Korea: Tobacco is highly marketized and KT&G aims to expand its global HNB business
From the perspective of regulation, South Korea actively implements tobacco control policies, such as standardizing the content and size of warning pictures on cigarette packages. Unlike Japan, South Korea allows the sale of electronic atomized cigarettes and guides the market direction through strict regulation.
On the tax side, South Korea has also taken a series of measures to impose higher tax on electronic atomized cigarettes, raising the tax rate of HNB to 90% of that of traditional cigarettes, hoping to achieve the goal of tobacco control.
From the perspective of enterprises, KT&G realizes product differentiation through continuous independent research and development, and actively seeks cooperation with PMI on this basis, so as to better meet consumer demand through product complementation, accelerate HNB overseas promotion speed and achieve better development hand in hand.
Regulation and taxation as the starting point of regulation, innovation and differentiation to promote the development of the industry
From the government's point of view, accelerating the improvement of e-cigarette regulation and tax system is an important task.By adjusting the regulatory policy, it can not only not attract young people, but also achieve the purpose of encouraging smoking substitution.
By setting reasonable tax rate, tobacco tax revenue can be stabilized while overall tobacco consumption can be reduced.
From the Angle of enterprises, independent research and development innovation to achieve product differentiation, meet the demand of different consumers, not only can help enterprises in the leading strength strong environment a breakthrough in the performance of the local market, also can increase the richness of their new tobacco products on the market and maturity, speed up the popularization and finally realize the global rapid development of the new-type tobacco market.