Argentine winemakers explore Korea's premium market

Alberto Arizu, left, CEO of Bodega Luigi Bosca, and Marcelo Marasco, export manager Asia, Canada, Africa and Middle East at Catena Zapata, pose with their respective wines during the Argentine wine-tasting event hosted by the Embassy of Argentina in Korea at Four Seasons Hotel Seoul, May 10. Korea Times photo by Choi Won-suk

By Kwon Mee-yoo

Argentina is one of the top winemaking countries in the world and is especially acclaimed for its Malbec wines. Known for their remarkable quality, Argentine wines are quickly becoming a favorite in Korea's burgeoning wine market.

With a characteristic deep, dark and inky purple color, Malbec is a full-bodied wine with soft tannin. Malbec grapes thrive in Argentina's high-altitude vineyards, where hot days allow for full ripening and cool nights help preserve acidity and aromatic freshness, giving the wines a balance of ripe fruit flavors and bright, vibrant character.

The deep color of Malbec is a result of its high-altitude growth conditions, its grape's skin darkens as a defense against high UV levels, protecting the seeds for future generations.

The Embassy of Argentina invited two leading Argentine winemakers to Korea on the occasion of the Wines of Argentina, an annual Argentine wine-tasting event hosted by the embassy.

Alberto Arizu, CEO of Bodega Luigi Bosca, and Marcelo Marasco, export manager of Asia, Canada, Africa and the Middle East at Catena Zapata traveled to Korea to showcase their wines to about 300 guests, including individuals from the food and beverage industry and wine connoisseurs, who were present at the 2023 edition of the event at Four Seasons Hotel Seoul, May 10.

Argentine Ambassador to Korea Alfredo Carlos Bascou expressed his pride in offering more than 200 varieties of Argentine wine originating from 70 wineries, represented by 32 importers in Korea.

"This is more than double the last year, which is, I believe, a good response for the market of the Argentine wines," Bascou said.

"(Arizu and Marasco) have a large learning experience and knowledge about the wines of our country. So if you have inquiries or need any interesting information about the wines, they are keen to give you some answers."

Both Luigi Bosca and Catena Zapata take great pride in presenting Malbec as their flagship wine. However, at the same time, their diverse portfolio also includes other varietals such as Pinot Noir, Cabernet Sauvignon and Sauvignon Blanc.

Argentine Ambassador to Korea Alfredo Carlos Bascou announces the opening of the Argentine wine-tasting event hosted by the embassy at Four Seasons Hotel Seoul, May 10. This year's event featured more than 200 varieties of Argentine wine from 70 wineries. Korea Times photo by Choi Won-suk

Luigi Bosca CEO of Arizu said the winery had been a family enterprise for four generations, boasting a history of over 120 years and insisted that they are reshaping the concept of luxury in the Argentine wine industry.

"I often describe the wines from my family's estate as highly distinctive for their character. They finesse the elegance and strike a harmonious balance between acidity and alcohol. The rich, powerful flavors in the mouth with very soft tannins and a rounded palate, these wines leave a long-lasting aftertaste and a pleasant finish that is the hallmark style of Luigi Bosca wines," Arizu told The Korea Times.

Luigi Bosca entered the Korean market more than 10 years ago. The winery has been focusing on establishing its brand across Asian markets in recent years with a particular emphasis on Korea due to its market potential.

"I think that the Korean market is a very established market for high-end wines, so we consider that it could be one of the most interesting markets for Argentine wines, especially for Luigi Bosca. We're really interested in continuing to explore and develop the wine market in Korea, which is definitely a good market in terms of quality," Arizu said.

Luigi Bosca's strategy is tailored towards the high-end market, primarily targeting restaurants, bars and hotels. Given the quality and price point of its wines, the winery generally avoids supermarkets in favor of wine and liquor stores and on-premise establishments that better suit the brand and products.

Catena Zapata also sees Korea as a significant market where Argentine premium, super-premium, and ultra-premium wines are highly appreciated but has a slightly different approach. It has formed a partnership with Shinsegae L&B, the largest wine importer in Korea, leveraging the strong distribution network provided by its parent company, Shinsegae Group.

"We have our premium wines in Emart and our super-premium wines are in Shinsegae Department Stores, Wine and More and SSG Food Market Cheongdam. In the beginning, we were focused on very premium restaurants and hotel distribution and now in the last few years, we are more focused on retail distribution," Marasco of Catena Zapata explained.

Catena Zapata has recognized the increasingly sophisticated tastes of Korean consumers, who are now leading trends in the premium wine market across Asia.

"We realize that retail also is a very important channel. So we need to open our distribution more for the retail sector. Of course, we are a luxury, family-owned winery, so we need to make sure that we will be in the condition to supply high demand and found some allocation for Korea to start distribution in retail and secure a location in the Korean market," Marasco said.

"We saw that Chile was selling well, particularly popular in entry-level wines. We know that we have a stronger position in the premium segment, so we can make a stronger position in Korea with sophisticated Korean consumers."