Trouble brews for beer, liquor makers as spending on alcohol slides 9% in Q1

Visitors enjoy fried chicken and beer at the 2025 Daegu Chimac Festival in Daegu on July 9, 2025. [NEWS1]

The phrase "one more round" is becoming less common in Korea. As younger consumers cut back on drinking and workplace gatherings become increasingly alcohol-free, household spending on alcoholic beverages has fallen at the fastest pace on record, putting pressure on liquor makers to adapt.

Average monthly household spending on alcoholic beverages fell 9 percent on year to 13,000 won ($8.50) in the first quarter of this year, according to data from the Korean Statistical Information Service (Kosis) and the household expenditure survey on Tuesday.

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It marked the sharpest decline since quarterly data collection began in 2019. Alcohol consumption has been falling for the 10th consecutive quarter since late 2023.