If the god of wine exists, he must have moved to Korea. If he hasn't, he's probably smiling at a country whose market for imported wine jumped more than 20 percent in the first half of this year. That marks the third consecutive year of double-digit growth. So just what is driving the insatiable appetite for wine? The marketing director of major wine importer Samkoo says a lot of it has to do with improved living standards and tastes as the economy has grown into the world's 10th largest in just a few decades. More growth in wine sales is expected over the next decade.

"In terms of the whole industry, we expect over 20 percent annual sales growth over the next 10 years. Total annual sales 10 years from now is expected to stand at around 1 billion U.S. dollars,” he says. For importers like Samkoo, superstores and major conglomerates are the main customers. Business groups buy vast quantities of wine as gifts to clients.

In the first half alone, wine imports reached almost US$40 million, up 22 percent from the same period last year, according to the Korea International Trade Association. Wine imports are expected to reach $80 million this year, and should break $100 million in 2007. With more than 200 importers of different sizes operating in Korea, competition is stiff. But at the posh wine bars that have recently mushroomed in trendy sections of the capital, the ambience is anything but stiff. Once considered an esoteric hobby, interest in wine is increasing. Beer, whiskey and the traditional Korean liquor soju are still king when it comes to sales. But wine is catching up very quickly.

Arirang News