Edrington Korea confirms closure in March
The Macallan Scotch whisky owner Edrington has confirmed it will close its Korea operations at the end of March.
Edrington Korea was based in Seoul. Further details regarding Edrington Korea’s closure are not yet being revealed.
A spokesperson for Edrington said: “After a review of our business model in the Korean market, it is our intention that Edrington Korea will cease operations by 31 March 2020.
“We have entered into consultation with our people to ensure that we provide support during this period.
“A decision on the route to market for Edrington’s portfolio of brands in Korea will be made in the coming months.”
Last year, Edrington reported a 9% sales increase to £679.8 million (US$864.3m) for the year ending 31 March 2019, boosted by Scotch brands Highland Park and The Glenrothes, and Brugal rum.
In August 2019, Diageo revealed plans to close its whisky plant in Icheon, South Korea, in 2020. Announced in August last year, the decision came about due to “low” utilisation of the facility and “cost competitiveness”.