Browse Data and Analysis

South Korea’s whiskey imports experienced a compound annual growth rate (CAGR) of 17.1% in value from 2020 to 2024, totaling $249 million.

The Liquor Control Board of Ontario (LCBO) has announced retail price adjustments for beer, effective April 1, 2025, due to changes in the Cost of Service.

Korea’s beer imports reached $218 million in 2023, up 11.8 percent from $195 million in 2022, but still 30 percent down from the record high of $310 million in 2018. Although Korea’s beer imports have been decreasing since the pandemic, the United States increased exports of beer to Korea in 2023, reaching $17.9 million, up 43% from $12.5 million in 2022.

Korea’s wine import sector has been undergoing a stabilizing phase since the explosive growth around 2021. In 2023, wine imports reached 506 million USD, down 12.9 percent from the previous year, totaling 56.5 million kg, a decrease of 20.4 percent compared to 2022.

On July 25, 2024, the Province of British Columbia announced additional temporary supports for B.C. wineries to support production of the 2024 vintage. These supports enable all B.C. wineries to produce a 2024 vintage using imported wine grapes, juice, and unfinished wines to supplement a short domestic wine grape crop.

The Province of British Columbia announced additional temporary supports for B.C. wineries on July 25, 2024. B.C. wineries will now be able to produce B.C. wines with imported wine grapes and grape juice for vintage year 2024.

On May 24, 2024, the Ontario provincial government announced an accelerated plan to allow sales of wine, beer, cider, and ready-to-drink alcoholic beverages in grocery and convenience stores by the end of October 2024. The initial timeline provided for implementation to begin in January 2026.

The Ontario provincial government announced that sales of wine, beer, low-alcohol ready-to-drink beverages, and cider will be allowed in all groceries and convenience stores starting from January 1, 2026.

Ample opportunities exist for U.S. agricultural exports to South Korea. Highlighted in the chart above, U.S. agricultural product exports were a record $9.5 billion in 2022, up 2 percent from 2021. South Korea is the sixth largest export market for the United States, thanks in part to a successful free trade agreement (KORUS) between the two countries and a robust demand for high-quality U.S. food products.

The Republic of Korea (Korea) is a developed Asian country with a global presence in high-tech, automobile, and electronics industries. Korea is an industrial powerhouse with a skilled labor force.

Canada is the top export market for U.S. wines by value, and Ontario’s provincial liquor board is among the largest purchasers of beverage alcohol on the planet.

Quebec is the largest wine-importing province in Canada, at 180 million liters of wine valued at $770 million in 2020.