SEOUL, KOREA - Competition for a No. 2 spot is heating up in the Korean soju market as Muhak is threatening the position of Lotte Chilsung Beverage Co.'s "Cheoum Cheoreom" brand.
According to data on the trend of soju shipments for February 2013 released by the Korea Alcohol Liquor Industry Association, Muhak grabbed a share of 13.5 percent, ranking No. 2 behind market leader Hite-Jinro (49.4%). This was the first time for Muhak to overtake Lotte since August 2012. Lotte slipped to the No. 3 spot with a share of 12.5 percent.
Muhak attributed its rise in ranks to the rise of the low-alcohol market. Korea's low-alcohol market has been growing at a robust pace, expanding by 36 percent in 2012.
Muhak's flagship low-alcohol brand "Joeun Day" was sold 10.27 million boxes last year, dominating the domestic low-alcohol market with a market share of about 90 percent.
A Muhak official said, "The increase in shipments is attributable to the increase in demand for low-alcohol soju centering on young and female drinkers. Another factor is that we staged aggressive marketing to increase our share in Busan and surrounding areas."