South Korea's beer and whiskey imports shrink, while Japanese imports grow steadily

Published 2024년 8월 21일

Tridge summary

The Korea Customs Service has reported a decrease in the import value of beer and whiskey products from January to July of this year, with beer imports down by 8.2% to $119.56 million and whiskey imports down by 10.2% to $143.17 million. However, there has been a significant increase in the import value of Japanese beer and whiskey. Japanese beer imports have seen a 66% increase to $37.77 million, and Japanese whiskey imports have increased by 9.9% to $6.2 million, reaching a record high. This comes despite South Korea's boycott of Japanese goods from the second half of 2019.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to a set of statistics released by the Korea Customs Service (Customs) on the 21st, from January to July this year, the import value of beer decreased by 8.2% year-on-year to US$119.56 million; the import value of whiskey products decreased by 10.2% year-on-year to US$143.17 million. On the contrary, the import value of Japanese beer increased by 66% year-on-year to US$37.77 million; the import value of Japanese whiskey increased by 9.9% year-on-year to US$6.2 million, setting a new record for the same period, equivalent to twice the annual import value of 2021 (US$3.16 million). Japanese beer once firmly occupied the first place in the Korean imported beer market. Later, due to Japan's export restrictions on South Korea, South Korea launched a boycott of Japanese goods since the second half of 2019, and Japanese beer was also rejected. The import ...

Source: Foodmate