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KOREA

KT&G launches heat-not-burn product

09 Nov 2017. KT&G launched its heated Tobacco product, lil, at a press conference in Seoul on Tuesday and will be taking pre-orders of the product between 13-16 Nov, the Korean Herald reported.

Lil joins the IQOS device made by Philip Morris International (PMI) and the glo device made by British American Tobacco (BAT) to become the third heated tobacco product on sale in the country.

The entry of KT&G, Korea’s largest cigarette maker, into the category is expected to result in pricing competition, the Herald reported.

The cigarette manufacturer will sell its device at a retail price of KRW 95,000 (EUR 73.50), with a discounted price of KRW 68,000 reportedly available. Lil will be cheaper than the two heat-not-burn tobacco products currently on the market. The IQOS heated tobacco device from PMI can be bought at a discounted price of KRW 97,000 and the glo device from BAT is on sale at a discounted price of KRW 70,000.

KT&G said it plans to first focus on the domestic market before developing plans for overseas markets, the Herald reported.