South Korea & Japan: Brewer Hite says no plan to sell Jinro

Hite Brewery Co., South Korea's largest beermaker, said its affiliate Jinro Ltd. won't sell its sales unit in Japan, Asia Pulse reported December 4.

"We have no willingness to sell Jinro Japan," Lee Jang-kyu, vice chairman of Hite, told reporters in Seoul. Hite acquired Jinro in 2005.

Rumors have circulated that Hite might sell Jinro's unit in Japan as it lost market share when Jinro was in a court receivership before being bought by Hite.

Seeking growth outside South Korea, Hite is considering opening subsidiaries in Russia, Southeast Asian nations and the United States after completing the setting up of a sales unit in China, scheduled for the end of this year, Lee said.

05 December, 2007