A whisky section of a discount store in Seoul (Yonhap)
SEOUL, Dec. 1 (Korea Bizwire) — South Korea’s whisky imports spiked nearly 62 percent in the first 10 months of the year as more people drank at home amid the coronavirus pandemic, data showed Thursday.
The value of imported whisky stood at US$218 million in the January-October period, up 61.8 percent from a year earlier, according to the data from the Korea Customs Service.
The volume of whisky imports also shot up 75.5 percent on-year to 21,251 tons in the 10-month period.
It marks the second straight year of increases in the country’s whisky imports. In 2021, South Korea’s whisky imports swelled 32.4 percent on-year to $175 million, the first on-year gain since 2014.
South Korea’s whisky imports had been on the skids since peaking at $264.6 million in 2007. Fueling the downturn was the implementation of the country’s draconian anti-graft law in 2016 and a 52-hour workweek in 2018.
Industry sources attributed this year’s surge mainly to the fact that a growing number of people are drinking at home amid the COVID-19 pandemic.
Also responsible was the diversified ways in which young Koreans are drinking whisky, including one in which people consume whisky mixed with soda water and other drinks.
Market watchers predicted South Korea’s whisky imports to expand further next year in light of the liquor’s growing popularity among local drinkers.
(Yonhap)
