{
  "id": 2268571,
  "title": "(LEAD) Philip Morris to launch VEEV e-vapor product in S. Korea",
  "url": "https://urgent.news/2026/08/21/lead-philip-morris-to-launch-veev-e-vapor-product-in-s-korea",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-21T01:27:49.000Z",
  "source": {
    "name": "Yonhap News",
    "slug": "yonhap-news",
    "url": "https://en.yna.co.kr/view/AEN20260821002551320"
  },
  "original_language": "en",
  "account": "Philip Morris Korea Inc. announced plans to launch its VEEV e-vapor product in South Korea next week, as part of its strategy to diversify its smoke-free offerings in Asia's fourth-largest economy. The VEEV e-vapor product will be available to consumers on August 22, with KT&G Corp. currently holding the majority market share in South Korea's non-combustible tobacco segment. Philip Morris International Inc., the U.S. parent company of Philip Morris Korea, reported that 42% of its $11 billion in sales in the second quarter came from smoke-free products. The company has set a goal of achieving a two-thirds share of sales from smoke-free products by 2030, driven by investments totaling 22.5 trillion won ($16 billion) in research and development for scientifically proven smoke-free alternatives since 2008. These initiatives include IQOS heat-not-burn (HNB) products, ZYN nicotine pouches, and the new VEEV e-vapor product, which will join the latter's lineup in South Korea.",
  "summary": "SEOUL, Aug. 21 (Yonhap) -- Philip Morris Korea Inc. said Friday it will launch a...",
  "key_points": [
    "Philip Morris launches VEEV e-vapor product in South Korea on August 22",
    "KT&G Corp. holds majority market share in non-combustible tobacco segment",
    "Philip Morris aims for 2/3 smoke-free sales share by 2030"
  ],
  "editors_take": "Philip Morris Korea's launch of VEEV e-vapor product challenges KT&G Corp.'s majority market share in South Korea's non-combustible tobacco segment, amid the parent company's push for a two-thirds smoke-free sales share by 2030.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Yonhap News",
        "title": "Philip Morris to launch VEEV e-vapor product in S. Korea",
        "url": "https://urgent.news/2026/08/21/philip-morris-to-launch-veev-e-vapor-product-in-s-korea",
        "published": "2026-08-21T01:00:01.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}