Soju being slurped down in China

Chamjinisulro, the most popular soju in Korea, is enjoying increased sales in China and Southeast Asia, according to data from Jinro, the manufacturer of the alcohol product.
Sales in Vietnam and Taiwan doubled in 2006 compared to the previous year.
In 2006 Jinro sold 213,494 boxes, worth $2.9 million, of soju in China last year, an increase of 27.7 percent over 2005.
That growth in China comes on the heels of a 79.4 percent increase in 2005 compared to 2004.
The company claimed that it has 77 percent of the Korean soju sales in China.
Soju consumption in Southeast Asian countries is also increasing. Jinro’s Chamjinisulro sales rose 29 percent in Indonesia and 107.5 percent in Vietnam.
A Jinro employee said that Jinro is gaining popularity among the local young generation with the hallyu, or the Korean Wave, having a significant impact.
Kim Kyeong-bok, assistant manager at Jinro, said most of the consumption is by overseas Koreans.
“But in China, Jinro is definitely getting more attention from the locals,” said Mr. Kim.
“Sales to China and other Asian countries started to increase rapidly after Goldman Sachs [which owned Jinro indirectly] sold the company to Hite [a leading beer company],” said Lee Un-taek at Daehan Investment Management Company Co.
“Goldman wanted to profit by selling the company, while Hite is trying to sell more product,” said an analyst.

By Hwang Young-jin Staff Writer [yhwang@joongang.co.kr]