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Korea: Kirin Brewery Co., Japan's largest beverage maker, announced on July 2 it will start selling its main brand of beer in Korea from this month, hoping to use the market as a springboard into other markets in the Asia Pacific, according to Bloomberg. Kirin will work with Hiscot Co., a subsidiary of Hite Brewery Co., the largest South Korean brewer, to begin sales of Kirin's Ichiban Shibori beer.

“With Korea as a foothold, we would like to expand our operations to other parts of Asia and Oceania,'' said Kumi Nakano, a Kirin spokeswoman.

Tokyo-based Kirin plans to gain bigger global market share to increase sales in part because of stagnant beer demand at home. The company said in May profit rose more than fourfold in the three months to March 31, aided by overseas sales of beer, especially in China and Australia. The initial sales will be small with Kirin aiming to sell 5,000 cases in South Korea this year, pricing each 355-milliliter bottle at 8,000 won ($6.94). Presently, Kirin's sales of lager are interrupted every time the local stock is exhausted.

The company comments confirmed an earlier Asahi newspaper report on the sales plan. Kirin shares fell as much as 0.9 percent, or 10 yen, to 1,078 yen as of 10:53 a.m. on the Tokyo Stock Exchange.


02 July, 2004