South Korea's alcoholic beverage companies are eyeing to boost alcohol consumption at home with the COVID-19 outbreak decimating hospitality businesses across South Korea.
Restaurants and bars, usually packed with group dinner reservations as the year ends, are forced to close after 9 p.m. in Seoul and surrounding areas under strict social distancing rules.
An official at liquor manufacturer HiteJinro said that while they are not protesting the government’s policy to limit opening hours, the industry is left in poor shape and forced to focus on the home drinking market.
There are over 1,000 daily coronavirus cases in South Korea.
December and the summer months are the peak sales seasons for the industry.
With the pandemic changing people‘s drinking patterns, wine has become more popular being preferred by home drinkers.
HiteJinro registered an annual sales growth of 11.2 percent for wine on Monday.
Meanwhile, sales of imported whiskey and beer are set to shrink this year, being more reliant on bar sales.
Alcohol beverage makers are also prioritizing packaging and diversifying their range of products for those drinking at home.
Oriental Brewery will come up with a “winter special package” of its malt lager brand OB Lager, while HiteJinro’s liquor brands, Chamisul and Jinro, have also released Christmas limited editions.
The liquor companies are also releasing at-home party packs for those drinking at home.


Baidu Shares Sink to One-Year Low as Ad Weakness Overshadows AI Growth
Shein Targets $26B-$27B Valuation for Hong Kong IPO
Lockheed Martin Secures $153.5 Million in U.S. Defense Contracts
REPAY Stock Rises After Visa Platform Connect Collaboration
OpenAI Tightens AI Safety Monitoring After Security Incidents
OpenAI Revenue Rises 18% in Q2 as Losses Widen and Anthropic Surges Ahead
Goldman Sachs Names 9 Top Japanese Semiconductor and Electronics Stocks
Moody’s Affirms NVIDIA Aa1 Rating as AI Data Center Guarantees Reach $105 Billion
SK Hynix Shares Surge on Record $28.6 Billion Buyback
CK Hutchison Seeks $1.5 Billion From Panama Over Canal Ports
Toyota, Honda Shares Rise on Possible U.S.-Canada Auto Tariff Cut
Coty Revenue Beats Estimates as Beauty Demand Holds Firm
Moderna Short Sellers Hit With $4.8 Billion Loss as Stock Soars
Nordson Stock Rises as Q3 Earnings Beat Estimates, Outlook Raised
Google to Buy Spirit Airlines Business Data for $10 Million to Train AI
Standard Chartered Expands Hedge Fund Access for Wealth Clients
Google to Move All Pixel Production Out of China by 2027 



