South Korea: Alcoholic beverage companies eyeing to boost at home consumption

South Korea's alcoholic beverage companies are eyeing to boost alcohol consumption at home with the COVID-19 outbreak decimating hospitality businesses across South Korea, EconoTimes reported on December 16.

Restaurants and bars, usually packed with group dinner reservations as the year ends, are forced to close after 9 p.m. in Seoul and surrounding areas under strict social distancing rules.

An official at liquor manufacturer HiteJinro said that while they are not protesting the government’s policy to limit opening hours, the industry is left in poor shape and forced to focus on the home drinking market.

There are over 1,000 daily coronavirus cases in South Korea.

December and the summer months are the peak sales seasons for the industry.

With the pandemic changing people‘s drinking patterns, wine has become more popular being preferred by home drinkers.

HiteJinro registered an annual sales growth of 11.2 percent for wine on December 14.

Meanwhile, sales of imported whiskey and beer are set to shrink this year, being more reliant on bar sales.

Alcohol beverage makers are also prioritizing packaging and diversifying their range of products for those drinking at home.

Oriental Brewery will come up with a “winter special package” of its malt lager brand OB Lager, while HiteJinro’s liquor brands, Chamisul and Jinro, have also released Christmas limited editions.

The liquor companies are also releasing at-home party packs for those drinking at home.

16 December, 2020