South Korea: South Korea Wine Market Report
Link to report:
Korea’s wine import sector has been undergoing a stabilizing phase since the explosive growth around 2021. In 2023, wine imports reached 506 million USD, down 12.9 percent from the previous year, totaling 56.5 million kg, a decrease of 20.4 percent compared to 2022. Despite the overall decline in imports, convenience stores have experienced double-digit growth in wine sales, largely attributed to the emergence of the consumer-friendly smart order system. As Korean customers’ taste and interest in wine evolves, imports are anticipated to rebound. In 2023, the United States maintained its position as the second largest wine supplier to Korea by value for three consecutive years.
