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Market Chatter: South Korea's Alcohol Expenditures Drop at Faster Pace in Q1

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South Korea's alcohol expenditures fell at its sharpest pace in seven years during the first quarter of the year, according to data reported by Statistics Korea, as cited by the Yonhap News Agency on Tuesday.

The decline in consumption was attributed to a change in drinking habits, the report added.

Households' alcohol consumption came in at 13,000 won per month on average, representing a 9% year over year decline, the report said.

Meanwhile, shipments of alcoholic beverages in the country dropped by over 17% from a decade earlier to 3.15 million kiloliters in 2024, the report noted.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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