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, 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, May 17 (Korea Bizwire) – Philip Morris International Inc. said Wednesday its new e-cigarette device that contains tobacco leaves will go on sale in South Korea starting early next month. The local unit of the global tobacco company, Philip Morris Korea, said IQOS, the brand of its new tobacco product, will be available in Seoul [...]
SEOUL, Jan. 20 (Korea Bizwire) – Philip Morris Korea discounted the price of Marlboro and Parliament cigarettes by 200 won to 4,500 won from January 19. With the price decrease, the price gap between domestic and foreign cigarette products was erased in three years. The industry expects fierce competition for market share among tobacco brands in and [...]
SEOUL, Sep. 15 (Korea Bizwire) – The first trial in a 53.7-billion-won lawsuit raised by the National Health Insurance Corporation against major tobacco companies was held in the afternoon of September 12 at the Seoul Central District Court. The defendants in the court were KT&G, Philip Morris Korea and BAT Korea. Chung Mi-hwa, the lead attorney [...]
SEOUL, May 13 (Korea Bizwire) – Imported cigarette brands have been doing badly for the past few years. That’s largely because of higher prices set above those of home-made brands, combined with the widespread no-smoking trend. According to the Korea Smokers Association and convenience store industry sources, the total number of cigarettes sold last year was [...]