South Korea, the booming e-cigarette market, is going to be even more lively!
In March 2019, a representative of UWOO said: “Our goal is to launch UWOO in the Korean market in the first half of this year or at the latest in the second half.” According to reports, UWOO e-cigarette products have been launched in South Korea!
On May 24, UWOO Labs sold its products to stores across South Korea. It means UWOO will compete with IQOS in the Korean market!
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Philip Morris International launched its heat-not-burn product iQOS in South Korea in June 2017, and it was quickly welcomed by smokers, prompting Korean local tobacco manufacturer KT&G (Korea Tobacco) and other foreign companies to successively launch differentiated products. Such as the American e-cigarette Phix and the Japanese brand Jouz.
Market observers predict that UWOO will lead the growth of the Korean e-cigarette market in the same way that Philip Morris International iQOS leads the heat-not-burn market.
However, whether UWOO can gain a foothold in South Korea still needs to pass the government.
In order to understand the potential health risks of e-cigarettes, the Korean Ministry of Health plans to work with consumer safety supervision agencies to conduct an independent assessment of the chemical components in UWOO products.
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Jung Young-gi, an official from the Ministry of Health of South Korea, said: “Just as we did when we first launched the heat-not-burn product iQOS, we will soon ask the food and drug safety department to conduct research on UWOO e-cigarettes to check the presence of the product. Different types and levels of toxic substances. Then, we will announce to the public, UWOO’s substance components and the assessment results of product toxicity and dependence to raise public awareness of possible risks.”
Regarding the controversy that UWOO uses social media to lure teenagers to smoke, Lee Seung-jae, CEO of UWOO Labs Korea Branch told reporters in Seoul: “We will not conduct any form of social media marketing.”
Next, UWOO is considering expanding to the Middle East. The UAE government stated in February 2019 that it was considering legalizing e-cigarettes. UWOO said: “We are evaluating the entire Middle East market.” But it is not yet ready to share a clear expansion plan.
