South Korea’s imports of beer and other alcoholic beverages from Japan jumped in the January-July period from a year earlier, helped by a weakening yen. (Yonhap)
SEOUL, Aug. 21 (Korea Bizwire) – While South Korea’s beer and whisky markets have recently experienced a downturn, Japanese products are bucking the trend with growing popularity, according to recent customs data.
From January to July ofthis year, imports of Japanese beer surged to $37.77 million, a 66% increase compared to the same period last year, the Korea Customs Service reported on the August 21. Japanese whisky imports also reached a record high of $6.2 million, up 9.9% from last year and nearly double the entire 2021 import value.
This resurgence comes after a significant slump in 2019 when a boycott of Japanese products, triggered by Japan’s export restrictions on South Korea, caused sales to plummet. Japanese beer imports, which had peaked at $78.3 million in 2018, bottomed out at $5.67 million in 2020 before rebounding to $55.52 million last year.
The recovery of Japanese beer in the Korean market is particularly noteworthy. Import volume for the first seven months of this year has reached 94% of the 2018 level, suggesting that the effects of the boycott have largely dissipated.
An industry insider noted, “Sales have significantly increased compared to the boycott period, although direct comparisons with 2018 are challenging due to the overall contraction of the beer market.”
The popularity of Japanese alcoholic beverages stands in contrast to the broader decline in alcohol imports. From January to July, overall beer imports decreased by 8.2% to $119.56 million, while whisky imports fell 10.2% to $143.17 million. Wine imports also saw a 16% decline to $263.29 million.
Japanese whisky has shown consistent growth in South Korea since 2018, even during the boycott. Last year, imports nearly doubled, approaching $8 million. Japanese sake, too, has been gaining popularity, with imports increasing 3.3% to a record $14.34 million in the first seven months of this year.
While the surge in Japanese alcohol imports can be attributed in part to the weakening of the yen, industry observers note that changing consumer preferences and a gradual easing of tensions between the two countries have also played a significant role.
This shift in the market has also affected other foreign brands. Chinese beer, which had briefly claimed the top spot among imported beers during the Japanese boycott, has now fallen to fourth place behind Japanese, Dutch, and American brands, following a widely publicized hygiene scandal at a Tsingtao brewery.
Ashley Song (ashley@koreabizwire.com)
