South Korea: E-liquid Prices May Surge 5-Fold Amid Synthetic Nicotine Regulation

Oct.14.2024
South Korea: E-liquid Prices May Surge 5-Fold Amid Synthetic Nicotine Regulation
South Korea's parliament is pushing for regulations on synthetic nicotine, sparking debate over e-cigarette tax rates.

According to AFP BB News on October 13th, the South Korean parliament is actively working towards regulating synthetic nicotine, with particular attention being paid to the setting of e-cigarette tax rates.


According to data from the South Korean National Assembly Legislative Information System, as of September 30, six proposals to amend the Tobacco Business Act have been submitted to the parliament. These proposals aim to regulate synthetic nicotine.


The South Korean Ministry of Health and Welfare and the Ministry of Economy and Finance are currently studying the possibility of defining synthetic nicotine as tobacco. Once these amendments are passed, all products containing synthetic nicotine will be considered tobacco and subject to both pricing and non-pricing regulations.


However, the e-cigarette industry strongly opposes this. Under the current tax system based on weight, the price of a 30ml e-liquid nicotine product could soar from 20,000 Korean Won (15 USD) to 70,000 Korean Won (52 USD) to 100,000 Korean Won (74 USD). As a result, the industry advocates for the tax system to shift from being based on e-liquid capacity to being based on price.


Experts say that if a uniform tax system is implemented for products with different nicotine levels, the open system market will face a significant impact. At the same time, British American Tobacco, planning to launch synthetic nicotine product "Nomad" in November, is closely monitoring regulatory trends. In response to criticism over using regulatory loopholes to sell products, the company stated it supports appropriate regulation of synthetic nicotine products.


The Korea Health Promotion Development Institute emphasized that current laws do not provide a legal basis for regulating synthetic nicotine. From a perspective of safeguarding public health, all tobacco products require similar regulatory measures.


We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn


Notice

1.  This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2.  The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3.  This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4.  Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

 

Copyright

 

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

 

AI Assistance Disclaimer

 

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

Malaysia’s Negeri Sembilan May Ban E-Cigarettes Pending State Council Review
Malaysia’s Negeri Sembilan May Ban E-Cigarettes Pending State Council Review
Negeri Sembilan may impose a state-wide e-cigarette ban, with Chief Minister Aminuddin backing the Malaysian Medical Association’s call and referring the proposal to the state executive council.
May.22 by 2FIRSTS.ai
Philippines Considers Higher Taxes on E-Cigarettes to Curb Youth Usage
Philippines Considers Higher Taxes on E-Cigarettes to Curb Youth Usage
The Philippines may raise e-cigarette taxes to curb teenage use, which has hit 40%. The Senate is debating a tax reform, stressing the need for strict enforcement against illegal trade. A biennial tax adjustment plan is proposed to boost government revenue.
May.22 by 2FIRSTS.ai
Mass Vape Checks at Chicago Port: Sources Say Hundreds of Tons Under Scrutiny as Logistics Firms Halt Shipments
Mass Vape Checks at Chicago Port: Sources Say Hundreds of Tons Under Scrutiny as Logistics Firms Halt Shipments
According to reports, since April 28, U.S. Customs has been conducting large-scale inspections of e-cigarette-related products at the Port of Chicago, with hundreds of tons of goods already seized.
May.09 by 2FIRSTS.ai
U.S. Customs in Southern California Seize 150,000 Illegal Cigarettes Worth Nearly $60,000
U.S. Customs in Southern California Seize 150,000 Illegal Cigarettes Worth Nearly $60,000
U.S. Customs in Southern California seized approximately 150,000 illegal cigarettes at the Los Angeles/Long Beach seaport, with an estimated market value of \$59,900. The cigarettes were hidden in a pair of travelers' luggage and were accompanied by receipts but lacked the required transport permits. This marks the largest seizure of illegal cigarettes at the port to date.
May.15 by 2FIRSTS.ai
Baltimore, U.S., Targets Philip Morris Over ZYN Marketing to Youth
Baltimore, U.S., Targets Philip Morris Over ZYN Marketing to Youth
Baltimore city officials have filed a lawsuit against Philip Morris International, Swedish Match North America, and Swedish Match USA, accusing the companies of targeting minors in marketing their ZYN nicotine pouches. PMI said it had not yet received the complaint and stressed that its products are marketed exclusively to adults aged 21 and over.
May.12 by 2FIRSTS.ai
Belgium’s Health Minister Proposes EU-Wide Ban on E-Cigarette Sales
Belgium’s Health Minister Proposes EU-Wide Ban on E-Cigarette Sales
Belgian Health Minister Frank Vandenbroucke has proposed an EU-wide ban on the sale of e-cigarettes, arguing that their variety of flavors attracts young people and leads to nicotine addiction, which goes against the EU's cancer prevention agenda.
Jun.25 by 2FIRSTS.ai