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The Korea Herald
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THE INVESTOR
March 29, 2024

Retail & Consumer

Gov’t hopes for ‘better local beer’ with deregulation

  • PUBLISHED :January 24, 2017 - 17:55
  • UPDATED :January 24, 2017 - 17:55
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[THE INVESTOR] The South Korean government will draw up plans for improving the country’s alcoholic beverages industry, including measures for brewing “local beer of higher quality.”

According to the local online paper Chosun Biz, the government plans to draw up plans for improving the market conditions by June.

The plans will include “measures for enabling consumers to taste locally brewed beers of higher quality,” the report said quoting an unnamed government official.

The official was also quoted as saying that the details have not been finalized yet, and a taskforce with representatives from concerned government organizations will meet at least once a month from February.

The local beer market has grown over the years to account for nearly half of all alcoholic beverages. However, the offerings from local companies have been criticized by some consumers as being bland at best.

While a range of possible causes ranging from ingredients to the oligopoly of large breweries have been blamed for the assessment, the government has honed in on regulations concerning pricing and taxation as the key elements.

According to the Fair Trade Commission’s assessment, pricing regulations limit product development and market competition.

By Choi He-suk (cheesuk@heraldcorp.com)

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