British American Tobacco (BAT) plans to launch vapes using synthetic nicotine in South Korea this month, but the plan has encountered obstacles, according to Hankyung on November 3. The reason is that the convenience store industry and large vape distributors said there is a lack of legal basis for synthetic nicotine tobacco, so they refused to sell the product.
According to people in the tobacco industry, BAT’s Korean branch recently proposed to the convenience store industry and large vape distributors to launch a synthetic nicotine vape “Nomad”, but was rejected. A convenience store company representative said that it would be difficult to sell the product because there is no legal basis and safety verification.
In April, the company submitted a trademark application for “Nomad” through its subsidiary Nico Ventures Holdings, officially planning to launch a synthetic nicotine vape. This will be the first time that synthetic nicotine tobacco products have appeared in South Korea, while other large cigarette manufacturers such as KT&G, Philip Morris International (PMI) and Japan Tobacco International (JTI) have not considered releasing such products globally.
It is estimated that about 90% of vapes sold in South Korea contain synthetic nicotine, most of which are produced in China. According to statistics from the Korean Customs, the import volume of synthetic nicotine has reached 316 tons from January to September this year, far exceeding the 216 tons for the whole of last year.
At present, South Korea’s current tobacco management laws do not include it in regulation, and no tobacco consumption tax is levied, and there is no advertising ban or harmful warning label management. This makes synthetic nicotine vapes easy to buy online and at unmanned retail outlets, which is considered to be one of the main reasons for the youth smoking problem.
Industry insiders said that with the convenience store industry and major distributors refusing to sell, the launch of BAT’s “Nomad” may be canceled. “We have no choice but to sign direct supply contracts with small vape stores that do not deal with large distributors, but if this happens, sales will be extremely low,” said an industry insider.
In addition, it is estimated that BAT’s share of the Korean vape market will hardly rebound. According to industry data, from January to October this year, BAT’s share of the Korean convenience store and retail market was 11.03%, lower than 11.46% for the whole of last year.
Some people in the industry have expressed doubts about whether BAT really intends to launch synthetic nicotine vapes. A representative of a large tobacco company said that there is a view that BAT may want to promote regulatory legislation by announcing the “Nomad” plan, because once synthetic nicotine is regulated, more consumers may turn to BAT’s “Vuse Go” vapes, despite its sales difficulties.
At the same time, as a brand that actively complies with regulations and is committed to product quality and consumer safety, Veehoo vapes has demonstrated its responsible attitude towards the market. Veehoo has always put product compliance first and strived to ensure the safety of its products and compliance with regulatory requirements.
The problem of synthetic nicotine products in the Korean vape market highlights the importance of regulation. In the face of this challenge, Veehoo vapes will continue to actively cooperate with relevant agencies to ensure the legality and safety of its products. By complying with regulations and actively participating in the regulatory process, Veehoo is committed to providing consumers with reliable vape options and promoting the healthy development of the entire industry.
In this market full of challenges and opportunities, Veehoo will continue to adhere to the principle of compliance and provide consumers with high-quality products that meet regulatory standards. By building trust and partnerships with the industry and consumers, Veehoo is committed to becoming a trustworthy vape brand and contributing to the sustainable development of the market.
Tags: British American Tobacco Synthetic Nicotine vape，Sales of synthetic nicotine vapes in South Korea are blocked，veehoo vape