Greek Wine Exports to Seoul Increase by 407%

wine

Greek wine exports to South Korea have increased by 407 percent in the first four months of 2016, according to the Greek office of the Economic and Commercial  Affairs in Seoul. The document states that the Korean wine market is valued at 200 million euros, however, wine makes up just 1.8 percent of the spirits and alcohol market. There is a growing trend of wine consumption among young people, resulting in the rapid growth of the market.

In 2013, the Greek export market was at $5,000 and there were no Greek wines on the market, however, Greek wine exports increased to $68,000 in 2015. Greek wine promotion and exports increased in the first four months of 2016, reaching $47,000 — noting a growth of 407 percent. It is noteworthy that there are 15 Greek businesses operating in the market.

There are 15 active import licenses in Korea with 50 of the largest controlling the market. Greek wines are sold by two small companies that do not import wines from other countries.

In the framework of activities for the promotion of Greek wines there were events held from June 15-17 on in Seoul and Pocheon with the participation of select importers, distributors, sommelier, chains, while — in the framework of Greek wine promotion in Korea — there was also participation in the Seoul International Wines and Spirits Expo.