“While South Korea’s tobacco market is expected to decline overall, the sales of heated tobacco products will edge up this year, a market research firm said Thursday. According to Euromonitor International, the Korean tobacco market reached 17.19 trillion won ($16 billion) in 2019. Of the total, 1.89 trillion won was spent on heat-not-burn cigarettes, which put the country as the second-largest market in the world after Japan. The industry tracker forecast Korea’s heating tobacco product market will edge up to reach 2 trillion won in 2020. As for the liquid e-cigarettes, which marked 87.5 billion won in 2019, Euromonitor anticipated the sales to drop by 80 percent to 16.8 billion won this year, after it was hit by government regulations in the second half of the year.”
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South Korea’s heating tobacco product market to grow in 2020
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