E-Mart hopes to make Jeju Soju global with acquisitionE-Mart, a discount chain under the retail giant Shinsegae Group, has acquired the regional soju distiller Jeju Soju, the company said Tuesday. The acquisition comes six months after it inked a provisional contract with the Jeju Island-based liquor company.
Jeju Soju accounts for a mere 1 percent of the Korean market. Rather than compete in the domestic market against big players like Hite Jinro and Lotte Liquor, E-Mart hopes to enter foreign markets by exporting Jeju Soju products to China, Vietnam and Mongolia through its overseas stores.
E-Mart said it would invest in developing a new lineup to strengthen the brand’s competitiveness in the future. Jeju Soju currently manufactures two beverages: Sandorong, which has 18 percent alcohol content, and Gopdeulak with 20.1 percent alcohol content.