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

Canada Faces Growing Debate as Youth Nicotine Pouch Use Reaches 34.8%
Canada Faces Growing Debate as Youth Nicotine Pouch Use Reaches 34.8%
New Canadian research shows that 34.8% of people aged 17 to 27 have tried nicotine pouches, up more than fourfold from 7.6% in 2022. The findings come as Conservative politicians, Alberta’s government and the tobacco industry push Ottawa to relax current restrictions on pouch sales.
Jun.12
From Brands to Supply Chains: 2Firsts Builds a PMTA Compliance Service System for the U.S. Market
From Brands to Supply Chains: 2Firsts Builds a PMTA Compliance Service System for the U.S. Market
2Firsts supports new tobacco and nicotine companies entering the U.S. market with full-chain PMTA compliance services.
Jun.04
Changing Assumptions in U.S. Cigar Consumption: 2Firsts Interviews Cigar Educator Mechelle Merkerson
Changing Assumptions in U.S. Cigar Consumption: 2Firsts Interviews Cigar Educator Mechelle Merkerson
U.S. premium cigar culture is shifting toward education, broader choice and deeper links to craftsmanship and origin, cigar educator Mechelle Merkerson told 2Firsts. She sees boutique brands, women consumers and production-region experiences making knowledge central to cigar participation. For global brands, retailers and emerging markets such as China, education may help turn curiosity into sustained engagement.
Special Report
Jul.06
Product | IVG Pro 15K Enters European Retail Channels, Expanding High-Capacity Pod System Segment
Product | IVG Pro 15K Enters European Retail Channels, Expanding High-Capacity Pod System Segment
UK vape brand IVG has introduced the IVG Pro 15K, a high-capacity pod system combining a 2ml prefilled pod with a 10ml refill container to deliver up to 15,000 puffs. Unlike conventional high-puff disposable vapes, the IVG Pro 15K adopts a reusable device structure, reflecting a broader shift in the European vape market toward longer-use-cycle products and reusable hardware ecosystems.
Jul.14
Korean component maker ITM Semiconductor says Indonesia unit starts e-cigarette device output as related Q1 revenue rises 55.4%
Korean component maker ITM Semiconductor says Indonesia unit starts e-cigarette device output as related Q1 revenue rises 55.4%
South Korea’s KOSDAQ-listed electronics-component maker ITM Semiconductor said its Indonesia subsidiary has begun full-scale mass production of e-cigarette devices, with first-quarter revenue from the business rising 55.4% year on year to 42.1 billion won, Maeil Business Newspaper reported.
Jul.08
Indonesia’s BNN Pushes Total Vape Ban as Health Ministry Tightens Tobacco Packaging Rules, Putting $40 Billion Industry at Risk
Indonesia’s BNN Pushes Total Vape Ban as Health Ministry Tightens Tobacco Packaging Rules, Putting $40 Billion Industry at Risk
Indonesia is entering a new phase of debate over vape and tobacco regulation. The National Narcotics Agency (BNN) has proposed a total vape ban, with some lawmakers supporting stronger restrictions. At the same time, the Health Ministry is advancing tobacco and nicotine regulations under Government Regulation No. 28/2024, including measures such as plain packaging and product controls. Tobacco and vape industries have warned that tighter rules could affect a sector worth around $40 billion, supporting about 6 million jobs and contributing significant tax revenue.
Jul.27