SEOUL, Nov. 26 (Korea Bizwire) — South Korea’s food and drug watchdog said Monday it has filed a response to Philip Morris Korea Inc.’s lawsuit over the disclosure of information on its research on harmful substances found in alternative tobacco products. The Ministry of Food and Drug Safety said it has selected a local law [...]
CHEONGJU, Jan. 5 (Korea Bizwire) — What on the surface appears to be good news actually has municipal governments worried. Last year, tobacco consumption tax revenues declined considerably, which may be interpreted by some as a sign of a healthier public who, deterred by a government-ordered price hike of around 80 percent, are willing to [...]
SEOUL, Dec. 15 (Korea Bizwire) — The South Korean unit of Philip Morris International Inc. said Friday it will jack up the price of its heat-and-burn electronic cigarette by nearly 4.7 percent next week. The per-pack price of HEETS, the tobacco units used with its electronic tobacco heating device IQOS, will go up to 4,500 [...]
SEOUL, Nov. 15 (Korea Bizwire) – KT&G has exhausted its 10,000-unit supply of its HNB e-cigarette “Lil” within two days, according to the South Korean tobacco firm. Sold at GS25 convenience stores throughout the Seoul area, the pre-orders began on November 13 and ended around 5 p.m. the following day. Buyers can pick up their [...]
SEOUL, Nov. 14 (Korea Bizwire) – HNB (heat-not-burn) E-cigarette IQOS is much safer for smokers than a traditional cigarette, says Philip Morris International, and the company has the words of a medical expert to back up its assertion. On November 14 at the Four Seasons Hotel in Seoul, Philip Morris Korea hosted a round table [...]
SEOUL, Nov. 9 (Korea Bizwire) — South Korea’s parliament passed a bill Thursday to raise the tax on heat-not-burn (HNB) e-cigarette products amid a lingering dispute over whether they should be treated differently from conventional cigarettes. The revision bill calls for increasing the individual consumption tax rate for HNB tobacco products — such as Phillip [...]
SEOUL, Nov. 7 (Korea Bizwire) – South Korean tobacco firm KT&G has thrown its hat into the HNB (heat-not-burn) tobacco product market with the release of “Lil”, unsettling market incumbents Philip Morris Korea and BAT Korea. A HNB tobacco product consists of an electronic device that, as its name suggests, heats tobacco sticks instead of [...]
SEOUL, Aug. 29 (Korea Bizwire) – With the South Korean government likely to raise taxes on heat-not-burn (HNB) tobacco products, an increasing number of vapers are stocking up on HNB type e-cigarettes. According to sources from the convenience store industry on Tuesday, sales of the famous HNB e-cigarette IQOS have drastically increased since reports emerged earlier [...]
SEOUL, Jun. 9 (Korea Bizwire) — KT&G Corp. said Thursday it will soon release heat-not-burn (HNB) cigarettes amid the growing popularity of the smoke-free tobacco despite concerns of the emissions of toxic substances similar to those of conventional cigarettes. The largest tobacco manufacturer in South Korea will begin marketing the new product in September, a [...]
SEOUL, May 18 (Korea Bizwire) – On Wednesday, Philip Morris announced that it would begin selling its new e-cigarette iQOS in June, which is allegedly relatively harmless compared to typical cigarettes because it “heats” the tobacco leaves inserted into the device instead of “burning” them. The announcement immediately posed a new concern for South Korea’s [...]