According to a report by N. News on January 2nd, industry insiders revealed on the same day that the South Korean National Assembly is considering the possibility of amending the "Tobacco Business Act" in the first half of 2025, with the earliest potential dates for such amendments being in January or February.
Last year, British American Tobacco Rothmans entered the synthetic nicotine market, sparking discussions about amending the Tobacco Business Act. The bill is expected to be passed by 2025, although there is bipartisan agreement on the need for regulation, political instability remains a hindrance.
It is suggested that synthetic nicotine e-cigarettes are becoming a gateway tobacco product for teenagers. These products can be sold through multiple channels without requiring specific licensing, including online shops, vending machines, and internet cafes. There are even e-cigarette products designed to resemble cosmetics or watches that are being sold.
BAT is taking a positive attitude towards entering the market, stating that there is no reason not to launch products without regulation, but also supporting reasonable regulatory demands. However, the political situation remains a concern. Due to the "Tobacco Business Act" involving tax issues, it is mainly under the responsibility of the Ministry of Finance. However, with the impeachment of President Yoon Suk-yeol and Prime Minister Han Duck-soo, Deputy Prime Minister and Minister of Finance Choi Sang-mook is acting as president.
Many believe that there is little disagreement among the parties on the need for regulation, with the revised bill likely to be enacted in early 2025, possibly as early as September before the regular session of Congress. A source in the industry said that despite strong opposition from the e-cigarette liquid safety association, these views have not been widely accepted. It is said that the standing committees of the parties have reached a consensus and revisions are expected to be made in January, with introduction possible before February if the schedule of the acting president allows.
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