Objectives: This paper estimates willingness to quit smoking(WQS) cigarette price among Korean adults and examines the factors related to WQS price. Methods: Data on 799 participants in a random dial telephone survey with questions designed based on Contingent Valuation Method were analyzed by conducting t-test, ${chi}^2$ test, and OLS. Results: The median and the mean of the distribution of WQS prices were 3,000 won and 3,862 won, respectively. Age, household income, the amount of smoking, and the length of smoking period were related to WQS prices. Conclusions: The results show that increase in cigarette price could be an effective policy tool to make smokers quit smoking when the increase in cigarette prices is substantial enough to be over WQS prices. This implies that with its effect on low-income smokers to consider quitting smoking or reducing the amount of smoking, increase in cigarette price can be income-progressive in the long run by reducing the amount of expenditure spent on cigarette purchase.