The South Korean wine market is showing impressive growth. Behavioural shifts that evolved during the global pandemic, such as drinking at home, ordering and studying wine online, are becoming more widespread. New categories like natural, orange, biodynamic and lower alcohol wine are spiking consumer interest, and the demand for wine education is surging. The increasing popularity of wine amongst younger drinkers indicates additional growth opportunities for brand owners and producers. Louise Hurren reports.
South Korea is one of Southeast Asia’s most attractive markets for wine exporters, given an affluent population who are increasingly interested in wine. According to a USDA Foreign Agricultural Service report, France was the leading supplier of wine to Korea in 2014, followed by Chile, and then Italy. James Lawrence asked experienced market watchers for their thoughts.
The South Korean market is undergoing an upswing at present, says Jung Yong Cho. But market consolidation means fewer opportunities to get into the market through an importer, as the big companies are sourcing directly.