Spain Became South Korea’s Largest Wine Supplier by Volume

South Korea imported 27.63 million liters of wine worth €184.22 million in the first half of 2026, a slight drop in volume and a steeper decline in value from a year earlier, while Spain overtook Chile as the country’s largest supplier by volume, according to Korean customs data analyzed by the Spanish Wine Interprofessional Organization, or OIVE, and cited by the Observatorio Vitivinícola Argentino.

The figures cover January through June and show that total wine imports into South Korea fell by 232,000 liters, or 0.8%, from the same period in 2025. Import value fell by €9.04 million, or 4.7%. The average customs value declined from €6.94 to €6.67 per liter, down €0.27, or 3.9%.

That wider drop in value than in volume points to a cheaper import mix entering the market. Trade analysts cautioned, however, that customs unit values reflect not only pricing but also changes in product category, packaging format, and the balance between bulk and bottled shipments.

The biggest change among the leading suppliers came from Spain and Chile. Spain increased its shipments by 729,247 liters to 6.29 million liters, a 13.1% rise from a year earlier. Chile moved in the opposite direction, losing 944,367 liters and falling to 4.91 million liters, a 16.1% drop. That shift lifted Spain into first place by volume and pushed Chile into second.

In value terms, Spain’s performance was different. Its sales to South Korea were almost unchanged at €13.21 million, leaving it in sixth place by value even as it became the largest supplier by volume. Spain’s average value per liter fell from €2.38 to €2.10, a decline of 11.6%. OIVE said the increase was driven largely by bulk wine, which tends to carry a lower unit value than bottled shipments. Spanish bulk and large-format shipments to South Korea rose 62.5% to 2.82 million liters in the first half.

Chile also lost ground in value. Its export revenue from the South Korean market fell 20.2% to €16.41 million. Its average customs value edged down from €3.51 to €3.34 per liter.

France remained the clear leader by value. French wine shipments to South Korea brought in €70.68 million in the first half, up 2.6% from a year earlier, even as French volume dipped 2.7% to 4.06 million liters. That left France in third place by volume but first by value, with an average customs value of €17.40 per liter, up 5.5%.

Italy remained third by value at €23.25 million, down 7.6%, and fourth by volume at 3.15 million liters, down 12.1%. The United States ranked second by value at €27.57 million, down 5.4%, but posted one of the strongest volume gains among major suppliers. U.S. shipments rose 42.1% to 2.99 million liters, lifting the country to fifth place by volume. The average customs value of U.S. wine fell sharply from €13.86 to €9.23 per liter.

New Zealand, Australia, and Germany all recorded declines in value. New Zealand’s export value to South Korea fell 11.9% to €13.95 million, while its volume was nearly flat at 2.64 million liters, up 0.6%. Australia’s value fell 3.8% to €7.48 million and its volume dropped 15.2% to 2.01 million liters. Germany’s value fell 17.8% to €3.72 million and its volume declined 6.2% to 361,761 liters.

Argentina was one of the few suppliers to post gains in both volume and value. Its shipments rose by 70,139 liters to 432,800 liters, a 19.3% increase, while revenue rose by €115,400 to €2.69 million, up 4.5%. Even so, Argentina’s average customs value fell from €7.11 to €6.23 per liter, a drop of €0.89 or 12.5%. Argentina ranked ninth by value and eighth by volume among wine suppliers to South Korea in the period.

A breakdown by category shows that weakness in the South Korean market was concentrated in bottled wine and sparkling wine, while bulk wine expanded. Bottled wine imports fell 1.4% in volume to 20.12 million liters and 6.0% in value to €137.92 million. Sparkling wine fell 13.4% in volume to 2.65 million liters, while value was nearly flat at €35.38 million, down 0.2%. Bag-in-box imports declined 14.6% in volume to 1.25 million liters and 19.1% in value to €1.86 million.

Bulk wine and shipments in containers larger than 10 liters moved in the other direction. South Korea imported 3.62 million liters in that category in the first half, up 23.2% from a year earlier, while value rose 2.4% to €9.05 million. The average customs value for bulk imports fell 16.9% to €2.50 per liter. Spain led that category with 2.82 million liters, up 62.5%, and €2.01 million in value, up 52.3%.

The broader trend remains mixed. OIVE’s report said that on a rolling 12-month basis through June 2026, South Korea’s wine imports stood at €375.5 million, down 9.2%, while volume reached 56.2 million liters, up 1.3%. That suggests the market has been stabilizing in volume after a longer decline but remains under pressure in value.

Even with the pullback this year, South Korea remains one of the faster-growing wine import markets over the longer term. OIVE said the country’s wine imports increased by €213.6 million and 56.5 million liters over the past decade when comparing 2025 with 2015. The figures cited in the report were compiled from Korean customs statistics, and the reported unit values reflect the mix of products and formats entering the market as much as changes in commercial prices.