[THE INVESTOR] Shinsegae Food on Dec. 22 announced that it has opened a craft beer pub Devil’s Door on Jeju Island.
The pub spans around 498 square meters and is located in a shopping street at Jeju Shinhwa World resort.
This is Shinsegae’s fourth Devil’s Door outlet. The craft beer pub was conceived and directed by Chung Yong-jin, vice chairman of Shinsegae Group, and was first launched in November 2014 in Banpo-dong, southern Seoul. The beer pub soon became popular as ‘Chung Young-jin Pub,’ especially among people in their 20s and 30s, who like to follow trends.
Shinsegae Food has also opened Devil’s Door in Busan and Hanam. The pubs sells their own unique craft beer that represents the region.
“We will sell beer and food that represents Jeju Island to provide different taste and service to Korean and foreign tourists,” a Shinsegae Food official said in a statement.
As of October, over 600,000 liters of beer were sold in the three Devil’s Door stores. The company declined to disclose sales, but said they have increased 10 percent on average annually over the last three years.
Shinsegae has been trying to expand its presence in Korean liquor market. Besides the beer pub, Shinsegae Group’s E-mart also acquired a 100 percent stake in Korean distilled liquor producing firm Jeju Soju in December 2016. Together with a 10 billion won ($8.70 million) investment in equipment and facilities in June, the company has invested a total of 25 billion won for its soju market entry.
By Song Seung-hyun(firstname.lastname@example.org)