E-Malt.com News article: South Korea: Hite Brewery Co. and Jinro Co.’s merger will bring the liquor monopoly

South Korea's biggest beer producer Hite Brewery Co.'s planned merger with Jinro Co., a top soju maker, will bring about a monopoly in the liquor industry, according to the majority of South Korean marketing professors.

The survey conducted by Dongseo Research revealed that 52.4 % of merchandising and marketing professors believe that a monopoly in the liquor market will be formed following the merger of Hite and Jinro, Yonhap news agency commented.

A consortium led by Hite signed a formal agreement early this month to acquire Jinro, the nation's top distiller, which has been in court receivership since May 2003, for 3.41 trillion won (US$3.36 billion) from its creditors.

The survey of 63 professors who teach merchandising at four-year colleges was conducted two weeks ago at the request of a promotion agency responsible for the public relations of four regional soju makers. While the survey originally targeted answers from 389 professors, only 63 of them responded, the promotion agency said.


23 June, 2005