Philip Morris International is expected to announce the launch of its heated smokeless cigarette IQOS in Korea next week, according to industry sources.

IQOS, which has already seen huge success in other markets including neighboring Japan, heats tobacco using a special device instead of burning tobacco, as in traditional cigarettes. 

The Korean launch of IQOS is expected to be officially announced through a press conference scheduled for May 17 with PMI Korea’s managing director Chong Il-woo. A spokesperson for PMI declined to offer comment.

The launch of IQOS has long been anticipated in Korea following the huge popularity of the product in Japan since its launch in 2014. Other companies such as British American Tobacco have also been watching the market to launch its own heated tobacco products.

The introduction of heated products has been delayed because of unstable prices and an absence of regulation in the category. 

By Won Ho-jung(hjwon@heraldcorp.com)