Korean imports of Japanese alcohol products plunge amid trade tensions

2019.09.16 14:55:33

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Korean imports of Japanese traditional alcoholic drink Sake fell to their lowest in 11 years while Japanese names were pushed out of top 10 bestsellers in the imported beer market last month amid anti-Japanese sentiment from soured ties over past and trade issues.

According to data from Korea Customs Office on Sunday, imports of Sake amounted to $428,000 in August, plunging 73 percent from $1,613,000 in June and 54 percent from $934,000 in July. The import volume was the lowest since July 2008 when it had reached $424,000.

The boycott against Japanese products has driven Sake sales to near zero since August, according to an official from a mid-sized Sake importer, who added that the company cut salaries of executives by around 30 percent and has been encouraging workers to fully take annual paid leaves.

Imports of Japanese beer reached $223,000 last month, ranking the 13th in the imported beer market. Japanese beer had stayed at the top in Korea from 2009 to June this year.

Chinese beer ascended to the top place with its import volume reaching $4.62 million thanks to steady popularity of Qingdao, Harbin and newly-released Super-X by China Resources Snow Breweries. It was followed by Dutch beer with import volume of $4.32 million, Belgium $3.77 million and America $3.47 million.

The unfazed boycott has taken a huge toll on local importers of Japanese liquor products. Importers and retailers have no choice but to sit on the stock in fear of inviting consumer backlash if they sell them at bargain prices.

By Kang In-sun and Choi Mira

[¨Ï Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]