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KOREA: Hite to launch new brand next month

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Korea's largest brewer, Hite, is set to launch a new premium beer brand, Hite Prime, next month. The launch forms part of the company's strategy aimed at boosting its current market share of 54% to 68% by 2007. Hite said the new brand was a German-style all-malt beer.

Another major player in the Korean beer market, OB, has also announced that it is stepping up its marketing with the aim of re-claiming the number one position from Hite within the next two to three years. OB is the official beer sponsor for the World Cup, taking place in Japan and Korea this summer, and it believes this will give it the necessary impetus to increase its market share from 46% last year to 48% by the end of 2002.


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