SEOUL, Aug. 29 (Korea Bizwire) — The National Tax Service has decided to rescind a controversial policy requiring suppliers to unify the price of liquor regardless of the amount of liquor they are supplying to various vendors, taking a step back from its original stance. The tax agency announced on Wednesday that it will implement [...]
SEOUL, Sept. 21 (Korea Bizwire) — With the Chuseok weekend just around the corner, an increasing number of Koreans are expected to consume soju at home during the major holiday weekend. According to HiteJinro Co., the nation’s top distiller, an analysis of the sales figures of soju sold during the Chuseok weekend over the last [...]
SEOUL, May 29 (Korea Bizwire) – Sales of whiskey in South Korea have declined sharply over the last decade due largely to a shift in the country’s drinking culture, industry data showed Monday. The domestic sales of the spirit hit 1.67 million boxes, or some 30 million bottles, in 2016, down 41 percent from 2.84 [...]
SEOUL, May 2 (Korea Bizwire) – Sales of beer in South Korea are posting robust growth this year, largely backed by strong demand for imported beers, as consumers prefer to have light drinks over a meal instead of heavy liquor, industry sources said Tuesday. According to data by E-Mart, the country’s largest discount outlet chain [...]
SEOUL, Jan. 13 (Korea Bizwire) – Leading whisky brands in South Korea are resorting to law violations to push up sales for the Lunar New Year holiday and make up for the slumping market, industry officials said Friday. Liquor companies market specially packaged gift sets for the holiday when tens of millions of South Koreans [...]
SEJONG, Jan. 9 (Korea Bizwire) – The price of soju, a rice-based liquor most popular with local drinkers, leaped 11.7 percent in 2016 from the year before, the highest rate of increase since recordkeeping began in 2000, a statistical agency said Monday. Prior price hikes for soju were 8 percent in 2001-2002 and 3.7 percent [...]
SEOUL, Dec. 2 (Korea Bizwire) – Food and liquor products have been among the best-selling items at South Korean discount stores in 2016 as major chains have released a variety of home replacement meals and ready-to-eat products, industry data showed Friday. E-Mart, the nation’s largest chain operated by Shinsegae, said liquor was the most popular [...]
BUSAN, Aug. 11 (Korea Bizwire) – With the average legal-aged Korean consuming 90 bottles a year, soju is undoubtedly the most popular distilled alcoholic beverage in Korea. Virtually unknown abroad, the drink’s popularity has recently begun to pick up momentum overseas. Busan-based distiller Daesun is better known for its soju brand C1. According to Daesun, [...]
SEOUL, July 5 (Korea Bizwire) – Liquor companies, barred from public spaces and airtime, are resorting to top celebrities for maximized advertisement effect, according to industry officials Tuesday. The government has been tightening regulations on liquor ads, revising the law on national health improvement. Recent changes include barring liquor ads on TV from 7 a.m. [...]
SEJONG, Dec.28 (Korea Bizwire) – As people start to avoid heavy drinking and turn their preference towards softer alcoholic beverages, the consumption of beer in Korea has increased while the consumption of soju has gone downhill. According to an investigation conducted by the Ministry of Agriculture, Food and Rural Affairs and Korea Agro-Fisheries & Food [...]