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.

Alcohol expenditures in South Korea fell at the fastest pace in seven years in the first quarter amid declining alcohol consumption brought on by c...

Alcohol expenditures in Korea fell at the fastest pace in seven years in the first quarter amid declining alcohol consumption brought on by changing drinking habits and growing…

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…