bizwire) – As the interest in vape pens is increasing, due to increases in the cigarette prices and the expansion of no-smoking areas, the number of patent applications related to vape pens is rising. According to the Korean Intellectual Property Office, there were 381 patents related to vape pens issued over [...]
SEOUL, Oct. 5 (Korea Bizwire) – A spike in local cigarette taxes is expected to push up the amount of next year’s tobacco tax revenue on par with what the government receives from salaried workers, a local civic group claimed Monday. According to the Korea Taxpayers Association, cigarette tax revenue is estimated to top 12.6 [...]
SEJONG, June 17 (Korea Bizwire) — South Korea’s cigarette tax revenue jumped in the first five months of 2015 from a year earlier due mainly to a tax hike, government data showed Wednesday. Starting this year, the tax levied on a pack of cigarettes rose by 2,000 won (US$1.79), raising the average price per pack [...]