U.S. Wine to Overtake Italian Wine in Korea
U.S. Wine to Overtake Italian Wine in Korea
Feb 28, 2012 6
(Chosun) - American wine is likely to overtake Italian wine in the market here as the Korea-U.S. free-trade agreement goes into effect. Lotte Department Store on Tuesday said U.S. wine, now in fourth place, will overtake Italian wine for the first time.
Lotte came to the conclusion after a meeting between its chief merchandise director and major wine importers. French wine, which has been traditionally strong, affordable Chilean wine, and Italian wine, which is favored by some oenophiles, accounted for over 90 percent of Lotte's total wine sales, with American wine enjoying little recognition.
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