Korea's Philip Morris Enters Liquid E-Cigarette Market, Expanding Non-Combustible Tobacco Sector

Korea's Philip Morris is entering the liquid e-cigarette market, intensifying competition in the domestic non-combustible tobacco sector. Following BAT's launch of the liquid e-cigarette 'Vuse' in Korea, Philip Morris is now joining the fray, expanding competition beyond traditional heated tobacco products.
 
According to industry sources, starting June 22, Philip Morris will sell its liquid e-cigarette device 'VEEV inPRIME' and dedicated liquid pods 'VEEBI inPRIME' at its nationwide IQOS stores. The VEEV is a rechargeable device that uses replaceable pods rather than being disposable. Philip Morris stated that it has applied its own technology to evenly distribute heat within the device and has added features to detect low liquid levels and provide vibration alerts for enhanced user convenience.
 
A representative from Philip Morris remarked, "The VEEV is not just a product launch; it is part of our effort to redefine the standards for liquid e-cigarette devices in Korea. We aim to expand responsible choices for adult smokers and elevate the overall standards of the category." Last month, Philip Morris appointed Lee Hong-seok as the new CEO, focusing on strengthening its portfolio of electronic and non-combustible products.
 
BAT has already established a presence in the domestic liquid e-cigarette market with the launch of its 'Vuse' brand in 2023, gradually expanding its sales regions and product lines to solidify its position.
 
The tobacco industry is focusing on liquid e-cigarettes due to the slowing growth of the traditional cigarette market and intensified competition in the heated tobacco segment. While demand for traditional cigarettes is declining, the use of e-cigarettes continues to rise, positioning liquid products as a new growth driver.
 
According to the recent '2025 Community Health Survey' released by the Korea Disease Control and Prevention Agency, the usage rate of heated tobacco products has increased by 90.9%, while the usage rate of liquid e-cigarettes has risen by 73.1% over the past seven years. Last year, the smoking rate for traditional cigarettes was 17.9%, a decrease of 1.0 percentage points from the previous year. In contrast, the current usage rates for heated and liquid e-cigarettes rose by 0.3 and 0.5 percentage points, respectively, to 6.3% and 4.5%. E-cigarettes are categorized by usage rates rather than smoking rates, as they are not classified as smoking.
 
An industry insider noted, "The traditional cigarette market is clearly on a long-term decline, and competition in the heated tobacco market has intensified. For global tobacco companies, liquid e-cigarettes are emerging as a new growth avenue to expand their non-combustible product portfolios."