Booming Consulting Industry for Synthetic Nicotine E-cigarettes in Korea

Market by 2FIRSTS.ai

May.09.2024

Booming Consulting Industry for Synthetic Nicotine E-cigarettes in Korea

With the increasing importers of synthetic nicotine e-liquids in South Korea, the consulting industry is booming, according to reports.

According to a report from the South Korean media "Daily Culture" on May 9th, with the rapid increase in imports of synthetic nicotine e-liquids for e-cigarettes, related consulting businesses are also thriving due to the use of tax-free and tobacco regulation avoidance strategies.

During a media interview, personnel from a customs company named A in Jiangnan District revealed that every time synthetic nicotine products are imported, a consultation fee of 50,000 Korean won is required, in addition to the basic customs clearance and inspection fees.

He further explained, "Many companies conducting import business for the first time often lack trust in Chinese manufacturing factories, so they are willing to pay optional consultation fees of up to 2 million Korean won to avoid risks.

Some consulting companies claim in online advertisements that they provide all services that are beneficial for clients to smoothly clear customs, including helping clients prepare necessary documents required by customs, making decisions on synthetic nicotine, and facilitating quick clearance. Another customs company, named B, emphasizes the expanding e-cigarette market and the importance of ensuring timely clearance in advance.

According to analysts, the revision of the individual income tax law and local consumption tax law in 2021 has led to a sharp increase in the import volume of synthetic nicotine e-liquid and the number of related companies, resulting in the active and prosperous industry of consulting.

References:

[1] '반송·폐기 위험 줄여드려요'…합성니코틴 ‘통관 컨설팅'도 호황

Also Read:

[1] South Korean Supreme Court Upholds Public Smoking Ban Ruling

[2] South Korea PMI Announces Promotional Offer: IQOS Users Get ₩50,000 Discount on New Purchases

[3] Controversy Surrounding E-Cigarettes in New South Wales Schools

[4] South Korean Brand Mons to Introduce New Bubblemon 2ml Model with RELX Symbol

[5] South Carolina Senators Pass Bill to Restrict E-cigarette Sales

#E-liquids #Asia #Market #South Korea

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