The report titled "Market Report: South Korea - Traditional cigarette market shares continue to decline, while e-cigarettes witness slight growth" has been added to the archives of ResearchAndMarkets.com. While the report notes a decrease in smoking rates and an increase in the use of safer alternatives to tobacco, it highlights that pending legislation could have negative implications for the market.
A report indicates that South Korea's electronic cigarette imports and exports are expected to decline in 2021. It also notes that China is the most important import market and Russia is the main export destination. As online sales of e-liquids are banned in South Korea, physical electronic cigarette stores remain the primary sales point for these products.
A few years ago, South Korea was among the world's fastest-growing markets for e-cigarettes, attracting the attention of major international manufacturers such as Juul Labs. However, in 2020, the government urged the public not to use e-cigarettes, and the industry took a hit when the major convenience store chain GS25 stopped selling flavored e-cigarette products from Juul Labs and local company KT&G.
Following this, the South Korean army announced a ban on the use and possession of electronic devices in its bases, sending a clear message to the public about strict regulation of electronic cigarettes. Additionally, a CNBC article at the time explained that this move was significant as South Korea has a large military of approximately 600,000 soldiers, primarily consisting of men, and Korean men still rank among the highest smokers in the world. Click to see the original report link.
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