[Report] "The Era of Beer Returns"... 'Tojong Beer' Dominates the Expo

6th Korea Beer Expo Held at COEX
242 Companies from 10 Countries, 1210 Brands Participating
Beer Industry Trend: Chugging 'Low-Alcohol Beer'

"Each type of alcoholic beverage has its own cycle. Although it is true that the popularity of beer has somewhat declined in recent years, considering the preference for low-alcohol beverages, I believe the era of beer will return soon."

On the 11th, the 6th Korea International Beer Expo (KIBEX 2024) was held at COEX Hall C in Samseong-dong, Gangnam-gu, Seoul. The venue was bustling with visitors eager to taste a variety of domestic and international beers even during the weekday daytime. It was a moment to once again realize that beer is the representative alcoholic beverage of the liquor industry.

KIBEX is an expo where you can meet all businesses in the industry value chain in one place, from beer ingredients and brewing equipment companies to breweries, importers, wholesalers, franchises, and service, education, and media companies. This year, 242 companies from 10 countries with 1,210 brands are participating.

Interest in domestic breweries was particularly intense. Lee Hyung-jin, who visited the event, said, "Personally, beer is a foreign alcoholic beverage, but it feels so familiar that it doesn't seem like a foreign drink. I am very interested in domestic craft breweries, so I visit every year to try beers that have not been officially released before others."

Choi Deok-gyun, CEO of Jongno Brewery, which operates a brewery in Nakwon Arcade, Jongno-gu, Seoul, said, "The reason I started the brewery was to create distinctive beers that can only be tasted and experienced by visiting the area." He added, "Our goal is to make beers that represent Jongno and can only be tasted in Ikseon-dong, where we are located, rather than beers distributed in large quantities to convenience stores." He emphasized that strengthening the regionality of beer is a trend and a keyword that can help the domestic beer industry grow to the next level.

Products focusing on the localization of beer raw materials such as malt (barley malt) also caught attention. 'Gunsan Malt,' operated by Gunsan City in Jeonbuk, is the only commercial malt producer in Korea. They have established beer barley cultivation complexes with farmers in the Gunsan, Buan, Gimje, and Gochang areas, conducting everything from variety development to malt processing. Lee Sun-woo, an official from the Food Policy Division of Gunsan City, explained, "Domestic malt has a definite advantage in freshness compared to imported malt. Since malt is a key ingredient in beer, we participated in the event to promote the strengths of domestic malt."

As the largest beer expo in Korea, the event also provided insights into global beer market trends. Among the beer industry's top virtues, diversity, the standout trend was undoubtedly 'low-alcohol' beer. The preference for easy-to-drink, comfortable beverages is increasing. Along with growing health concerns, the beer industry is also expanding its non-alcoholic lineup.

An official from Interbeer Korea, which has been importing famous American craft beers like 'Stone' since 1995, said, "Beer geeks who are true beer enthusiasts still prefer beers with strong hop flavors, but general consumers increasingly tend to look for beers they can drink quickly and easily. This year, we have prepared more samples of milder products with less bitterness and cocktail/punch-type products based on tequila than before to gauge reactions."

Following the COVID-19 pandemic, interest in various types of alcoholic beverages has increased, and the domestic beer industry has shown some stagnation in recent years. According to the Korea Customs Service, beer import value, which was $280.89 million (about 308 billion KRW) in 2019, decreased to $195.10 million (about 267 billion KRW) in 2022, and import volume dropped from 360,132 tons to 228,747 tons during the same period. However, last year, both import volume (238,696 tons) and import value ($218.22 million) rebounded, increasing by 4.3% and 11.9% respectively compared to the previous year.