Sales from January to May this year up 82% YoY
‘Ilpum Jinro 22-Year’ to be launched this year
Leading the super-premium soju market
[Asia Economy Reporter Koo Eun-mo] Recently, distilled soju, known as the so-called ‘premium soju,’ has been gaining popularity mainly among the MZ generation (Millennials + Generation Z), and HiteJinro’s premium distilled soju, ‘Ilpum Jinro,’ is rapidly increasing its sales. Distilled soju is made by fermenting grains and single distillation, characterized by a higher alcohol content and a cleaner taste compared to diluted soju, which is made by mixing distilled spirits with water.
According to HiteJinro on the 5th, sales of Ilpum Jinro from January to May this year increased by 82% compared to the same period last year. Since the launch of ‘Ilpum Jinro 1924’ in 2018, sales have steadily increased. It grew by 27.3% in 2019 compared to the previous year, and despite the spread of COVID-19 in 2020, it increased by 12.1%. Last year, when the packaging was revamped, it recorded a growth rate of 78%. The increase in Ilpum Jinro sales has also led to continuous growth in premium liquor sales within HiteJinro, and its share of total sales is gradually increasing.
Ilpum Jinro is a product first introduced in 2018 under the name Ilpum Jinro 1924 after four years of research and development based on Jinro 1924, which was released in 2014 as a commemorative liquor for HiteJinro’s 90th anniversary. Ilpum Jinro uses only the middle distillate, which has the best aroma and flavor, discarding the initial and final distillates. It achieves a clean finish by removing off-flavors and impurities through a freezing filtration method applied to 100% pure rice distilled spirits.
HiteJinro 'Ilpum Jinro 21 Years'
They also release limited editions of super-premium products using long-aged distillates. Starting with ‘Ilpum Jinro 18 Years’ in 2018, they sold out ‘Ilpum Jinro 19 Years’ and ‘Ilpum Jinro 20 Years.’ In July last year, they introduced ‘Ilpum Jinro 21 Years,’ made with 21-year-old distillate, limited to 8,000 bottles. Through the annual release of limited edition Ilpum Jinro, they are forming a super-premium market and continuously expanding the Ilpum Jinro brand.
The reason Ilpum Jinro continues to grow despite its relatively high price is due to a shift in alcohol consumption trends that prioritize quality over quantity. HiteJinro analyzed that the tendency of the MZ generation to pursue ‘Nasimbi (Na + psychology + cost-effectiveness),’ a consumption trend that values personal satisfaction over price, is leading to demand for premium distilled soju. Preference for high-quality distilled soju is expanding rather than cheaper diluted soju, even if only one glass is consumed.
HiteJinro plans to further increase its market share with tailored strategies such as diversity and product strength that suit the tendencies of the MZ generation, who have emerged as a new consumer base in the premium liquor market. Additionally, they plan to lead the super-premium soju market this year as well by launching ‘Ilpum Jinro 22 Years.’ A HiteJinro official stated, "We will develop products that provide consumers with various drinking TPO (time, place, occasion) and lead the market."
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