[Senior Trend] Is Alcohol a Health Tonic? The Root of All Diseases?... The Rise of Sake Tech

Alcohol is a fascinating substance. Its dictionary definition refers to beverages containing ethanol that cause intoxication when consumed. Some consider it the best among all medicines, while others see it as evil because it causes addiction and reckless behavior. Just listening to songs related to alcohol reveals a wide range of perspectives. In Kim Dong-ryul’s song “Drunken Truth,” alcohol is the medicine needed to gain courage to confess to a loved one, while the mixed-gender group Marronnier’s third album features “Cocktail Love,” which suggests alcohol helps with mood changes. Trot singer Park Hyun-bin passionately pleads for a lover to return in “Gondre Mandre,” and Vibe’s “It’s Alcohol” expresses the pain of drinking daily due to the sorrow of a breakup. In the stock market, “sin stocks” include alcohol, tobacco, and gambling, and funds like the National Pension Service face calls to reduce investments that negatively impact society. Among seniors who need to take care of their health, there is also debate, with some saying alcohol adversely affects dementia.

Historically, alcohol has been considered medicine across East and West. The Donguibogam describes alcohol as the “best of all medicines.” In old palaces, the department managing soju was not the kitchen but the royal medical office, because alcohol served as an anesthetic, disinfectant, and depending on the type, helped blood circulation or had pharmacological effects. In traditional Korean culture, many alcoholic beverages were homebrewed medicinal liquors, made by adding medicinal herbs at home. Their effects acted on both body and mind. In the UK, whiskey licenses were initially granted to doctors, and whiskey was even used as a treatment during the Black Death. Germany’s J?germeister, popular among young people for parties, was developed with 56 herbs and spices and is consumed after meals to suppress asthma, digestive disorders, and coughs. Gin, a distilled spirit made with juniper berries to aid diuresis, was developed as a medicine and evolved into the cocktail known as the “gin and tonic.”

The reason for highlighting the positive origins of alcohol is the recent trend of “Jutech” (alcohol investment). Alcohol has emerged as a luxury investment boasting high returns, alongside luxury handbags, wedding watches, and expensive paintings. Recently, a whiskey aged for 60 years in oak barrels sold for about 2.3 billion KRW at a Sotheby’s auction in the UK, making headlines. This is because the same brand sold for about 70 million KRW at a Christie’s auction in the US in 2009, meaning its price increased dozens of times in just over ten years. French wine “Roman?e-Conti” also sells for nearly 100 million KRW per bottle depending on the vintage, after receiving purchase intentions and screening.

In the West, parents collect well-known, high-proof whiskey or fine vintage wines as birthday gifts for their children from a young age to prepare for education expenses. Several years ago, China joined this trend. Maotai, known as a famous liquor in Korea as “goryangju,” is expensive itself, but enthusiasts buy it by the box because aging deepens its aroma and taste. Some gift it, some drink it themselves, and some store it to pass on to their children. Although China’s stock market has recently been sluggish, famous goryangju companies have shown remarkable performance in the stock market over a long period. Before and after COVID-19, as Japanese whiskey gained popularity, investors viewed alcohol positively to the extent of acquiring local distilleries.

In Korea, people in their 40s are buying limited-edition alcohol in Japan. The favorable exchange rate means Korean customers frequently visit local liquor wholesalers. In the mid-2000s, many wine auctions, funds, and cultural classes teaching wine history and tasting methods were held. Fifty-somethings who worked as expatriates in Europe or the US at that time unexpectedly earned seed money as the prices of wines they had purchased rose significantly. Trends related to alcohol usually move quickly. After a period of Makgeolli fever, craft beer, and highball, whiskey is now the trend. Sales at domestic duty-free shops and large supermarkets have surged 4 to 5 times compared to last year. Recently, five bottles of a specific brand’s 30-year-old whiskey were released at a department store in Gangnam, causing an “open run.” Whiskey bars have opened near universities, and various elite courses and overseas cruise trips targeting seniors include visits to distilleries and whiskey tastings with famous intellectuals.

What will happen to alcohol investment, which disappears once you drink it on a whim? Interestingly, even empty bottles of expensive alcohol are traded. They are sold as decorations in the secondhand market. Prices vary widely from as low as 1,000 KRW to over 1 million KRW depending on whether the original box is included and the cleanliness of the bottle. In 2022, Korea’s liquor market reached a large scale of 10 trillion KRW. Under the trend of “quality over quantity,” interest in expensive alcohol is high across generations. According to a 2021 survey, more than one-third of people in their 50s and 60s said they had become more interested in well-made alcohol and its quality. “Alcohol as an asset,” whose value matures with the years it is held, is emerging. One thing to note is that in Korea, a liquor license is required to resell alcohol, so transactions can be problematic.

This article shared new ways to enjoy alcohol. The author, whose drinking capacity is no longer what it used to be, soothes their feelings with senior trend readers through the method of Jutech.

Lee Boram, CEO of Third Age