Fuente: Tobacco Reporter Lugar: Business & Finance Philip Morris Korea announced that it will launch its VEEV e-vapor product in South Korea on Aug. 26 as the company expands its smoke-free portfolio in the country. KT&G currently leads South Korea’s non-combustible tobacco segment with a 48% market share, followed by Philip Morris and British American Tobacco.



Philip Morris International said 42% of its $11 billion in second-quarter revenue came from smoke-free products. The company has invested 22.5 trillion won ($16 billion) in research and development for smoke-free products since 2008 and is targeting a two-thirds share of sales from smoke-free products by 2030.



PMI Korea consumer experience director Kim Tae-hyung said the company ultimately aims to replace combustible cigarettes with smoke-free products.The post PMI to Launch VEEV E-Vapor Product in South Korea first appeared on Tobacco Reporter.