South Korea, Seoul: Beer sales in South Korea grew about 2% in 2004 in the wake of a prolonged economic slump, industry sources said on January 14. A total of 219 million boxes of beer were sold last year, compared with 198 million boxes a year earlier. Each box contains 20 500-milliliter bottles, according to Yonhap News Agency.
Last year's gain, however, represented a switch from a 3.7% drop in 2003, which was affected by strong sales in the previous year because of the 2002 Korea-Japan World Cup. Sales by the industry leader Hite Co. rose 4.8% to 117 million boxes last year, while Oriental Brewery Co. saw its sales drop 1.8 percent to 84.4 million boxes.
Local brewers sold 15.5 million boxes in December, down 6.8% from a year ago, indicating South Koreans consumed less beer at their year-end parties, according to the sources.
Despite strong exports, the country's economy was dogged by anemic private consumption triggered by the collapse of a consumer credit bubble in 2002. Private consumption fell 0.8% in the third quarter of last year, the sixth consecutive quarter of decline.
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