1. Korean Wine Market

2. Korea’s Drinking Culture
1. It’s always been important.
People would drink alcohol during rituals as a way to show respect to their elders and ancestors.
2. RESPECT
Being invited to drink with your superiors is one of the biggest compliments a Korean worker can receive.
3. Comradery
There’s a lot of hierarchy in Korea, especially in the workplace. So Koreans look at drinking as a chance to bond with their peers in a way they can’t at work.

3. Early stage of development
Korean Wine Market
Early stage of development
Over the last 10 years South Korea’s wine market has gone up 400%.
71% of the wine exported to Korea is Red wine.
Wine accounts for less than 1% of all alcoholic beverages consumed.
Source:
Source:

4. Early stage of development
Korean Wine Market
Early stage of development
France has a 30% market share, roughly $60,000,000.
Chile has a 22% market share, roughly $44,000,000.
Italy has a 16% market share, roughly $32,000,000.
America has a 11% market share, roughly $22,000,000.
Source:

5. Comparable Markets: Japan
Japanese wine market capitalization is $1.47 Billion, 700% more than the value of Korea’s.
America holds a 7.7% market share, roughly $128,590,000.
Wine accounts for about 3.5% of alcoholic beverages consumed.
Source:
Source:

6. Comparable Markets: China
China is now the largest red wine market worldwide.
Chinese wine drinkers drank Billion bottles of red wine in 2013.
An increase of 136% over the last 5 years!
American wine producers currently have about a 4% market share of the import market, roughly $80,000,000 annually.
Wine still only accounts for 3.6% of alcohol consumed.
Source:
Source:

7. Expectations of the Korean Wine Market
By 2017 Korea is expected to import 48 million bottles of wine.
Imports of red wine alone are estimated to be $494 million by
If the American market share flat lined at 11%, it would still be valued at $54,000,000.
A 145% increase!
Source: