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Biz News Korea(Eng)

Whisky sales in Korea in eighth year slump amid prolonged economic slowdown

Collected: 2017.01.05

Distributed: 2017.01.06

Source: Go Direct

Whisky sales have sagged for eight straight years in Korea as lengthy economic slowdown has put a strain on Koreans’ drinking binge along with a powerful anti-graft law that significantly cut the expense for after-work socializing.

Koreans drank up 1.67 million boxes of whiskies last year, down 4.5 percent from a year ago. Each box contains 18 0.5-liter bottles. Whisky sales have been hitting downhill after peaking at 2.85 million boxes in 2008.

Diageo Korea Co. sold 609,999 boxes last year to maintain top rank thanks to its bestselling brand “Windsor.” Golden Blue gained popularity as softer spirit sold 369,461 boxes, gaining 31 percent from a year ago. Pernod Ricard Korea - the distributor of “No. 2 Imperial” has fallen from grace and slipped to third with 356,261 boxes. Lotte Liquor Co., a liquor unit under South Korea`s conglomerate Lotte Group, came in fourth selling 183,199 boxes throughout 2016.

William Grant & Sons Korea Ltd., well known as producer of single malt whisky “Glenfiddich,” advanced to fifth thanks to its low-alcohol whisky “Green Jacket” introduced in last April that helped boost its overall sales by 68 percent from a year earlier.

By Seo Jin-woo

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