From Open Runs to Bottle Trading... Whiskey's Popularity Continues to Rise Day by Day

Rare Whiskey Sparks 'Open Run' Queue Among 2030 Generation
Active Trading of Empty Whiskey Bottles Also Observed

Photo by Pixabay.

[Asia Economy Reporter Heo Midam] Recently, whiskey has been gaining popularity among the 20s and 30s generations. Once considered the exclusive domain of middle-aged and older adults, whiskey has become scarce as the 'home drinking' culture has spread since COVID-19. In particular, for popular products, not only do people line up from early morning in so-called 'open runs' to purchase them, but some are even using whiskey as a means of investment.

Whiskey's popularity in South Korea has been steadily increasing. According to customs import-export trade statistics, whiskey imports from January to June this year amounted to $123.65 million, a 61.9% increase compared to the same period last year ($76.39 million). The import volume was 11,189 tons, up 63.8% from 6,829 tons in the same period last year. This is due to the spread of premium alcohol culture centered on young people after COVID-19, as well as the home drinking culture where cocktails are made and consumed at home becoming a new trend.

As a result, open run lines to obtain rare whiskey continue. Earlier, at the 'Whi-Run' event held by GS25 on the 16th of last month, open runs occurred mainly among young people. The event sold rare whiskeys such as ▲Balvenie 12 Year DoubleWood ▲Balvenie 12 Year American ▲Balvenie 14 Year Caribbean ▲Balvenie 15 Year Single Barrel. Of the total 800 bottles prepared, about 300 bottles of the popular Balvenie four types and Russell Reserve Single Barrel sold out quickly within an hour.

GS25 analyzed customers who purchased these whiskey products and reported that the age distribution was ▲30s 43.4% ▲20s 39.5% ▲40s 14.8% ▲50s and above 2.3%. The 20s and 30s generations accounted for over 80% of the total.

As whiskey demand rises, prices are also soaring. The 'Balvenie DoubleWood 12 Year (700ml)', popular as an entry-level single malt whiskey, rose from around 70,000 KRW in 2019 to 90,000 KRW last year, and this year it jumped to around 120,000 KRW. Additionally, in January this year, the price of Beam Suntory's whiskey 'Jim Beam (200ml)', sold at convenience stores and large supermarkets, increased by about 17%.

Posts selling used empty whiskey bottles are being posted one after another. Photo by Naver screen capture.

Some are even using whiskey as a means of investment. For example, they post empty whiskey bottles on secondhand trading platforms. Since personal alcohol transactions are illegal under current law, it appears that people trade whiskey bottles instead of whiskey itself. To profit from selling alcohol, individuals must collaborate with licensed distilleries or obtain a license themselves.

Searching for 'whiskey bottles' on secondhand trading platforms shows prices ranging from a few thousand KRW to several hundred thousand KRW. Notably, an empty bottle of the 'Louis XIII Black Pearl', released worldwide in a limited edition of 786 bottles in 2007, is currently traded at 1.9 million KRW. At that time, the selling price of the whiskey was 15 million KRW.

Meanwhile, the global premium alcohol market size is expected to reach $1.7 trillion (approximately 2,309 trillion KRW) by 2032. According to a report by Future Market Insights, the global premium alcohol market is expected to grow at a high annual growth rate of 9.3% until 2032.

This content was produced with the assistance of AI translation services.