Hite Jinro announced on Jan. 6 that it has set up a foreign company called Hitejinro Philippines in Manila, the capital of the Philippines, to tap into the local market.
Hitejinro Philippines acquired a business license at the end of July last year and began operations in October with import permits. Last month, the company exported 13,000 boxes of “Chamisul” and overseas-only goods such as “Strawberry Isul”, which are gaining popularity around the Southeast Asia. The one box consisted of 30 360ml bottles.
The Philippine corporation is the first overseas corporation in three years since the establishment of the Vietnamese corporation called Hitejinro Vietnam in 2016. It is Hite Jinro's sixth overseas corporation after Japan, the United States, China, Russia and Vietnam.
Hite Jinro declared "globalization of soju" in 2016 and has been focusing on Southeast Asian countries in the Indochina Belt by considering various factors such as economic growth, population base and the current state of the liquor market.
It has launched a market offensive through local clients in the Philippines since 2016, before the establishment of the corporation. The company has been engaged in various marketing activities, including a club party, to build up its brand image.
"We will raise the status of Korean liquor by establishing a company in the Philippines and promoting it to suit local characteristics," said Hwang Jeong-ho, general manager of Hite Jinro’s overseas business division.