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SOUTH KOREA WINE IMPORTS UP 9.5% JAN-AUG AS MORE PEOPLE DRINK AT HOME

By Siulan Law Mathews DipWSET

1-10-2020



Credit: David Mathews

South Korea’s wine imports rose 9.5 percent in the first eight months of this year as more people enjoyed drinking at home due to the coronavirus pandemic, according to South Korea’s Yonhap News Agency.

Quoting data from Korea International Trade Association, the news agency said South Korea imported USD189 million worth of wines between January and August 2020, up 9.5 percent from a year earlier.

In August alone, wine imports spiked 43 percent compared to August last year due to a rise in the number of people having staycations at home.

August is traditionally a quieter month for wine imports in Korea, August 2019 saw a 4.3 percent decline compared to August 2018.

The Yonhap report said imports of French wines were the largest at USD53m in the eight-month period, followed by those from Chile, the United States, Italy and Spain. Imports of wines from United States shot up 51 percent.

In contrast, imports of whisky in the period sank 26.6 percent year-on-year to USD74m. The report said it’s because less consumers visited bars and pubs due to COVID-19 restrictive measures.

Beer imports plunged 22.1 percent to USD157m. Imports of Japanese beers tumbled 90.6 percent to USD4m due to a boycott of Japanese products by South Korean consumers.

South Korea’s wine imports has been rising in recent years. There was an increase of 9.7 percent in 2017, 16.2 percent in 2018 and 6.3 percent in 2019.

(the writer can be contacted at: info@thewinechronicle.com)

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