World Cup host offers the world its wine

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World Cup host offers the world its wine

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The richest nation on the African continent, South Africa is a strong emerging economy, with a presence of multinational conglomerates from across the globe, including Korean names like Samsung and LG.

For Korean consumers, however, one of the most recognizable South African products is its wine, which is noted for its abundant fruity flavors, thanks to the country’s exposure to sunlight and warm weather.

Korean firms imported $1.3 million worth of South African wine last year. Pinotage, a blend of Pinot Noir and Cinsault that is South Africa’s signature, has grown in popularity here.

“As South African wine becomes popular in Korea, businesses that specialize in exporting wine to Korea are expected to develop,” said Park Soo-deok, director of the African division at the Seoul Ministry of Foreign Affairs and Trade. The official World Cup wine, Nederburg Twenty10, has been released in Korea as well.

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The country’s selection as World Cup host is expected to boost trade with the developed world over the next several years, along with investment.

The Cup games themselves are expected to bring about $7.3 billion to the country, including from tourism, construction and telecommunications, according to the Korea Trade-Investment Promotion Agency in March.

The country is the center of southern Africa’s goods distribution and accounts for around 25 percent of African GDP.

Since diplomatic relations between Korea and South Africa were established in 1992, trade between the two countries has expanded exponentially. In 2009, bilateral trade totaled $2.3 billion, with Korea as South Africa’s 16th-biggest trade partner. Korea exported $1.1 billion in products and services to South Africa, mainly cars and electronics. Key exports from South Africa included jewelry, minerals and aluminum.


By Lee Sun-min [summerlee@joongang.co.kr]
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