$6.63 Million Import Revenue in Q1
Largest Since 2019 Boycott
Increased Promotions and New Product Launches
Import Scale Expected to Grow Further
In the first quarter of this year, South Korea's import value of Japanese beer exceeded 6.6 million dollars, marking the highest level since Japan's semiconductor material export restrictions in 2019.
According to customs trade statistics on the 7th, the import value of Japanese beer in the first quarter of this year was 6.626 million dollars, an increase of 148.4% compared to the same period last year. This is the largest amount since the second quarter of 2019 (19.01 million dollars), just before Japan's export restrictions were implemented. It also rose to 42.0% compared to the first quarter of 2019 (15.785 million dollars).
On a monthly basis, it reached nearly 60%. The import value in March this year was 2.938 million dollars, recording 58.6% of March 2019's 5.017 million dollars. With the resumption of promotional activities and an increase in new product launches, the scale of Japanese beer imports is expected to grow further. Recently, 'Asahi Super Dry Draft Beer,' which can be opened and consumed with the cap on, has experienced shortages in some convenience stores. Some large supermarkets are conducting promotional events selling four cans of Japanese beer for 9,900 won.
Meanwhile, South Korea's beer export value to Japan in the first quarter of this year was 3.279 million dollars, a 50.4% increase compared to the same period last year. This amount is 9.1 times higher than the first quarter of 2019 (360,000 dollars). Accordingly, the beer trade balance in the first quarter of this year recorded a deficit of 3.348 million dollars. For soju, the export value to Japan was more than 20 times the import value. The first quarter soju export value was 6.994 million dollars, a 3.6% decrease from the same period last year, while Japanese soju import value increased by 20.3% to 332,000 dollars.
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