U.S. electronic cigarette maker Juul Labs is pulling out of the Korean market just a year after its launch here amid health concerns over its products.
The company announced on Wednesday, "We decided to stop operations in Korea, and have notified sellers here."
Launched in the U.S. in 2015, Juul, a liquid e-cigarette, sold well due to its odorlessness and portability.
Its market share in the U.S. reached 75 percent in the first half of last year. But after seeing brief popularity, the company found itself embroiled in controversy as critics claimed e-cigarettes had caused adolescents around the world to take up smoking.
There were also reports that several deaths related to a lung disease were caused by vaping. Juul was subsequently dropped by big retailers such as Walmart, and its market share is shrinking.
In October last year, health authorities here warned against the use of e-cigarettes. Convenience stores stopped sales or reduced the types of e-cigarettes available since then.
"We came to the conclusion that it is no longer viable for us to run a business here. We will decide on when exactly to pull out after holding discussions with retailers," the company said.
