South Korea’s Lotte Chilsung Beverage Co. announced on Tuesday that it partnered with the world's largest winery E&J Gallo to expand its soju products market share in the US liquor market.
From January next year, California-based E&J Gallo will support the sales of Lotte Chilsung Beverage's soju brands such as Cheoeum Cheoreom, Saero, and Soonhari in the US. Lotte Chilsung Beverage will assist in selling wine of E&J Gallo in the South Korean market.
The two companies signed a memorandum of understanding (MOU) on Monday at Lotte World Tower in Jamsil, Seoul. Lotte Chilsung Beverage CEO Park Yoon-gie and E&J Gallo Vice Chairman Bill Roberts attended at signing ceremony.
E&J Gallo, which has collaborated with Lotte Chilsung Beverage in the Korean market since 2017, maintains a global presence with around 75 affiliates, over 140 brands, and wine exports to about 110 countries. Their portfolio includes renowned brands such as Carlo Rossi, Apothic, and Orin Swift.
"E&J Gallo's extensive experience and influence in the US liquor distribution market will be invaluable in expanding the reach of our soju products in the US," a Lotte Chilsung Beverage source said.
Write to Young Chan Song at 0full@hankyung.com
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