South Korea: Beer imports up 18% in 2018
South Korea’s imports of alcoholic beverages exceeded US$1 billion for the first time last year despite the economic slump, with beer and wine leading the growth, the Chosun Ilbo reported on January 21.
The Korea Agro-Fisheries and Food Trade Corporation said on January 18 that Korea imported around $1.05 billion worth of alcoholic beverages in 2018, up 13 percent on-year.
Imports of beer rose 18 percent from $263.09 million to $309.68 million over the same period. The imported beer market has nearly tripled since imports reached $100 million in 2014 with a sales boom of craft and premium beer.
Wine imports have also grown consistently. They surpassed the $200-million mark in 2017 and grew another 16 percent in 2018 to $244 million.
Imports of whisky increased 1.6 percent on-year to $155 million, but they fell a whopping 23 percent compared to those in 2014.
"We are seeing fewer corporate gatherings and a growing tendency of people to drink alone, leading to increased consumption of beer and wine," an industry source said, particularly discount beer offered at convenience stores and affordable wine in the W10,000 to W20,000 range (US$1=W1,123).
Înapoi
(libra 0.6875 sec.)