Beer Imports from United States Hit Record High in H1
Chad Kim, Aug. 15, 2018, 8:26 a.m.
South Korea's imports of U.S. beer increased sharply on-year in the first six months of 2018, data showed Wednesday, apparently on the back of various marketing programs that came in line with the 2018 FIFA World Cup. According to data compiled by the Korea Customs Service, South Korea imported a record US$19.5 million worth of U.S. beer in the January-June period, posting more than a two-fold growth from $7.84 million a year earlier.
The latest six-month figure exceeds the $17.41 million posted for all of 2017. South Korea's imports of U.S. beer, which was around $1 million per month last year, shot up to a whopping $3 million in March, and increased to $4.8 million and $5.39 million in May and June, respectively, the data showed.
The increase apparently came as popular U.S. beer brand Budweiser rolled out various marketing programs as the official sponsor for the FIFA World Cup 2018, industry watchers said.
In the January-June period, South Korea imported $39.2 million worth of Japanese beer. U.S. stood at the second spot, up five notches from a year earlier. China and Belgium followed at $18.8 million and $14.6 million, respectively.