SEOUL, Jan. 23 (Korea Bizwire) — Beer imports in South Korea declined last year for the first time in a decade, a phenomenon not seen since the 2009 global financial crisis. Analysts say beer imports, which recently peaked in terms of growth, showed signs of falling. Adding to the symptom of decline was a boycott [...]
SEOUL, Jan. 9 (Korea Bizwire) — South Korean beer producers are scrambling to fill the vacuum created in the local beer market after Japanese beer suffered a massive loss in market share due to a recent boycott movement against all things Japanese. CU, a major South Korean convenience store chain, announced on Wednesday that sales [...]
SEOUL, Jan. 6 (Korea Bizwire) — Starting in the new year, the standard for levying liquor taxes on beer and raw rice wine has changed from a price-based “ad valorem” duty to forwarding volume-based “specific commercial duty” for the first time in 52 years. In a related move, the National Tax Service (NTS) said Sunday [...]
SEOUL, Nov. 29 (Korea Bizwire) — South Korean imports of Japanese beer tumbled more than 99 percent on-year in the past two months due to a boycott of Japanese products amid a bilateral trade row, data showed Friday. South Korea brought in Japanese beer worth US$38,000 in October, down 99.5 percent from a year earlier, [...]
SEOUL, Oct. 24 (Korea Bizwire) — Beer makers in the South Korean imported beer market are in a fierce competition to win the top seat that was once occupied by Japanese beer. According to the Korea Customs Service, Japanese beer had the largest share in the imported beer market in South Korea for 10 years [...]
SEOUL, Oct. 10 (Korea Bizwire) — Seoul’s Jung District announced on Tuesday that the 2019 Euljiro Oktoberfest will be held in the Euljiro Nogari Alley, an old alley famous for dried young pollack known as “nogari” grilled on charcoal briquettes and served with draft beer, from October 10 to 12. Euljiro, also known as “Hipjiro” [...]
SEOUL, Sept. 17 (Korea Bizwire) — The 5th Sinchon Beer Festival will be held at Yonsei-ro in Sinchon, Seoul from September 20 to 22. The festival first began in 2015, soon becoming one of Sinchon’s landmark festivities to celebrate youth. The theme of this year’s festival will be ‘books and beer,’ where people will be [...]
SEJONG, Sept. 16 (Korea Bizwire) — South Korean imports of Japanese beer fell 97 percent in August from a year earlier due to a boycott of Japanese products amid a bilateral trade spat, data showed Monday. The value of imports of Japanese beer came to US$223,000 in August, compared with $7.56 million in the same [...]
SEOUL, Sept. 13 (Korea Bizwire) — South Korean beer exports to China shot up nearly four-fold in the last three years, data from a state-run trade promotion agency showed Friday. According to the Korea Trade-Investment Promotion Agency (KOTRA), beer shipments to China reached US$91 million in 2018, up 83 percent from $50 million the previous [...]
SEOUL, Aug. 28 (Korea Bizwire) — The convenience store industry will exclude Japanese beers from promotional events next month in consideration of worsening public sentiment toward Japan. According to retail industry sources on Tuesday, major convenience store chains such as CU, GS25 and 7-Eleven excluded Japanese beers such as Asahi, Sapporo and Kirin Ichiban from [...]