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May 30, 2022 View:

To reduce people's alcohol consumption Korean alcohol prices may rise

South Korea's Ministry of Welfare said that the government will consider price control policies including a health tax on alcohol products in order to guide people to reduce alcohol consumption, according to the Korea JoongAng Daily.

Image courtesy of: Wine Magazine

It is reported that health tax is an additional tax levied in addition to consumption tax, and the current health tax levied on a box of cigarettes is 841 won (about 5 yuan). If alcohol products are taxed according to similar standards, the price of soju and beer may rise by about 20% to 30% from the current level.

Emmm, after the price increase, how big will be the impact on the sales of alcohol products?