Opportunity for Australian Whiskey Exporters In Korea

February 12, 2024

South Korean whiskey producers are actively exploring new import markets, particularly in Australia. This initiative is fuelled by a rising local demand for reasonably priced whiskey products, driven by the increasing popularity of highball cocktails. Major whiskey brands from the UK, the US, and Japan are considered expensive and less accessible for local consumers.

In response, Australian whiskey has gained traction in South Korea, with its import value soaring from $4,000 in 2021 to $139,000 in 2023. BGF Retail, the operator of one of the biggest convenience stores in Korea, intends to introduce a 1L Australian whiskey product priced below $15 USD.

Although whiskey imports from major producers (UK, US, Japan, and Ireland) still hold a dominant position, there is a noticeable shift, providing Korean consumers with more diversity. This trend is anticipated to persist, offering alternatives to the traditionally dominant whiskey brands.