Los Angeles, CA, May 13, 2014 --(PR.com
)-- According to research conducted by Korean Wine Market, wine sales have risen by almost 56% in the past year in South Korea, this is due to the global increase in demand for Wine as an investment, and general increased Korean consumption of wine. However this upward trend has now continued into its sixth year. With lack of demand after the late 2000's recession being the only down years in recent memory for the Korean wine market.
According to wine expert James Mellon, wine is a solid investment. "Wine has always been a great investment, but its only been taken seriously as an investment up until very recently."
He adds, "Wine has also consistently outperformed the real estate and stock market indexes here in South Korea."
Is the trend set to continue? "Well that's difficult to ascertain right now, there may be a cooling off period where prices recede, but in the long run, I see Wine as being a strong investment."
Native South Korean Authority on the matter, and renowned wine tasting expert Park Yun Soo, doesn't share Jim's optimism.
"Wine has traditionally been something people in Korea only look at as a beverage, and nothing more, the Korean wine market has risen due to foreign investors entering the market. Domestic demand hasn't increased at all, people still see wine as something that you drink and not something that you store, which then goes up in value."
Park believes this cultural mindset will be hard to alter. "The optimism amongst overseas wine buyers is not shared by Koreans."
What happens in the future of the wine market in an emerging Market like Korea remains to be seen. Will the rise in prices continue?