South Korean boost for wine importers

The emerging South Korean market could boost the fortunes of wine importers, according to research by Wine Intelligence.

The South Korea Landscapes report has found that the market contains a growing population of drinkers of imported wine who are “young and wine adventurous”.

A summary of the report read: “Of the total important wine drinking population (between the ages of 19 and 50) surveyed by Wine Intelligence, around 60% say they are drinking foreign varietals at least once a month.”

According to research consultancy, Chile and France are currently the key market players in terms of consumer awareness in South Korea, with Italy, California and Australia forming a second tier.

Purchase behaviour, found the research, is determined by consumers’ perception of wine-producing countries.

The research claims that imported wine drinkers in South Korea hold positive attitudes towards France, Australia, New Zealand, Italy and Chile, while China and South Africa carry negative connotations.

Richard Halstead, COO of Wine Intelligence, said: “With a strengthening economy, thanks in part to strong trade with China and other Asian markets, and more favourable tax status for imported wines from the EU from July 1 onwards, we predict imported wines will enjoy similar successes to Chile in South Korea.

“This is only providing however new market players are willing to study their target consumers in the thorough way that Wines of Chile did”.