South Korea's import of whiskies has shown variability over the past decade, with noticeable fluctuations. The import volume stood at 20.162 million kilograms in 2023. Significant year-on-year changes include a substantial drop in 2020 (-16.97%) followed by significant recovery in 2021 (20.53%). The last two years have seen minimal growth, with only a 0.035% increase each year, while the 5-year CAGR stands at 0.2%. Looking forward, the forecast projects a steady increase, with a forecast 5-year CAGR of 0.03% and a growth rate of 0.15% by 2028.
Factors to watch include changing consumer preferences, the impact of economic conditions, and potential trade policy changes which could influence both demand and supply dynamics of whisky imports to South Korea.