[K-FOOD] The world sold 70 million dollars to Hite Jinro for soju.

 The world sold 70 million dollars to Hite Jinro for soju.

Hite Jinro’s “Soju” is opening the era of “K liquor”. Although mainly in China and Southeast Asia for fruit soju, which is a specialized product, overseas sales have increased every year for the past six years, and general soju exports are expected in the future.

Soju exports increased every year for 6 years

On the 29th, Hite Jinro announced that last year's soju exports amounted to 70 million dollars, a 71.6% increase from 2015 (4082 million dollars).

Hite Jinro, which declared “globalization of soju” in 2016, expanded its exports to the US, Canada, and China, starting with Japan. Hite Jinro is promoting its flagship product, Chamisul, and fruit soju as an export strategy product.

Currently, we are exporting fruit soju to more than 50 countries, and we are diversifying our portfolio by launching Grapefruit Acele and Green Grape Dew in 2016, Plum Acele in 2018, and Strawberry Acele in 2019.

Fruit shochu popular in Southeast Asia

Hite Jinro took a drive to target the mainstream home market in Southeast Asia with fruit soju. Vietnam, the Philippines, Thailand, and Cambodia are strategic countries for globalization in Suzhou.

 

Hite Jinro is selling soju products such as Chamisul and Cheongpodo Aseul through the domestic distribution channels of Southeast Asia. In February of last year, Strawberry Acele was launched in a total of 4,600 7-Eleven branches in the Philippines, Thailand and Singapore to target the home market. During the month of June, when the COVID-19 containment measures were eased, fruit soju sold across the Philippines exploded to about 508% compared to last year's average monthly sales. Localization is accelerating from 30% to 50% of local drinking.

Singapore is also on a steady rise amid intensifying competition in the spirits market. Hite Jinro, which ranked third in the global spirits market in Singapore, has risen to second place in a year. Last year's sales grew 109% over the previous year. It is a strategy to achieve the No. 1 goal within two years through aggressive public relations activities.

China's sales increased about twice as compared to the previous year. Hite Jinro Chamisul and Fruit Soju are sold at 33,000 mart convenience stores in China. Last year, sales amounted to 25 million bottles. Hite Jinro's sales of fruit soju in China grew at an annual average of 98.6% over the four years from 2016 to 2019. The share of sales increased from 6% in 2016 to 36% last year. The differentiation of a product called “fruity and delicious liquor” that meets the needs of consumers in the 20s and 30s was the main effect.

An official from Hite Jinro said, "Overseas exports of Hite Jinro's fruit soju series are increasing every year." "The fruit soju is actively targeting the local market and connecting this can lead to sales of regular soju products such as Chamisul Fresh and Chamisul Original. "We plan to carry out various promotions and special products so that we can do it."