Recently, according to South Korean media reports, the price of cigarettes in the country has stagnated at 4,500 won (approximately 27 yuan) for nine consecutive years, triggering widespread discussions about increasing cigarette taxes.
Although Deputy Prime Minister and Minister of Economy and Finance Cho Sang-hoon recently stated at a personnel hearing that "there is no plan to increase", considering that the current cigarette prices are actually on a downward trend compared with the soaring prices, it seems that it is only a matter of time before the cigarette tax is increased.
In addition, due to rising costs, the profits of the cigarette industry are also shrinking, so the possibility of increasing cigarette taxes is quite high. To this end, academic circles have proposed a plan to gradually increase cigarette taxes every year, raising the price of cigarettes in 2030 to levels such as 10,000 to 20,000 won per pack.
In the discussion on increasing cigarette taxes, some people believe that if the price of 10,000 won is too high, 8,000 won is an acceptable level, which is also in line with the average cigarette price in OECD countries.