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Import Wines Priced 80% Higher on Average in Korea than Overseas
Much Higher-priced Wines
Import Wines Priced 80% Higher on Average in Korea than Overseas
  • By lsh
  • December 15, 2017, 02:45
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The average price of imported wines in South Korea is 80% higher than the average price of the same products outside the country.
The average price of imported wines in South Korea is 80% higher than the average price of the same products outside the country.

 

The National Council of Consumer Education (NCCE) looked into the prices of 1,262 imported wines and whiskeys and announced on December 14 that the average price of imported wines in South Korea is 80% higher than the average price of the same products outside the country and the percentage is 25.5% when it comes to whiskeys.

The NCCE checked the prices from June 26 to September 30 this year at 19 department stores, 22 large discount stores and 52 sellers, which are divided into 40 in South Korea and 53 in the other countries including the United States, France, Britain and Chile. The NCCE checked 628 red wines and 215 white wines along with 419 whiskeys.

According to the NCCE, the average price of imported red wines in South Korea is 46,197 won (US$41.5) whereas the average import price of the same products is no more than 7,603 won (US$6.8). The price differences are 30,822 won (US$27.7) vs. 6,979 won (US$6.2) and 121,989 won (US$109.7) vs. 17,854 won (US$16.0) when it comes to imported white wines and whiskeys, respectively.

In the case of 36 red wines available both at home and abroad, the difference is 44,117 won (US$39.7) vs. 24,541 won (US$22.0). One of the products is 4.7 times more expensive in South Korea. 12 out of 14 white wines are more expensive in South Korea and one of them is 3.9 times more expensive in the country.

The average prices of 38 whiskeys are 140,670 won (US$126.6) in South Korea and 112,058 won (US$100.8)in the other regions. 30 out of 38 are more expensive in South Korea and one of them is 2.2 times more expensive.