Wine in South Korea

PROSPECTS

Innovative new products drive growth for takju

Sales of takju showed positive performance in 2018 supported by launches of new flavours, a wider consumer base and improved marketing. Young adult consumers of legal drinking age in particular are the main drivers for growth of premium takju.

Red wine continues dominance but sparkling and white gain ground

There was a rise in the consumption of sparkling and white grape wine in South Korea during the review period, linked to the increasing consumer interest in diversified wine categories and lighter drinking. While red wine has a more formal image, sparkling and white wine attract consumers by offering a new lifestyle option such as apéritifs or party drinks for casual gatherings.

Natural wine to be seen as a health and wellness option

Natural wine gains popularity in urban areas in South Korea. Millennials are the main consumers as natural wine is considered as an Instragrammable and hip drink for those legal drinking age.

COMPETITIVE LANDSCAPE

Seoul Takju Association dominates wine followed by Busan Takju

Seoul Takju Association remained the leading wine player in 2018 due to its highly successful brand Jangsu Makkeoli. The company focuses on diversifying its makkeoli portfolio, especially by expanding the consumer base to young adults of legal drinking age adding sweeter flavours and lowering the ABV.

Shinsegae L&B experiences rapid growth

The Korean wine market grows as large distributors become more interested in running a wine business. Retail conglomerates expand their presence in the wine category, making it difficult for small-to-medium sized importers.

Wine price war among retailers heats up

Wine in South Korea is considered a premium alcoholic drink and has a higher price than other drinks such as beer and soju. However, intensified competition drives importers and retailers to offer better prices.

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