South Korean company Fidelis F&B has acquired the domestic sales rights for the renowned Chinese liquor Wuliangye, the company said Tuesday.
According to Fidelis F&B, the company held a contract-signing ceremony with Wuliangye manufacturer Yibin Wuliangye Group on Nov. 1.
Fidelis F&B CEO Kim Seong-jun (left) and Yibin Wuliangye Group CEO Wang Ping pose for a photo after a contract-signing ceremony Nov. 1 at Yibin Wuliangye Group headquarters. (Fidelis F&B)
Wuliangye is a type of Chinese baiju and is made of fermented mixed grains. It has a smoother and more delicate aroma than its Korean equivalent, soju, which is made of fermented white rice.
Under the contract, the company said it will sell six kinds of Wuliangye that are already well known in Korea. It also plans to introduce other Chinese liquor products.
“We will kick off sales of Wuliangye in Korea by delivering the products to duty-free stores for Chinese tourists and Chinese residing in Korea. We also plan to hold events like tastings and product exhibitions to target the growing Korean baiju market,” said Fidelis F&B CEO Kim Seong-jun.
“Our group has long wished to enter the overseas market. By securing a trusted local dealer in Korea, we will (spare no support to facilitate) sales of Wuliangye in the Korean liquor market,” said Yibin Wuliangye Group CEO Wang Ping.
By Kim Da-sol (email@example.com