South Korea Sees 40% Surge in Whiskey Imports Through August, According to Customs Data

A shopper chooses whiskey products at a supermarket in Seoul on Sept. 11, 2023. (Yonhap)

SEOUL, Sept. 29 (Korea Bizwire) – South Korea’s imports of whiskey are anticipated to set a fresh high this year as the combined amount of inbound shipments soared 40 percent on-year through August, data showed Friday.

Imports of whiskey products came to 22,799 tons over the January-August period, jumping from 16,267 tons tallied in the same period in 2022, according to the data compiled by the Korea Customs Service.

South Korea’s imports of whiskey products plunged 19.7 percent on-year in 2020 due to the COVID-19 pandemic but gradually recovered to reach 27,038 tons last year.

If the current trend continues until the end of 2023, this year’s imports may beat the previous record of 27,379 tons tallied in 2002.

In terms of value, imports reached US$183 million, also up 5.6 percent over the period.

The import volume expanded at a faster pace compared to the value apparently due to the higher demand for budget products amid the popularity of whiskey-based cocktails among younger generations.

(Yonhap)