This Year’s Beer, Whiskey, and Wine Imports All Decreased "Because the Economy Is Not Good..."

Customs Service Export-Import Statistics... Alcohol Imports from January to July
Decline in 'Honsuljok' Due to COVID-19 and Increased Variety of Domestic Beer

As of July this year, imports of alcoholic beverages such as beer, whiskey, and wine all decreased by around 10% compared to the previous year.

[Image source=Yonhap News]

According to customs import-export statistics on the 21st, wine imports from January to July amounted to $263.29 million (approximately 350 billion KRW), down 16% from the same period last year, while whiskey imports were $143.17 million (about 190 billion KRW), a 10.2% decrease. Beer imports totaled $119.56 million (around 160 billion KRW), down 8.2% compared to the same period last year.

Wine imports increased sharply during the COVID-19 pandemic, rising from $259.25 million in 2019 to $581.28 million (about 770 billion KRW) in 2022, before declining to $506.02 million last year. The downward trend in wine imports has continued this year following last year.

Whiskey imports grew from $132.46 million in 2020 to $266.84 million (approximately 350 billion KRW) in 2022, doubling in size, but then decreased to $259.67 million last year.

Beer imports exceeded $300 million (about 400 billion KRW) in 2018 but have declined for five consecutive years through last year, continuing the downward trend this year as well.

By country, imports of Japanese beer increased after the boycott ended, but imports of Chinese beer sharply declined due to the urination scandal at the Qingdao beer factory.

From January to July, Japanese beer imports were $37.77 million (about 5 billion KRW), up 66% from the same period last year, while Chinese beer imports were $11.3 million (about 1.5 billion KRW), down 51%, ranking fourth after Japan, the Netherlands, and the United States.

An industry insider explained, "The wine market grew significantly during COVID-19 as the 'solo drinking' culture spread, but its popularity seems to have waned now. Whiskey experienced a single malt boom, but the high-end whiskey market shrank due to the economic downturn, and drinking habits shifted mainly to highballs, which caused some impact."

Regarding the decline in beer imports, the insider said, "The diversification of the domestic beer portfolio and strengthened marketing efforts likely also influenced the decrease in beer imports."

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