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Tag: Philip Morris Korea

  • Philip Morris Korea Appoints New Managing Director

    Philip Morris Korea Appoints New Managing Director

    Philip Morris Korea named Lee Hong-suk as its new managing director, effective May 1, as the company continues to advance its smoke-free product strategy in the country. Lee, who has been with Philip Morris International since 1999, has held senior roles across multiple markets and most recently led the company’s smoke-free products division in Korea.

    In his new role, Lee will oversee operations in one of PMI’s key markets for alternatives such as IQOS, with a focus on expanding the company’s presence and engagement with stakeholders. The company said Lee will be essential as it continues to prioritize smoke-free product development and commercialization in the Korean market.

  • Korea Says Tobacco Toll is $30B as Court Ruling Approaches

    Korea Says Tobacco Toll is $30B as Court Ruling Approaches

    South Korea’s long-running lawsuit against tobacco companies is back in focus following new research showing smoking has imposed a major and rising burden on the national health insurance system. A study released January 5 by the National Health Insurance Service and the World Bank estimates smoking-related medical costs at 40.7 trillion won ($29.9 billion) from 2014–2024, with annual costs rising nearly 70% over the period despite declining smoking rates. More than 82% of costs were borne by public insurance, driven largely by cancer treatment, particularly lung cancer, the study said.

    Health officials say the findings strengthen the NHIS’s damages claim against KT&G, Philip Morris Korea, and BAT Korea, ahead of an appellate ruling expected later this month. Filed in 2014, the case is South Korea’s first tobacco lawsuit brought by a public institution seeking compensation for smoking-related health care expenses.