South Korean whiskey sales reportedly fall 12.4% year-over-year to 1.5 million boxes in first 10 months of 2013
November 13, 2013
(Business Monitor International)
– News: South Korean whiskey sales have seen a drop in the first ten months of 2013, mainly due to continued economic slowdown, reports Drinks Business Review. The country's whiskey sales in the period January-October 2013 declined 12.4% y-o-y to 1.5mn boxes. UK-based brewery Daigeo's local subsidiary sold 578,662 boxes in the first ten months of 2013, which represents an 11.8% y-o-y decline.
BMI View: The South Korean alcoholic drinks sector remains a reasonably-attractive investment proposition to foreign players, and their expansionary efforts should serve to maintain dynamism within the sector. The likes of Suntory , Sapporo and Reed's have entered into distribution agreements with local beverage industry players as they look to secure future growth beyond the stagnant domestic market.