South Korea - Beer Market Report 2021

Country:
Korea, Republic of

Report Highlights:
U.S. beer exports to South Korea totaled $35 million in 2020, up 3 percent from the previous year. Overall Korean beer imports, in contrast, declined 19 percent to $227 million due to weak on-premise sales during the COVID-19 pandemic. The Korean government adopted a volume-based liquor tax for beer on January 1, 2020, which reduces the tax burden for higher quality beers, including imported U.S. craft beer. The tax change along with increased Korean consumer demand for quality and diversity should generate growth opportunities for U.S. beer exports to Korea in coming years.

AttachmentSize
Beer Market Report_Seoul ATO_Korea - Republic of_03-01-2021.pdf544.79 KB