Last year, while the import values of major alcoholic beverages such as beer, wine, and whiskey decreased compared to the same period in 2023, only sake (日本酒·Japanese rice wine) surged due to the depreciation of the yen.
According to the Korea Customs Service's export and import trade statistics system, from January to November last year, the import value of sake was $24.26 million (about 35.7 billion won). It nearly matched the record high import value of $24.75 million recorded in 2023 by the end of November.
Sake is typically considered to have its peak season in December. During this time, the demand for warm sake increases. As gatherings multiply at the year-end, the demand for sake in restaurants, including Japanese-style pubs, also surges. The alcohol industry predicted that taking these factors into account, the import volume of sake last year would easily surpass the record set in 2023 for two consecutive years.
In terms of import weight, the growth trend is steep. The weight of sake imports has risen almost every year since the 2011 Fukushima Daiichi Nuclear Power Plant accident. Notably, it increased by more than 10% annually during the four years from 2015 to 2018.
However, since 2019, the boycott movement and the COVID-19 situation have led to a maximum reduction of 62% in import weight. During this period, many small domestic sake importers declared bankruptcy. Even in Japanese-style pubs, traditional liquors like makgeolli or domestic rice wine were sold instead of sake.
Sake began to bounce back from 2021, when the boycott movement subsided. At that time, due to the cessation of overseas travel caused by the COVID-19 pandemic, domestic Japanese cuisine omakase (chef's choice dining) was thriving.
A sales representative from a sake specialty importer said, "During the pandemic, many upscale Japanese restaurants increased in major commercial districts nationwide, and a culture of enjoying high-priced sake with good food took root," adding, "Import statistics show that previously, cheap sake in packs held a large share among imported products, but now, sake priced over 100,000 won occupies that position."
The alcohol industry predicted that the import volume of sake would continue to steadily increase this year.
Since 2018, the won-yen exchange rate, which had exceeded 1,100 won per 100 yen, recently fell to around 930 won. Last summer, it temporarily stayed in the 850 won range. Thanks to the exchange rate, the supply price decreased, leading more establishments to either reintroduce sake to their menus or expand the variety of sake they offer.
As the pandemic waned and the endemic period began, the psychological barrier to entry for domestic consumers visiting Japan decreased. According to the Japan National Tourism Organization (JNTO), the number of Koreans visiting Japan from January to November last year reached 7.95 million, surpassing the previous high of 7.53 million in 2018.
Naturally, those who experienced sake began to seek out better quality, leading to an increase in the average import value of sake. In 2023, the average import value of sake was $4,570 per ton. The average import value last year was $4,672 per ton, showing a 2% increase.
The import value of sake is still one-tenth of that of whiskey. However, the distribution industry is paying attention to the phenomenon where only sake is growing amidst a slump in other alcoholic beverage categories.
Last year, the convenience store franchise CU launched its own sake brand "Ku." GS25 expanded the number of sake products it handled from about 20 types in 2021 to over 120 types. Major alcoholic beverage retailers began to implement sake-exclusive refrigeration display systems, a sales strategy suited to the characteristics of sake, which is prone to spoilage if the temperature is inconsistent.
A representative from the alcohol industry noted, "As the reluctance towards Japan has faded to the point where travelers are queuing to visit Japan, the perception of sake has improved significantly compared to during the anti-Japanese boycott movement," adding, "The Japanese government is also actively supporting sake exports to promote rice consumption, which means there will likely be vigorous promotions for the time being."