According to a recent Korea Joongang Daily article, “Starting this year, conglomerates can produce and export makgeolli (Korean rice wine) if it is produced jointly with small and midsize businesses.
Korean National Commission for Corporate Partnership on Tuesday decided to lift the ban for three years to try to revitalize sagging consumer goods businesses.”
The report has some fairly grim statistics on the makgeolli exports business (or lackthereof). In 2011, exports were at $52.7 million USD but, by 2014, that figure had shrunk to $15.4 million.
The conglomerates in question—Kooksoondang Brewery, Lotte Chilsung, Hite Jinro, and CJ Cheil Jedang—will now have the opportunity to partner with brewers who are members of the Korean Unrefined Rice Wine and Traditional Liquor Production Association and the Korean Makgeolli Association.
To read Kim Ji-Yoon’s full article on the Korea Joongang Daily website, follow the link.