South Korea liquor shipments hit 27-year low

South Korea's domestic liquor shipment volume fell below 3 million kiloliters last year, marking the lowest level in 27 years since the 1998 IMF financial crisis. Data from the National Tax Service indicates a structural decline in the market, with major categories such as beer, soju, and makgeolli all seeing continuous decreases.

Beer shipments fell by 7.2% for the third consecutive year, while soju shipments dropped below the 800,000 kiloliter mark for the first time in three years. Makgeolli (takju) has experienced a five-year downward trend. This decline is attributed to shifting social norms, including a decrease in company drinking culture, an aging population, and increased health consciousness.

Consumer behavior is also evolving. Recent surveys show a decrease in both the frequency and amount of alcohol consumed. Instead of large group gatherings, there is a rising trend in ‘home drinking’ and ‘solo drinking,’ with a high preference for purchasing alcohol at convenience stores. While mass-market alcohol consumption is down, there is growing interest in diverse flavors and premium options, such as fruit wines, distilled spirits, and low-alcohol or non-alcoholic products.