Hite Jinro mulling acquiring Japanese liquor firm

Hite Jinro Co., Korea's No. 1 beer and soju producer, said Wednesday that it is considering buying a Japanese liquor company in a bid to expand its overseas presence.

"We are mulling over a plan to purchase a factory of distilled liquor in Japan but nothing has been decided yet, including the target firm and price," the company said in a regulatory filing.

The company said it is making efforts to strengthen its presence in global alcoholic beverage markets including Japan.

Hite Jinro takes up some 40 percent of Korea's beer market and 50 percent of the local market of soju, the country's distilled liquor.

Sales of Hite Jinro reached 800 billion won ($717 million) in the first half of this year, including 57.9 billion won in exports. (Yonhap)