MoEF "No Tobacco Price Increase After General Election... Will Hold Industry Meeting"

Despite the government's repeated denials, rumors of a cigarette price increase after the general election continue to circulate. The Ministry of Economy and Finance stated, "There are no plans to consider raising cigarette prices even after the general election." They also mentioned plans to meet with tobacco industry representatives to clarify the government's stance.

A Ministry of Economy and Finance official met with reporters at the central government building in Sejong City on the 5th and said, "We will soon hold a meeting with tobacco industry representatives to clearly express the government's firm position."

[Image source=Yonhap News]

Earlier, the government had stated at the confirmation hearing of Choi Sang-mok, Deputy Prime Minister and Minister of Economy and Finance, that there would be no increase in cigarette prices. Last month, they also issued a press release denying any plans to raise cigarette prices. However, as reports citing industry sources about a potential price hike continued, the government decided to meet with industry representatives.

The Ministry official said, "During an executive meeting, there was a question about why such rumors keep emerging despite the government's repeated statements." He added, "The purpose of meeting with tobacco industry representatives is to hear why these rumors are spreading and to convey the government's position." He noted that no specific plans have been set yet.

On the same day, the Ministry of Economy and Finance released a statement saying, "The government is not considering any tax rate increases on tobacco or any cigarette price hikes, and there are no plans to do so after the general election. We ask that reports based on unfounded rumors of price increases be refrained from."

This content was produced with the assistance of AI translation services.