South Korea's sluggish alcohol industry seeks to diversify products and expand overseas to overcome current situation

According to the Financial Supervisory Service of Korea, the major alcoholic beverage company Hite Jinro's sales for the April-June period fell 2.8% from the same period last year to 646.6 billion won (approximately 68.52621 billion yen), and its operating profit fell 5.5% to 644.
The sales and operating profits of the soju division in particular fell by 15%. Lotte Chilsung Beverage, a major beverage company, saw its sales and operating profits fall by 7% and 8%, respectively.
The decline in sales of "Muchorom" has hindered the growth of the alcoholic beverages division. The reason behind the poor performance of both companies is the sluggish business conditions of restaurants, which are the main sales channel for soju.
There is a boom in "healthy pleasures" (being healthy while having fun) centered around the New Generation and Generation Z (born between the 1980s and 2000s), and low-alcohol beverages are preferred.
In response to the slowdown in growth, Hite Jinro, together with the major food company Samyang Foods, created social media content featuring the instant noodle "Black Fried Noodles" with the soju "Chamisul."
Lotte Chilsung Beverage is taking advantage of the success of Sunhari in the European and US markets and is planning to strengthen its expansion into overseas markets by renewing Yeoul from 2025.
An industry insider said, "The industry is trying to overcome its slump by diversifying its product lineup and expanding overseas."