As Korea's whiskey market, which surged after COVID-19, enters a correction phase, liquor companies are expanding domestic supply and marketing centered on premium products. Overall import volumes are declining for mid- to low-priced items, but demand remains relatively solid for bottles that emphasize age statements and scarcity. In response, companies are strengthening premium lineups from 15-year expressions to well-aged and limited editions.
According to the liquor industry on the 11th, the GlenDronach, a Scottish single malt whisky, unveiled for the first time a dedicated gift set package for its 15-year expression ahead of Chuseok this year. Previously, only the 12-year product was sold in a package that included branded glasses. A Korea Brown-Forman official said, "As purchases of the GlenDronach 15-year have increased, we secured more volume for the domestic market this year and planned a Chuseok gift set package to match."
Marking the distillery's 200th anniversary this year, GlenDronach is also expanding domestic supply of premium limited editions. It brought in 3,000 bottles of the 14-year limited "Boynsmill House Edition," released to commemorate the bicentennial, for sale in Korea.
Other liquor companies are also rolling out products targeting domestic demand for premium whisky. The Macallan, a Scottish single malt whisky, released the 18-year limited "Diamonds Are Forever 55th Anniversary Release" at Lotte Department Store Jamsil in June. The price reached 1.4 million won, yet all prepared stock sold out on the launch day.
Pernod Ricard Korea also released in March a Korea-exclusive limited edition, "Ballantine's Single Malt Glenburgie 16-Year Small Batch 2." This product follows the "Glenburgie 16-Year Small Batch," first introduced domestically in 2024 and sold out immediately after release. Building on the strong sales of the first product, it is the second Korea-only edition in two years.
Behind liquor companies' push to increase domestic supply of premium whisky is a shift in the market's consumption structure. Whiskey consumption, which grew rapidly during COVID-19 amid a boom in home and solo drinking, has recently cooled, shrinking the overall market in volume terms. In contrast, demand continues steadily for relatively higher-priced bottles judged by age statements, casks, and rarity.
According to Korea Customs Service import-export statistics, Korea's whiskey import volume doubled from 15,662 tons in 2021 to a peak of 30,586 tons in 2023. It then fell for two consecutive years to 27,441 tons in 2024 and 22,582 tons last year. Meanwhile, the average import value per kilogram rose steadily from $8.49 in 2023 to $9.09 in 2024 and $10.04 last year.
From January to July this year, import volume fell 24.0% from a year earlier, but the average import value per kilogram rose 22.9% to $11.46. Compared with the same period in 2023, import volume dropped 46.3% to roughly half, while the average import value per kilogram increased 42.6%.
Sales trends by price point are also diverging across retail channels. Last year, whiskey sales in the 30,000–100,000 won range at E-MART(139480) fell 19% from the previous year. By contrast, sales of products priced at 100,000–200,000 won and over 200,000 won rose 34% and 28%, respectively.
At Lotte Mart, the share of whiskeys priced over 100,000 won in total whiskey sales rose from 42.9% in 2024 to 49.0% last year. Conversely, the share of products priced 30,000–100,000 won fell from 49.5% to 42.4% over the same period.
On GS25's liquor smart-order service "Wine25Plus," single malts accounted for 61% of whiskey sales in the first half of this year, up 15 percentage points from a year earlier. Sales of premium single malts priced over 100,000 won jumped 126%. In contrast, the sales share of blended whiskies in the 20,000–40,000 won range, mainly consumed for highballs, fell about 30%.
An official at a liquor retail company said, "Since the pandemic, the 'mixology' trend that spread around inexpensive whisky and highballs is shifting toward enjoying the flavor of whisky itself, such as single malts," adding, "With whisky information and brand stories easy to find on social media, more consumers are choosing products by considering maturation methods and the character of the spirit."