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May 30, 2022 View:

Korean wine imports to hit record high in 2020 due to New Crown outbreak

Data shows that wine imports into Korea reached an all-time high in 2020 as more and more people enjoy drinking at home and alone due to the coronavirus outbreak.

Image courtesy of: wineinfo.com

Asia"s fourth-largest economy imported 54,127 tons of wine last year, up 24.4 percent from a year earlier, according to the Korea Customs Service and industry sources.

The value of imported wine also rose 27.3 percent from a year ago to $330 million.

Industry observers attribute last year's spike to coronavirus-induced social distancing measures that have led to fewer company dinners and prompted more people to enjoy drinking at home and alone.

Chile had the largest wine exports to South Korea with 14,703 tons, accounting for 27.2 percent of the total, followed by Spain with 10,200 tons, Italy with 7,453 tons, France with 7,057 tons and the United States with 5,503 tons.

France was the leading exporter by value, with exports of $93.48 million, or 28.3 percent of the total, as its wines are priced much higher than other imports, the data show, followed by Chile with $58.55 million, followed by the United States ($56.03 million) and Italy ($48.73 million).