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

From Product Innovation to Integrated Solutions: NEXTECH Expands Its Global Heated Tobacco Solutions
From Product Innovation to Integrated Solutions: NEXTECH Expands Its Global Heated Tobacco Solutions
NEXTECH launched its NEXE Pro circumferential-heating tobacco stick globally at InterTabac 2026, as the company expands from product innovation into broader heated tobacco solutions. Amid intensifying competition across global HTP markets, NEXTECH is strengthening its R&D, manufacturing and pre-launch support capabilities to serve different types of business customers.
Industry Insight
Sep.15
Reynolds Showcases Vuse Pro Flavors and VELO Nicotine Pouches at NACS Show 2026
Reynolds Showcases Vuse Pro Flavors and VELO Nicotine Pouches at NACS Show 2026
Reynolds American, a BAT subsidiary, showcased four Vuse Pro flavored e-cigarette pods and its VELO nicotine pouch portfolio at NACS Show 2026. Booth staff confirmed to 2Firsts that the Vuse Pro flavors are sold in the U.S., although they have not received FDA marketing authorization. BAT outlined plans to expand Vuse retail distribution and reported that VELO held a 30.5% year-to-date volume share of the U.S. modern oral nicotine category through August 2026. The booth also featured the newly launched VELO MAX range and merchandising displays combining cigarettes, vaping products and oral nicotine brands.
EXPO
Oct.09
Swedish-Founded Nicotine Pouch Retailer GotPouches Shifts to U.S.-Based Operations, Reaching Over 25 States
Swedish-Founded Nicotine Pouch Retailer GotPouches Shifts to U.S.-Based Operations, Reaching Over 25 States
Swedish-founded online nicotine pouch retailer GotPouches has completed the localization of its U.S. operations under UpNorth Retail LLC, with corporate operations in Franklin, Tennessee, domestic fulfillment from Nashville and U.S.-based customer support. The company says its catalog covers more than 20 nicotine pouch brands and it currently serves customers in more than 25 U.S. states.
Sep.18
2Firsts Hosts China Market Forum at InterTabac as Global Industry Attention to China’s Tobacco Sector Deepens
2Firsts Hosts China Market Forum at InterTabac as Global Industry Attention to China’s Tobacco Sector Deepens
On September 16, 2Firsts hosted a China-focused industry forum during InterTabac in Dortmund, bringing together more than 30 participants from North America, Europe, India, South Korea and other markets. The session covered traditional tobacco, next-generation products, exports, technology, regulation and supply chains, while examining how China’s tobacco sector operates, where its transformation may be heading, and why its growing role matters increasingly to companies across the global tobacco and nicotine industry.
Sep.21
PMI Pushes Smoke-Free Business in Latin America as Argentina Lifts Heated Tobacco Ban, Mexico City Share Tops 7%
PMI Pushes Smoke-Free Business in Latin America as Argentina Lifts Heated Tobacco Ban, Mexico City Share Tops 7%
Philip Morris International (PMI) showcased IQOS heated tobacco systems and nicotine pouch products at Technovation 2026 in Buenos Aires on October 7–8, presenting research on consumer attitudes, regulatory developments and illicit cigarette trade across Latin America. PMI Chief Global Growth Officer Stefano Volpetti said smoke-free products accounted for more than 7% of the Mexico City market. Argentina repealed its heated tobacco ban in May 2026 and introduced registration requirements for tobacco and nicotine products, while local media reported nicotine pouch sales in Mendoza. A PMI-commissioned survey found that only 8% of respondents across four Latin American countries were familiar with nicotine pouches. A separate KPMG study estimated illicit cigarette consumption at 77 billion sticks across 11 markets in Latin America and Canada in 2025.
PMI
Oct.13
IVG Parent Secures HMRC Excise Warehouse and Duty Stamp Approvals Ahead of UK Vape Tax
IVG Parent Secures HMRC Excise Warehouse and Duty Stamp Approvals Ahead of UK Vape Tax
Acme Vape Ltd, the company behind UK vaping brand IVG, has received HM Revenue & Customs approval to operate an excise warehouse for vaping products and participate in the Vaping Duty Stamps Scheme. The UK's Vaping Products Duty will take effect on October 1, 2026, at a flat rate of £2.20 per 10ml of vaping liquid. Acme Vape Ltd says its approved warehouse in Preston will become operational under the new regime on the same date.
Regulations
Sep.18 by 2Firsts Perspectives