NEWS
FADING NIGHT-LIFE SHOWS SOUTH KOREA’S HARD-DRINKING CULTURE IS SHIFTING
By Susan Lewis
17-12-2024
Credit: Stephan Valetin/Unsplash
South Korea’s notorious hard-drinking culture is fading as corporate Korea slows down on hoesik, or after-work drinking bouts.
The common sight in Seoul’s once vibrant drinking areas now is half-empty pubs and bars, which used to be jammed up with office workers unwinding with Korean mung bean pancakes and shots of the fiery local rice wine makgeolli.
South Korean media said reasons behind the change is multi-fold, the most important being a general reluctance of consumers to open their wallets due to higher interest rates and lingering inflation
And then there is the emergence of an emboldened class of younger female workers who are refusing to be part of these drunken sessions.
The consumption downturn has dealt a major blow to popular second-round places, and reflects a broader slowdown in domestic demand in Asia’s fourth-largest economy, which barely grew in the third quarter.
It also underlines the challenges facing South Korean businesses from noraebangs, or singing rooms, to retail rents and small pubs.
“I don’t see anyone drink anymore. The streets here used to be packed... that’s long gone,” a small pub owner in Seoul told local media.
While elevated borrowing costs remain a dampener on consumers generally, the fast-disappearing small pubs suggests this is going to be a long-term trend.
The rise of a health-conscious younger generation across the region is one key factor.
In neighbouring Japan, for instance, increased health awareness and the flexible working style brought about by the pandemic have also led to a decline in their alcohol consumption, according to a survey by Euromonitor.
(the writer can be contacted at: info@thewinechronicle.com)
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