Samsung, SK Hynix to Unveil $1.3 Trillion AI and Semiconductor Investment Plan 
China Manufacturing PMI Edges Higher in June as Exports and AI Investment Boost Growth 
U.S. Stocks End Q2 Higher as Strong Jobs Data and AI Rally Lift Wall Street 
Open-Source AI Models Gain Ground as Enterprises Seek Lower-Cost Alternatives, Citi Says 
South32 Sells Major Aluminium Assets to Alcoa in Deal Worth Up to $5.6 Billion 
Yen Falls to 40-Year Low as Markets Watch Japan Intervention and U.S. Jobs Report 
US Stock Futures Rise as US-Iran Ceasefire Hopes Boost Market Sentiment 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Global Financial Firms Shift Asia Expansion Focus to South Korea as China, India Face Caution 
TSMC CoWoS Capacity Forecast Raised as Mizuho Sees AI Server CPU Demand Surging Through 2027 
RBA Minutes Signal Australia Central Bank Remains Ready to Raise Interest Rates if Inflation Persists 
Central Banks Eye Gold, Reduce Dollar Exposure as AI Adoption Accelerates: OMFIF Survey 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Trump Urges Gasoline Retailers to Cut Prices to $2.50 Per Gallon, Warns of Legal Action 
Nvidia Stock Rises as SemiAnalysis Sees AI Data Center Revenue Beating Wall Street Forecasts 
Kakaku.com Shares Rise as Bain Capital and LY Corp Prepare Higher Takeover Bid Than EQT 
Morgan Stanley Names BAE Systems Top European Defence Stock Despite Lower Price Target 
Hite Jinro Co., the leading soju brand and liquor company in South Korea, expanded overseas, and its popularity is growing steadily. The brand is becoming more well-known due to the unstoppable spread of K-pop all over the world.
In fact, on Tuesday, Aug. 22, Hite Jinro said that its sales of soju in the United Kingdom are still increasing. The company said that the sales in the region are showing consistent growth every year. With this development, the soju maker wants to further broaden its reach in the European market.
As per The Korea Economic Daily, Hite Jinro is planning to promote Korean soju further in the European market. The company will start this promotion in the U.K. and then gradually spread into other territories.
The firm shared that its exports of soju in the U.K. reached an average annual growth rate of around 42% in the last four years. To be more specific, the export volume in the first half of this year alone increased by 43% compared to the volume within the same period in 2022. This shows that sales have grown by 63% since 2021.
"The European market, which used to be centered around Korean expats and travelers, is experiencing rapid growth in soju sales as it expands toward local consumers," Hite Jinro’s managing director of overseas business unit, Hwang Jung Ho, said in a statement. "We plan to broaden the opportunities for experiencing soju in Europe, particularly in the U.K., and carry out various marketing activities."
Meanwhile, Korea IT Times reported that Hite Jinro officially sponsors large-scale music festivals in the U.K. It will support the “ALL POINT EAST FESTIVAL (APEF)” held at Victoria Park, London, from Aug. 18 to 27. The soju maker will be sponsoring the event for the entire duration of 10 days.
Photo by: Samia Liamani/Unsplash
