Industry believes Korean officials may raise vaping taxes

Today, on April 22, news reports indicate that the South Korean e-cigarette and tobacco industry speculates that the government may raise taxes on e-cigarettes to increase revenue.

Even after officials faced strong opposition from the industry and smokers, the country's finance minister commented on this possibility.

According to Pulse News, this statement was made by the country's Economic and Finance Minister Choo Kyung-ho during a plenary session of the National Assembly on April 17.

During the meeting, Representative Bae Jun-young questioned Choo about the government's stance on taxing e-cigarettes, stating that e-cigarettes, similar to traditional cigarettes, contain harmful toxins.

"I know that some officials from the Ministry of Health and Welfare have suggested classifying e-cigarettes as tobacco products, just like other regular cigarettes," Choo said, noting that e-cigarettes should be taxed at a rate equivalent to that of regular tobacco products if both have the same level of harmful effects on the human body.

The Ministry of Economic and Finance stated that there are no plans to impose taxes on e-cigarettes.

The current taxation on e-cigarette products is lower than that of conventional nicotine delivery systems. For a pack of regular cigarettes priced at 4,500 won ($3.39), the government collects 3,323 won in taxes, including 594 won in special consumption tax and value-added tax.

However, for e-cigarettes, the tax amount is only 90% of the regular tax amount of 3,004 won.