Korea’s cigarette prices among the world’s lowest

Korea’s cigarette prices among the world’s lowest

Cigarette prices in Korea remain some of the lowest among 41 major economies around the world, recent data revealed on Monday.

According to Korea Institute of Public Finance, the average price of best-selling Korean cigarettes between 2012 and 2013 was 2,500 won (US$2.20) a pack, one sixth of the price set in Norway at $14.50 per pack.

The state-run institute added that the proportion of tax levied on tobacco products in Korea was also relatively low. About 1,550 won, or 62 per cent of cigarette prices, were for taxes, it said.

The study utilised a recent report released by the World Health Organisation, it added.

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