South Korea Vape Strategies Diverge as BAT Reconsiders Exit and PMI Takes VEEV to About 14,000 Stores
BAT reassesses its vaping exit in South Korea after regulatory changes, while PMI expands VEEV distribution to 14,000 stores.Summary
British American Tobacco (BAT) previously considered exiting South Korea's vaping market due to competition from unregulated products but is now reassessing its strategy following new nicotine regulations. BAT's Vapour products remain available through existing channels, though its APMEA Vapour revenue fell 28.2% year-on-year. Meanwhile, Philip Morris International (PMI) launched VEEV inPRIME in June 2026, expanding distribution to 14,000 convenience stores and other retail channels by July. The contrasting approaches highlight differing investment strategies as South Korea's regulated vaping market evolves. BAT's CEO cited challenges from illegal products and weak enforcement, while PMI's entry with VEEV reflects a proactive investment in the growing market. The article emphasizes how regulatory formalization influences multinational tobacco companies' decisions in South Korea.
(Source：2Firsts)
