Amid persistently high prices, an ultra-cheap beer priced at 1,700 won has hit shelves — following the earlier launch of 990-won soju. The Small Enterprise and Market Service (SEMAS) has teamed up with national supermarket associations to sell an exclusive beer at neighborhood stores, aiming to boost their competitiveness and revitalize local commercial districts.
SEMAS signed MOUs with Squeeze Beer, the Korea Supermarket Cooperative Federation, the Korea Mart Association and the Korea Superchain Distribution Business Cooperative (KVC) to launch "Mantang Beer," a product exclusive to neighborhood supermarkets, industry sources said Wednesday.
Mantang Beer went on sale Wednesday at about 30,000 neighborhood supermarkets nationwide, priced at 1,700 won per can. The initiative aims to ease the burden of high living costs while drawing consumers back to local stores and boosting sales in neighborhood commercial districts.
The product is a 100 percent lager brewed by Squeeze Beer, developed as part of a mutual-growth project linking supermarket associations with small-business products. It is particularly notable as the first nationwide cooperative initiative jointly pursued by the three organizations representing the domestic supermarket industry.
SEMAS is also introducing a range of snack products alongside the beer. Three items — shrimp chips previously sold only in select regions, products from the Namwon Gimbugak Cooperative and products from its century-old small-business line — are set to roll out at neighborhood supermarkets across the country.
SEMAS Chairman In Tae-yeon said Mantang Beer is "the result of mutual cooperation among SEMAS, supermarket associations, small business owners and the manufacturer," adding that the agency would "continue to expand private-sector partnerships so that more quality small-business products can reach consumers, and keep developing mutual-growth models that help revitalize neighborhood commercial districts."
SEMAS had already pursued a similar ultra-cheap liquor initiative in April, partnering with Sunyang Soju and KVC to supply about 9.9 million bottles of "Chakhan Soju" — priced at 990 won — to more than 10,000 supermarkets nationwide, drawing wide consumer attention.
Industry observers say ultra-cheap products are emerging as a new marketing tool for revitalizing local commercial districts at a time when consumer sentiment has been dampened by persistently high prices. The key question going forward, however, is whether these efforts can evolve beyond one-off price competition into a sustainable mutual-growth model.
Minimum wage negotiations for next year have begun in earnest. After labor groups submitted an initial demand of 12,000 won per hour, small business owners and small and medium-sized enterprises said the current minimum wage is already difficult to bear, with some considering automation or reducing hiring.
rainbow@heraldcorp.com
