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한상넷 로고한상넷

전체검색영역
Korea’s soju makers eagerly turn to Southeast Asia
Collected
2017.03.09
Distributed
2017.03.13
Source
Go Direct
South Korea’s distilled rice liquor “soju” shipment to Southeast Asian countries surged 59.1 percent over the last three years, riding on the popularity of Korean TV programs and movies where the favorite spirit of Koreans is often romanticized as a way of drowning sorrow.

According to Korea Customs Service on Wednesday, the country’s soju export to Southeast Asian countries like Vietnam and Thailand for full 2016 recorded 5,717 tons, jumping 59.1 percent from 3,592 tons in 2013. The shipment to Southeast Asia accounted for 8.2 percent of Korea’s total export, rising from 3.6 percent share in 2013.

The strong growth of Korean soju sales in Southeast Asia comes after Korean liquor companies’ aggressive efforts to capture rising liquor demand in Southeast Asia amid fast economic growth and frenzy over Korean pop culture in the region. Previously, soju was drunk entirely by Koreans visiting or living the region.

HiteJinro Co, Korea’s number one soju maker has been most eager to expand in Southeast Asia. The company established a subsidiary in Hanoi, Vietnam in the beginning of last year with an aim to up its presence in Southeast Asia. In 2011, it formed a partnership with Thailand’s largest liquor maker Boon Rawd Brewery Co. and opened duty free shops in airports across Southeast Asian countries including Singapore. Its active sales pitch during the past years paid off. Shipment to Southeast Asia recorded $13.2 million last year, skyrocketing from $2.65 million in 2011, said the company.

Lotte Liquor BG Co., Korea’s second largest soju maker that up until now focused on Japanese liquor market also has turned attention to Southeast Asia, and the number 3 soju maker Muhak Co. is about to ink a deal to purchase a land to build a production base in Southeast Asia.

By Jeon Ji-hyun

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]