South Korea to Double Taxes on Vaping Products
Last week, South Korea’s Ministry of Health and Welfare said the cabinet had approved a plan to amend the National Health Promotion Act. The revised version would allow the government to impose a special health tax of 1,050 won (US$0.90) per 1 ml of liqui
Last week, the South Korean Ministry of Health and Welfare announced that the cabinet has approved a plan to amend the National Health Promotion Act. The revised version will allow the government to impose a special health tax of 1,050 won (0.90 USD) per milliliter of liquid e-cigarettes, which is double the previous rate of 525 won per milliliter.<\/span><\/div>
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The collapse of a once rapidly growing market.<\/span><\/div>
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South Korea was once one of the fastest-growing e-cigarette markets in the world, attracting the attention of major international manufacturers like Juul Labs. However, after the government warned the public against using e-cigarettes last May, major convenience store chain GS25 stopped selling flavored e-cigarette products from Juul Labs and South Korean company KT&G.<\/span><\/div>
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Subsequently, the South Korean Army announced a ban on the use and possession of e-liquids on its bases. An article on CNBC stated that this move is significant because South Korea has a large military force of about 600,000 soldiers, mostly men. Unfortunately, despite a global decline in smoking rates, South Korean men remain the highest smoking population in the world.<\/span><\/div>
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