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Record Tax Revenue from Semiconductors Fuels 800 Trillion Won Budget for 2027 The semiconductor supercycle is expected to boost the national treasury to unprecedented levels next year. The government plans to draft a 'super budget' exceeding 800 trillion won, based on tax revenue surpassing 500 trillion won. However, concerns are rising that relying on increased tax revenue from semiconductor companies could lead to a fiscal cliff if rigid expenditures are also expanded.According to relevant departments on July 27, next year's national tax revenue is projected to exceed the previous estimate of 412 trillion won, reaching 500 trillion won plus. Total expenditures are set to exceed 800 trillion won, marking an increase of over 10% from this year's main budget. This will be the first time since the global financial crisis in 2009 that the government's expenditure growth rate surpasses 10%.Park Hong-keun, Minister of the Office for Government Policy Coordination, stated on KBS's Sunday Diagnosis on July 26, "The national tax revenue for 2027 is expected to exceed the initial forecast of 412 trillion won, reaching 500 trillion won plus, marking the highest tax revenue ever anticipated."If the government's plans materialize, the semiconductor boom will drive both revenue expansion and increased fiscal spending. However, there are concerns about whether this record tax revenue is a structural increase due to economic recovery or a temporary boom driven by profits in specific sectors.Notably, improvements in the performance of major semiconductor companies typically reflect in corporate tax revenue the following year. Since this year's corporate tax revenue is influenced by last year's corporate performance, a downturn in the industry could lead to a significant drop in tax revenue, albeit with a lag.Previously, the National Assembly Budget Office analyzed that corporate tax revenue can fluctuate by around 20% due to changes in economic structure and industrial environment. The operating profits of export-oriented large companies, such as those in the semiconductor sector, vary significantly with industry cycles, but existing tax revenue forecasting models have not adequately captured this, leading to increased errors in corporate tax estimates.Recent revenue forecasts have swung dramatically between boom and bust. Unexpected large surpluses occurred in 2021 and 2022, but in 2023, the direction shifted sharply to a revenue shortfall. Repeated discrepancies in tax revenue can undermine the credibility of fiscal policy and exacerbate issues during the budget execution process.The challenge lies in the fact that shifting expenditure is much more difficult than adjusting revenue. Rigid expenditures, such as welfare, personnel costs, pensions, and local grants, are hard to reduce once increased, even during economic downturns. If permanent expenditures are expanded based on temporary tax revenue from the semiconductor boom, the government may need to increase bond issuance or drastically cut other projects once entering a downcycle.This is why the government is pursuing a 50 trillion won expenditure restructuring while preparing an 800 trillion won budget. The plan is to reduce discretionary spending by 15%, mandatory spending by 10%, and the total number of projects by 10%, reallocating the resources to key areas.However, if new welfare and subsidy programs are established while restructuring existing projects, the effects of the restructuring could be negated. Critics argue that rather than merely increasing expenditures during the semiconductor boom, it is crucial to distinguish between structural and temporary components of the revenue increase to establish sound resource allocation principles.The government’s future response fund, created from additional tax revenue, is seen as a mechanism to mitigate these risks. The plan is to invest in strategic industries like AI and semiconductors over multiple years without exhausting resources in a single year, while also utilizing this fund as fiscal capacity in the event of future revenue shortfalls or emergency supplementary budgets.The success of next year's super budget, which exceeds 800 trillion won, will depend more on the sustainability of the resources than on the size of the expenditures. Whether the tax revenue generated by semiconductors will be used for temporary investments that enhance growth potential or solidified into irreversible fixed expenditures will determine if this revenue boom becomes a seed capital for the future or a financial burden during the next downturn.* This article has been translated by AI. 2026-07-27 18:32:00 -
Next Year's Budget Proposal Includes 100 Trillion Won Future Response Fund The budget proposal for next year is expected to include a 'Future Response Fund' aimed at investing additional tax revenue anticipated from the semiconductor boom into future growth drivers. However, addressing potential overlaps with existing policy funds and securing resources amid tax revenue volatility are challenges that need to be resolved.According to relevant government departments on the 27th, the government plans to establish the Future Response Fund using additional tax revenue expected from the semiconductor boom to invest in youth, growth drivers, local areas, and talent.The fund will prioritize financial allocations for three mega projects: semiconductors, artificial intelligence (AI) data centers, and physical AI. Considering the scale of additional tax revenue, the fund is projected to be around 100 trillion won. The Ministry of Economy and Finance stated that the specific size, accumulation method, and investment targets have not yet been finalized.Hong Geun Park, Minister of Economy and Finance, appeared on KBS's 'Sunday Diagnosis' on the 26th and said, "The Future Response Fund is based on the idea of using productive spending to open up South Korea's future growth potential. It will serve as a strategic investment to expand growth potential while also acting as a fiscal stabilization mechanism."He added, "This is to ensure that we can utilize surplus resources even in situations where there are revenue shortfalls or when a supplementary budget is needed. The intention is to use the additional tax revenue to establish a long-term growth foundation rather than spending it all in a single year."The government plans to use the Future Response Fund to transform additional tax revenue, which would typically be exhausted in a single-year budget, into long-term investment resources. Specifically, it aims to prioritize financial allocations for region-led projects, local talent development, and youth asset formation and capacity-building initiatives, thereby promoting both regional balanced development and securing future growth drivers.Given that advanced industries like semiconductors and AI require substantial initial investments, securing stable funding is crucial, and the Future Response Fund is seen as a potential foundation for medium- to long-term investments. Analysts suggest that by accumulating resources during economic booms and utilizing them during downturns or when large-scale investments are needed, the stability of fiscal operations can be enhanced.However, concerns have been raised about potential overlaps with existing funds such as the Advanced Strategic Industry Fund, the Fund of Funds, the Regional Decline Response Fund, and the University Innovation Support Project. Notably, semiconductors and AI are already prioritized for investment in the main budget. The National Growth Fund, which aims to raise 150 trillion won over five years, is also primarily focused on investments in semiconductors and AI.Another challenge is the stability of tax revenue. South Korea's tax revenue is significantly influenced by the performance of large corporations, including those in the semiconductor industry, and real estate transactions, leading to considerable year-to-year volatility. In fact, in recent years, instances of large surplus tax revenues have often been followed by tax shortfalls. In such a structure, even if the fund is sufficiently accumulated during economic booms, investment resources can quickly diminish during economic downturns or when the semiconductor market weakens.The management of the fund is also identified as a future challenge. There is a need for criteria on how much of the additional tax revenue should be allocated to the fund, and whether to prioritize growth investments or fiscal stabilization during economic downturns. Without clearly defining the fund's duration, sunset provisions, performance indicators for individual projects, the effects of private investment inducement, and criteria for eliminating underperforming projects, there are concerns that the scale of fiscal projects may only expand without achieving meaningful outcomes.Woo Seok-jin, a professor of economics at Myongji University, stated, "While there may be overlapping areas, the Future Response Fund is likely to be utilized for long-term foundational development, and efforts will be made to streamline overlaps with existing budget projects. It is advisable to separate one-year projects into the general budget and long-term projects into the fund."He added, "Since the Future Response Fund utilizes temporary surplus tax revenue, it is also necessary to perform a fiscal stabilization function when tax revenues decline due to economic downturns. For the fund to be operated stably, it is important to clarify investment principles and usage criteria." 2026-07-27 18:32:00
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Government Plans $50 Billion Spending Restructuring for 2027 Budget The government is set to implement a $50 billion spending restructuring for next year. This follows a $27 billion restructuring last year, with the aim of reallocating the funds to artificial intelligence (AI), future industries, and public welfare.However, the inclusion of mandatory expenditures, such as pensions, welfare, and local government grants, which are legally mandated, raises questions about the feasibility of actual cuts. Without legislative amendments, significant reductions are unlikely, making the success of this restructuring dependent on the legislative process rather than just budget formulation.According to the Ministry of Strategy and Finance on July 27, the ministry has requested that each department prepare plans to reduce discretionary spending by about 15% and mandatory spending by about 10% during the budget request process. Approximately 10% of all projects are to be reviewed for elimination or improvement, and temporary or sunset projects are to be terminated as a rule. Similar and redundant projects are also targets for consolidation.The government aims to secure around $50 billion through this restructuring, nearly doubling last year's restructuring amount of $27 billion.Hong Kyung-min, Minister of Strategy and Finance, stated at an open forum on spending restructuring last month, "This is the year to undertake painful restructuring. Reducing existing budgets is a very challenging task, but the Ministry of Strategy and Finance will take the lead to ensure it is accomplished." He emphasized the goal of achieving a 15% reduction in discretionary spending, a 10% reduction in mandatory spending, and the elimination of 10% of projects through a comprehensive review of all financial projects.Unlike discretionary spending, mandatory spending is difficult to reduce solely through budget proposals. This is because payments for the National Pension, basic pensions, various welfare benefits, local government grants, and local education financial grants are all legally mandated. Even if the government sets reduction targets, actual cuts are challenging without amendments to the relevant laws.The interests involved are complex. Since welfare beneficiaries, local governments, and related industries will be affected, significant challenges are expected during the National Assembly's discussions. Items directly related to local finances, such as local government grants and education grants, are particularly sensitive topics for reform discussions. The Ministry of Strategy and Finance has been coordinating with the Ministry of Education regarding education grants but has yet to reach a conclusion.There are also concerns that 'accounting adjustments' may occur during the budget formulation process to meet restructuring targets. This could involve delaying project execution or increasing local financial burdens rather than actually eliminating projects. Another common method mentioned is reducing existing projects only to rename them as new projects or shifting general account projects to fund, loan, or investment projects.The government plans to focus the funds secured through this restructuring on enhancing growth drivers and stabilizing public welfare. Once the budget proposal is submitted to the National Assembly, details of the restructuring by department will also be disclosed. It is expected that the budget review process will reveal how many projects were actually eliminated or consolidated, as opposed to merely shifting accounting or delaying execution.* This article has been translated by AI. 2026-07-27 18:32:00
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Stock Prices Drop 30%, Yet Target Prices Remain Doubled Stock prices have fallen more than 30% in the past month, but analysts' target prices remain unchanged. Major stocks, including Samsung Electronics and SK Hynix, show a significant gap between current prices and target prices, which are more than double the current levels.According to financial information provider FnGuide on July 27, a comparison of stock prices and target prices for the top 10 market capitalization companies over the past month (from June 24 to July 24) revealed that Samsung Electronics' average target price over the last three months is 513,958 won, which is 106.0% higher than its current stock price. Similarly, SK Hynix's average target price is 3,626,087 won, also 106.1% above its current price.Hyundai Motor's average target price is 82.5% higher than its current stock price, while HD Hyundai Electric is at 78.0%, Hanwha Aerospace at 76.3%, and Kia at 75.5%. Posco Holdings shows a potential increase of 71.1%, LG Energy Solution at 66.8%, Naver at 59.1%, and Samsung Biologics at 32.2%.The widening gap between target prices and current stock prices is attributed to a sharp decline in stock prices due to recent market adjustments. In the past month, SK Hynix's stock dropped by 31.8%, while Samsung Electronics fell by 26.7%. Other companies like Hyundai Motor (-21.2%), HD Hyundai Electric (-13.6%), Hanwha Aerospace (-10.5%), LG Energy Solution (-9.8%), Kia (-6.0%), and Posco Holdings (-5.6%) also experienced declines. In contrast, Samsung Biologics (9.6%) and Naver (4.1%) saw increases.Despite the significant stock price adjustments, analysts' earnings forecasts have not changed much, contributing to the growing gap between target and current prices. In fact, while Samsung Electronics and SK Hynix saw their stock prices drop by 26.7% and 31.8% respectively over the past month, their third-quarter operating profit consensus was revised upward by 6.2% and 2.5%. Samsung Biologics and HD Hyundai Electric also had their earnings forecasts adjusted upward, maintaining high target prices.Samsung Biologics (4.6%) and HD Hyundai Electric (2.3%) also saw upward revisions in their third-quarter operating profit forecasts. Conversely, Naver (-8.0%), Kia (-5.4%), Hyundai Motor (-3.6%), Posco Holdings (-1.7%), LG Energy Solution (-0.8%), and Hanwha Aerospace (-0.8%) experienced downward adjustments, although the declines were limited.An industry insider noted, "The recent market adjustment has been more influenced by external uncertainties and weakened investor sentiment than by a rapid deterioration in corporate fundamentals. If the third-quarter earnings meet or exceed market expectations, the gap between stock prices and target prices may gradually narrow."* This article has been translated by AI. 2026-07-27 18:24:00
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Prime Minister Calls for Expanded Youth Housing Policies and Reduced Loans for Non-Residents During a real estate policy forum held on July 27, Prime Minister Han Seung-soo emphasized the need to expand mortgage supply for young homebuyers and to reduce lease loans for non-resident homeowners.At the forum, which took place at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, Kim Young-do, a senior researcher at the Korea Financial Research Institute, stated, "It is necessary to expand policy mortgage support and increase loan availability for the youth." He also noted the importance of considering the selection of actual users and prioritizing between rental and purchase demand.Regarding lease loans, he suggested gradually reducing loans for non-resident homeowners and proposed methods such as reducing guarantees or setting annual reduction targets.On the topic of redevelopment and reconstruction relocation loans, he indicated that some regulations should be rationalized to increase housing supply, while stressing that loans for multiple homeowners should be strictly managed. He also raised the need for differentiated financial policies that consider regional real estate markets.In a discussion on taxation, Professor Kang Seong-hoon from Hanyang University argued that tax deductions for non-resident homeowners should be shifted from ownership deductions to residency deductions. He suggested that adjustments could be made to the basic deduction and the ratio of fair market value and tax rates for multiple homeowners.He also proposed easing the requirements for tax deferral for single homes occupied by the elderly. Regarding capital gains tax, he recommended maintaining the current level of long-term holding special deductions for residential properties while normalizing the tax burden on non-residential properties and applying special deduction limits to high-value homes with significant capital gains.* This article has been translated by AI. 2026-07-27 18:24:00
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Korean Party Begins Disciplinary Procedures Against Three Lawmakers 국민의힘 중앙윤리위원회가 27일 조경태 의원과 진종오 의원, 권영진 의원에 대한 징계 절차를 개시했다. 윤리위는 이날 오후 비공개로 회의를 열고 이같이 의결했다고 보도자료를 통해 밝혔다. 회의는 재적위원 5명 중 3명만 참석한 채 진행됐다. 당초 소수 인원 참석으로 이날 징계 개시가 이뤄지지 않을 것으로 예상됐으나 의결정족수를 채워 의결을 강행한 것으로 보인다. 6선으로 당내 최다선인 조경태 의원은 국민의힘 몫 국회부의장을 선출하는 과정에서 더불어민주당 등 다른 당 의원들에게 박덕흠 국회부의장의 낙선 전화를 했다는 이유로 윤리위에 제소된 바 있다. 친한(친한동훈)계인 진종오 의원은 6·3 국회의원 부산 북갑 보궐선거에서 국민의힘 후보가 아닌 한동훈 무소속 의원을 지원했다는 이유로 윤리위에 제소됐다. 권영진 의원은 최근 후반기 국회 상임위원회 배분에 불만을 갖고 정점식 원내대표의 멱살을 잡는 등 물의를 빚어 윤리위에 제소됐다. 윤리위가 본격적인 징계 절차에 돌입하면서 당내 반발이 커질 것으로 예상된다. * This article has been translated by AI. 2026-07-27 18:20:00
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Changing Drinking Culture Hits Alcohol Industry Amid Declining Sales A 15-year veteran employee, referred to as A, has recently felt a sense of generational change during department gatherings. Once frequent, these events have dwindled to about once a month, with younger employees often opting out, citing commitments like exercise or language classes. A noted, "Whereas past gatherings were all about drinking heavily, now it’s common to wrap up after a meal with just a light drink."The domestic alcohol market is facing a significant blow due to changing drinking cultures and a growing emphasis on health. The impact on the spirits market, particularly whiskey, has been severe. The whiskey industry, a hallmark of high-alcohol beverages, is experiencing a sharp decline in performance, leading to restructuring efforts. Both soju and beer are also facing sluggish sales, prompting alcohol companies to seek new opportunities in low-alcohol and ready-to-drink (RTD) products.According to industry sources, Diageo Korea, which operates the whiskey brand Johnnie Walker, has recently begun accepting applications for voluntary retirement from all employees, offering up to 36 months of salary and a special severance payment of 20 million won. This marks the company's second round of layoffs in about two years. Last year, Diageo Korea's operating profit plummeted by 48.1% to 9.4 billion won compared to the previous year.Competitors in the whiskey sector, including Golden Blue and Pernod Ricard, are also experiencing poor performance. Their operating profits fell by 36.3% and 71.6%, respectively. Golden Blue has not paid performance bonuses, which typically range from 100% to 130% of monthly salaries, due to last year's poor results, and discussions of a potential zero bonus for this year are ongoing.Companies focusing on soju and beer sales are also feeling the chill. Hite Jinro reported a 3.6% drop in consolidated sales (59.08 billion won) and a 10.8% decrease in operating profit (5.59 billion won) in the first quarter compared to the same period last year, with both soju (-2.2%) and beer (-7.9%) sales declining. Lotte Chilsung Beverage also saw significant drops in sales across major alcohol categories, including beer (-25.3%), wine (-2.3%), and spirits (-17.5%).In response, alcohol companies are seeking to adapt and find new paths forward. Despite an overall decline in alcohol consumption, low-alcohol and RTD products are emerging as new growth categories. Companies are strengthening their product lines and exploring new demand through sports marketing and expansion into overseas markets.Lotte Chilsung Beverage has lowered the alcohol content of its soju brand Saero from 16% to 15.7% and is expanding its fruit wine and 200ml product lines. The RTD brand Soonhari Jin is also capitalizing on the growing demand for mixed drinks. The recently launched Saero Omija sold over 2 million bottles within a month, while Soonhari Jin achieved sales of 17 billion won in the first half of the year, surpassing last year's total sales of 16.2 billion won, driving growth in RTD sales.Hite Jinro introduced the top-selling Japanese RTD brand Kirin Hyoketsu Momo to the domestic market last year and recently added a lemon flavor. They have also launched products like Terra Light, which has about one-third fewer calories than regular beer, and various flavored soju options. Their subsidiary, Hite Jinro Beverage, has expanded its non-alcoholic lineup with the addition of Hite Zero 0.00 Lemon & Yuzu.Marketing strategies that once centered around drinking gatherings are now expanding into sports and leisure activities. OB Beer has promoted its non-alcoholic and low-calorie products, such as Cass 0.0, by hosting running events in collaboration with Musinsa Standard Sports, targeting the 2030 demographic. During the North and Central American World Cup, they operated viewing pubs, pop-up stores, and AI-based participation events.To overcome domestic market limitations, companies are accelerating their efforts to penetrate overseas markets. In particular, fruit-flavored soju, which emphasizes lower alcohol content and sweetness, is emerging as a key player in international markets, coinciding with the spread of K-content. According to the Korea Customs Service, the export value of liqueurs, including fruit soju, reached $10.41 million last year, a 4.3% increase from the previous year.Hite Jinro, which offers a series of export-exclusive A-Soju flavors like plum, strawberry, peach, lemon, and melon, reported a 6.9% increase in sales of other flavored spirits, totaling 107.5 billion won last year. Lotte Chilsung Beverage is also expanding its overseas reach, with a 15% increase in fruit soju exports in the first quarter of this year compared to the same period last year, leveraging its distribution networks in over 40 countries, including the U.S., Southeast Asia, and Europe.Ryu In-soo, head of the Korea Alcohol Industry Research Institute, stated, "While the overall market is experiencing a downturn due to weakened consumer sentiment, trends toward lighter drinking centered on low-alcohol, low-volume, and highball beverages, as well as carbonated drinks based on low-alcohol spirits, will be important growth drivers." 2026-07-27 18:20:00
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Dong-A Socio Holdings Reports 38.3% Increase in Q2 Operating Profit Driven by Growth in Dong-A Pharmaceutical and Yongma Logistics Dong-A Socio Holdings has reported double-digit growth, driven by the performance of its key subsidiaries, Dong-A Pharmaceutical and Yongma Logistics.On July 27, Dong-A Socio Holdings announced that its consolidated revenue for the second quarter reached 412.4 billion won, with an operating profit of 39 billion won. Revenue increased by 18.9% compared to the same period last year, while operating profit rose by 38.3%.Dong-A Pharmaceutical, a healthcare specialist, saw its revenue grow by 25.7% to 228.2 billion won, thanks to strong sales of Bacchus and over-the-counter (OTC) products. Its operating profit also increased by 26.6% to 30.2 billion won.Sales in the Bacchus and OTC segments rose by 26.6% and 36.5%, respectively, while the health functional food (HTC) segment grew by 4.4%.Yongma Logistics, a logistics company, reported a 19.7% increase in revenue to 120.5 billion won, driven by an increase in existing client volumes and the acquisition of new clients. Its operating profit surged by 41.6% to 6.9 billion won.In contrast, Biogen, a contract manufacturing organization (CMO) specializing in biopharmaceuticals, experienced a 45.2% decline in revenue to 13.7 billion won, as major client orders were concentrated in the second half of the year. Its operating profit plummeted by 90.0% to 400 million won.For the first half of the year, Dong-A Socio Holdings reported consolidated revenue of 763.4 billion won, a 13.0% increase from the previous year, and an operating profit of 58.1 billion won, up 19.8%.Dong-A Pharmaceutical's revenue rose by 18.3% to 416.2 billion won, with an operating profit increase of 24.7% to 50.8 billion won.Yongma Logistics reported revenue of 231.1 billion won, a 14.6% increase, and an operating profit of 10.7 billion won, up 17.3%.Biogen's revenue fell by 28.1% to 31.7 billion won, with an operating profit down 89.7% to 600 million won.Additionally, Dong-A Socio Holdings announced on July 23 that it has resolved to absorb its wholly-owned subsidiary, Dong-A Pharmaceutical, in a board meeting. The merger is set to take place on October 1.* This article has been translated by AI. 2026-07-27 18:16:00
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Decline of Bars in Seoul: 1,095 Establishments Closed in a Year A post on the community forum for small business owners in South Korea, titled "How much should I earn before deciding to close my business?" received over 140 comments. The author, who has been running a pub for two years, expressed concerns about renewing their lease. Responses included, "I decided to close after my earnings dropped to 3 million won in the off-season and 5 million won in peak season," and "Many small business owners are holding on by working side jobs, so stay strong." The post garnered 26,000 views, indicating that many bar owners share similar worries. Bars in Seoul are disappearing at an alarming rate. The number of closures is nearly double that of new openings, exacerbating the decline in demand for group dining. Amid sluggish domestic consumption and rising labor costs, bar owners are struggling, particularly as drinking culture shifts from group gatherings to individual or small-scale consumption, leading to reduced alcohol sales and a domino effect of closures. According to the Seoul Business Analysis Service, the number of pubs and taverns in the city fell to 15,595 in the first quarter of this year, down 1,095 (6.6%) from 16,690 during the same period last year. Compared to the first quarter of 2024, when there were 18,179 establishments, this marks a decrease of 2,584 (14.2%) over two years. Pubs and taverns primarily sell alcohol and snacks. The Seoul Business Analysis Service compiles quarterly data on store openings and closures based on business registration information. The number of closures is approaching double that of new openings. In the first quarter of this year, 313 new pubs and taverns opened, while 597 closed, resulting in a net loss of 284 establishments. The opening rate was 2.0%, while the closure rate was 3.8%. However, the pace of closures has slightly eased compared to last year. The number of new openings increased from 283 to 313, while closures decreased from 674 to 597. The closure rate dropped from 4.0% to 3.8%, but the number of closures continues to exceed openings, leading to an overall decline in establishments. While the overall restaurant industry showed signs of improvement in the second quarter, bar owners report that their sector is recovering more slowly than others. The Korea Agro-Fisheries & Food Trade Corporation's "2026 Second Quarter Restaurant Industry Business Trend Index" report indicates that the current index for the overall restaurant industry rose to 78.82, up 2.04 points from the first quarter (76.78). An index below 100 indicates that more businesses reported worsening conditions compared to the same period last year. The current index for bars stands at 72.23, a slight increase of 1.15 points from the previous quarter (71.08), but remains the lowest among major sectors. The outlook index for the third quarter is also lower at 80.19, down 2.35 points from the second quarter's forecast of 82.54. The decline in bars can be attributed to various factors, including the sluggish domestic economy, but the changing drinking culture and reduced alcohol consumption are also significant contributors. Even when gatherings occur, the trend is shifting away from late-night drinking sessions to shorter lunch meetings or brief first gatherings. Analysts suggest that the decrease in pubs reflects broader changes in dining culture and household structures, such as the rise of single-person households. Overall alcohol consumption is also on the decline. According to the National Tax Service's statistics portal, domestic alcohol shipments peaked at 4,073,615 kiloliters in 2015 but plummeted by 26.7% to 2,987,726 kiloliters by 2025. Last year, beer shipments fell by 7.2% to 1,518,931 kiloliters, while diluted spirits decreased by 2.8% to 792,912 kiloliters. In contrast, shipments of general distilled spirits, which include fruit wines, increased by 6.6% to 4,056 kiloliters. Shipments of general distilled spirits rose from 1,785 kiloliters in 2023 to 3,805 kiloliters in 2024 and 4,056 kiloliters in 2025. An industry representative stated, "As the number of group gatherings decreases and single-person households increase, the consumption of large quantities of alcohol in social settings continues to decline. The industry is also shifting its focus to low-alcohol and smaller-sized products to cater to individual preferences." 2026-07-27 18:16:00
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YouTuber Baek Jin-kyung's Past Photos Spark Online Buzz YouTuber Baek Jin-kyung, known for her role as an honorary British figure, is drawing attention due to her past photos. Her recent revelations about her experiences during a working holiday in the United States have further piqued the interest of netizens.On July 27, a post featuring Baek Jin-kyung's past photos surfaced on an online community.The images showcase Baek Jin-kyung posing confidently, highlighting her glamorous figure. Notably, her curvaceous body caught the eye of many.Additionally, her past anecdotes shared on the YouTube channel 'Chimchakman' have resurfaced. During the broadcast, Baek Jin-kyung reminisced about her time in the U.S., stating, "In America, there was a preference for curvy women."She continued, "From the airport, people were staring at me, causing traffic jams. Since a curvy figure is not common among Koreans, I think I appeared as a limited edition. At that moment, I thought, 'This is my second hometown.'"Baek Jin-kyung also noted, "In Korea, my style isn't popular, so I wasn't well-received, but it was different in America. There were instances of catcalling, with men whistling or asking for my number, but I enjoyed it. If the person being catcalled is happy, isn't that what matters?" This statement has sparked considerable discussion.As her comments gained traction online, various reactions accompanied the past photos.Netizens commented, "Seeing the past photos, I can understand why," "She definitely fits the American taste," "She has that hot girl vibe," and "I would have asked for her number too."* This article has been translated by AI. 2026-07-27 18:12:00