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Coors announces joint venture.

Boldly going where no American brewer has gone before, the Coors Brewing Co. has announced plans to build a joint-venture brewery in South Korea. In the first such overseas move by a U.S. brewing concern, Coors is allying itself with Jinro, Ltd., a Korean distiller.

According to a report in The Wall Street Journal, the joint venture will be 33 to 35 percent owned by Coors, and the proposed $200 million brewery would have a capacity of 1.8 million barrels. "Establishing a brewery in the Republic of Korea fulfills a very important step in Coors's plan to become an international brewer," said Peter Coors, president of the Golden, CO-based brewing company. "The development of this new company with Jinro Limited marks a significant point in our company's history."

The plan is contingent on Coors and Jinro acquiring a beer license from the South Korean government. To date, the country has only issued two such licenses, to the Oriental Brewery Co. and Chosun Brewery Co. However, Coors reports the Korean government has announced plans to issue a third license.

Jinro Limited is the largest general alcohol beverage maker in the Republic of Korea. This agreement marks Jinro's entry into the beer brewing business.
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Title Annotation:Adolph Coors Co. plans to build a joint venture brewery in South Korea with Jinro Ltd.
Publication:Modern Brewery Age
Article Type:Brief Article
Date:Sep 16, 1991
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