E-Malt.com News article: South Korea: Whiskey market shrinks in volume with focus shifting to premium bottles

South Korean whiskey consumption is being reshaped toward buying "one solid bottle with the money for two." Imports of mid-to-low-priced blended products that fueled the highball craze have plummeted, while demand for single malts aged 15 years or more and limited-edition whiskeys remains steady, prompting liquor companies to significantly expand their premium lineup supply, BiGo Finance reported on September 11.

According to the liquor industry on the 11th, Scottish single malt whiskey GlenDronach unveiled its first-ever dedicated gift set for its 15-year-aged product ahead of this year's Chuseok holiday. The company had previously offered packaging with dedicated glasses only for its 12-year product, but as demand grew, it secured additional supply for the South Korean market and newly designed a Chuseok gift configuration accordingly.

A Brown-Forman Korea representative said, "As purchase demand for GlenDronach 15-year has increased, we secured more volume for South Korea this year and planned the Chuseok gift set package to match."

GlenDronach is also expanding domestic supply of premium limited editions to mark the distillery's 200th anniversary this year. It has imported 3,000 bottles of the 14-year-aged limited edition "Boynsmill House Edition," released to commemorate the bicentennial.

Other liquor companies are also successively launching products targeting South Korean premium demand. The Macallan released its 18-year-aged limited edition "Diamonds Are Forever 55th Anniversary Release" at Lotte Department Store's Jamsil branch in June. Despite a retail price reaching 1.4 million won (approximately $1,000), the entire prepared stock sold out on launch day.

Pernod Ricard Korea launched the Korea-exclusive limited edition "Ballantine's Single Malt Glenburgie 16-Year Small Batch 2" in March. It is the follow-up to "Glenburgie 16-Year Small Batch," which sold out immediately after its debut in 2024. Building on the strong sales of the first product, the company released its second Korea-only edition in just two years.

Behind these moves lies a structural shift in whiskey market consumption. Whiskey consumption, which exploded during the COVID-19 era amid the home-drinking and solo-drinking trend, has recently cooled, shrinking the overall market in volume. However, consumers who scrutinize aging years, casks, and rarity continue to seek out high-priced products.

According to Korea Customs Service import-export statistics, South Korea's whiskey import volume peaked at 30,586 tons in 2023, roughly doubling from 15,662 tons in 2021, before declining for two consecutive years to 27,441 tons in 2024 and 22,582 tons last year. Meanwhile, the average import price per kilogram rose steadily from $8.49 (approximately 11,000 won) in 2023 to $9.09 (approximately 12,000 won) in 2024 and $10.04 (approximately 14,000 won) last year.

On a cumulative basis for January through July this year, import volume fell 24.0% year-on-year, but the average import price per kilogram rose 22.9% to $11.46 (approximately 15,000 won). Compared to the same period in 2023, import volume has fallen 46.3%—essentially halved—while the average import price has risen 42.6%.

Sales trends by distribution channel also diverge sharply by price range. Last year at E-Mart (139480.KS), whiskey sales in the 30,000–100,000 won range fell 19% year-on-year. In contrast, sales of products in the 100,000–200,000 won range and above 200,000 won rose 34% and 28%, respectively.

At Lotte Mart, whiskeys priced above 100,000 won (approximately $74) accounted for 49.0% of total whiskey sales last year, up from 42.9% in 2024. Over the same period, the share of products in the 30,000–100,000 won range fell from 49.5% to 42.4%.

GS25's liquor smart-order service "Wine25Plus" also saw single malts account for 61% of whiskey sales in the first half of this year, up 15 percentage points from the previous year. Premium single malt sales above 100,000 won surged 126%, while the sales share of blended whiskeys in the 20,000–40,000 won range—primarily consumed for highballs—fell by about 30%.

A liquor distribution industry official said, "The 'mixology' trend that spread after the pandemic, centered on low-priced whiskey and highballs, is now shifting toward consumption that appreciates the flavor of whiskey itself, such as single malts." The official added, "As consumers can easily access whiskey information and brand stories through social media, more people are choosing products based on aging methods and the characteristics of the base spirit."



15 September, 2026