Jeju Beer Signs Exclusive Domestic Distribution Agreement for 'Seolhwa Beer' with China Hualun Beer

Jeju Beer announced on the 5th that it has signed an exclusive domestic distribution agreement with the global beer company Huarun Beer for its flagship product, Seolhwa Beer. Seolhwa Beer is the best-selling beer worldwide. As of 2021, it holds the number one position in China with a market share of 22.3%.

Huarun Beer, which has entered into a partnership agreement with Jeju Beer, is currently regarded as one of the largest liquor companies globally. Huarun Beer is the largest beer company in China, primarily engaged in beer manufacturing, sales, and distribution. It produces various products including Seolhwa Beer (SNOW), the world's top-selling beer, and premium products like Super X. It also holds distribution rights within China for global hit products such as Heineken. Huarun Beer is currently listed on the Hong Kong Stock Exchange, and as of the closing price on June 4, its market capitalization approaches KRW 18 trillion.

Unlike the stagnant domestic craft beer market, the Chinese craft beer market is growing rapidly. According to data released in 2022 by China International Capital Corporation Limited, the Chinese craft beer market is expected to grow rapidly over the next five years, reaching 134.2 billion yuan (approximately KRW 25.4483 trillion) by 2025. This accounts for 17% of the entire Chinese beer market. Through the partnership with Huarun Beer, a leading Chinese beer company, there is analysis that Jeju Beer could penetrate the Chinese craft beer market.

A representative from Jeju Beer said, "We are pleased to establish a partnership with the global company Huarun Beer," and added, "We will achieve performance growth through exclusive sales in Korea of the global hit product Seolhwa Beer."

The representative also stated, "Various discussions are currently underway, and we will first focus on the successful entry of Seolhwa Beer into the Korean market," adding, "In the future, based on Huarun Beer's local distribution network, Jeju Beer is expected to successfully enter the Chinese market."

Finally, the representative added, "We will soon be able to repay the long wait of our shareholders, and all employees will do their best to help Jeju Beer grow into a global F&B company."

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