The government threatened retailers with harsh penalties for those caught selling cigarettes in bulk to hoarders before a substantial price takes effect on 1 Jan, the Korea Herald reported.

Ruling and opposition parties last week agreed to a KRW 2,000 (EUR 1,44) hike in cigarette prices, a large one for a country where the cost of cigarettes are comparatively low. The current average price is KRW 2,500. The last time the government decreed an increase was in 2004, when the price of cigarettes rose KRW 500, the newspaper said on its website. Retailers could face up to two years in prison and a KRW 50 million fine for selling in quantity. The Herald did not specify which quantity.
Cigarette sales have increased since September, when the Health Ministry first proposed the increase to take effect in 2015.