Seoul, July 16 (Korea Bizwire) – Following a price hike and the expansion of non-smoking areas early this year, the smoking rate among adult males has dropped by six percent. As the smoking rate decreased, the consumption of tobacco showed a drastic decline, but because of the higher prices, income from cigarettes increased. The Ministry of [...]
SEOUL, Feb. 1 (Korea Bizwire) – Foreign cigarettes outsold South Korean brands for the first time in 29 years last month, as a spike in prices affected local market demands, data showed Sunday. Market data collected from the country’s two main convenience store chains for January showed foreign cigarettes, which did better at lowering prices [...]
SEOUL, Jan. 3 (Korea Bizwire) – On the first day of 2015, when the tobacco price hike was implemented across the nation, overall sales for domestic brand cigarettes were remarkably slow, while tobacco from major international brands such as Dunhill or Camel proved very popular, as some foreign tobacco brands are not yet subject to [...]
SEOUL, Sep. 8 (Korea Bizwire) – As the government is preparing to raise the cigarette price by 80 percent to 4,500 won (US$4.39), a survey said one out of three smokers said they are willing to quit if the cigarette price indeed rises this time. According to the Ministry of Health & Welfare and the [...]
SEOUL, May 21 (Korea Bizwire) – Non-conventional cigarettes, such as snus (snuff) and waterpipe, will be subject to taxation from July in Korean market. The government set to extend the range of taxation subjects from July 21, according to the local authorities. To this end, the Ministry of Security and Public Administration has made a [...]