HiteJinro's Soju Exports Reach $102 Million Last Year... "Record Highest Growth Rate"

Published 27 Apr.2022 10:24(KST)

[Asia Economy Reporter Eunmo Koo] HiteJinro's soju export growth rate has reached an all-time high.

HiteJinro announced on the 27th that last year's soju export amount was $102 million (approximately 128.8 billion KRW), an increase of 36.3% compared to the previous year ($74.86 million). This is about double the amount compared to 2019, before the spread of COVID-19 ($58.62 million).

The soju export performance showed steady high growth rates across continents. The Greater China region increased by 47.6% to $25.58 million (approximately 3.23 billion KRW), and the Americas, including the United States, recorded a 47.3% increase to $19.44 million (approximately 2.45 billion KRW). Japan and Southeast Asia showed export growth rates of 20-30%.

HiteJinro analyzed, "Despite the COVID-19 situation, we responded swiftly and actively to market changes based on local market research," adding, "In the fiercely competitive global market, analyzing competing products and identifying trends such as the popularity of low-alcohol and fruit soju were also effective."

HiteJinro placed Chamisul and the Aseul series (Cheongpodo Aseul, Jamong Aseul, Ddalgi Aseul, Jadu Aseul) in large supermarkets and actively engaged in consumer events such as producing customized promotional materials by country and setting up tasting booths. Additionally, they opened a global YouTube page to communicate with the MZ generation (Millennials + Generation Z), who are active online communicators.

HiteJinro plans to continue two-way communication by introducing Korean drinking culture locally and conducting consumer events linked with businesses.

Hwang Jeong-ho, Executive Vice President of HiteJinro's Overseas Business Division, said, "This year, we will become a premium soju brand through differentiated strategies by country," adding, "We will accelerate growth and brand power in strategic Asian countries this year and actively discover countries with growth potential to expand sales to Europe and North America."