According to a report from Newsis in Seoul on October 23, Philip Morris Products S.A., the Swiss headquarters of PMI, has applied to register the trademarks "VEEV One Ultra" and "VEEV Now Ultra" at the Korean Patent Office. However, there has not been any confirmed information about the product's launch in the South Korean market. There is considerable interest from various sectors about whether PMI's e-cigarette, the "IQOS VEEV," will make an impact in the Korean tobacco market.
The IQOS VEEV has gained a wide consumer base worldwide and is currently being sold in over ten countries including Canada, Croatia, Czech Republic, Finland, France, Greece, Italy, Ukraine, and New Zealand. However, it remains uncertain whether this product will be introduced in the South Korean market.
South Korean company KT&G previously launched a similar e-cigarette product called Real Viper in 2019 but ceased its sales the following year. Tobacco company JUUL, which holds a 70% share of the e-cigarette market in the United States, made an unsuccessful attempt in the Korean market for a year before ultimately withdrawing in 2020.
Previously, British American Tobacco launched the vape brand "Vuse Go 800" but it was only available in the Seoul metropolitan area. As it is customary to apply for trademark registration with the Korean Intellectual Property Office before launching a new product, some speculate that "IQOS VEEV" is about to be introduced. PMI has already introduced products in the vape market, which is mature in the United States and Europe. If PMI enters the vape market, it is expected that the e-cigarette market centered around cigarette-shaped e-cigarettes in the country will undergo changes. However, a representative from PMI Korea stated, "It has not yet been confirmed whether we will launch 'IQOS VEEV' in the Korean market.
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