HNB demand boosts imports

South Korea’s imports of tobacco and vaping products rose to their highest level in 15 years last year, according to a Yonhap News Agency report quoting government figures.

The rise in imports was driven largely by the popularity of heat-not-burn (HNB) cigarettes.

South Korea imported combustible cigarettes and electronic-vaping products worth US$199.96 million during the first 11 months of last year, up 61 percent on the value of such imports during the whole of 2016, according to data from the Korea Customs Service (KCS).

The value of imports for the 11-month period was higher than any annual total since 2002, the KCS said.

Imports for the whole of 2017 are expected to surpass $200 million.

Indonesia accounted for the largest share of the value of South Korea’s 11-month 2017 imports, $45.9 million, and the Philippines was second, accounting for $36.06 million of those imports.

Italy took third place after HEETS, the consumable item of Philip Morris’ iQOS HNB device, was launched on to the domestic market in June. Imports of HEETS were valued at $30.62 million.

Philip Morris was said to have accounted for 80 percent of the nation’s HNB market.