Muhak

What Muhak does

Muhak Co., Ltd. is a South Korean alcoholic beverage manufacturer founded in 1929 in Masan, Gyeongsangnam-do, and currently ranked as the 3rd largest soju company in South Korea. The company is publicly traded on both KOSDAQ (since 1998) and KOSPI (since 2010), headquartered in Changwon, with operations spanning 4 production facilities (Changwon Plants 1 & 2, Ulsan Plant, Chungju Plant), 7 logistics centers, and 9 sales branches across Korea, plus a wholly-owned Vietnamese subsidiary (Victory, acquired 2017). Its product portfolio centers on soju, with flagship brand Good Day (launched 2006 as Korea's first 16.9-degree mild soju, relaunched in 2026 at 15.7% ABV) and White (Korea's first 100% rice soju, 1995), and extends into sparkling fruit wines (Tocksoda), fruit wines (Plum Village), herbal wines (Autumn Chrysanthemum), steeped soju, and flavored spirits.

The company monetizes through traditional Korean two-tier alcohol distribution: primary wholesalers (1차 도매상) and secondary retailers (2차 소매점) covering convenience stores, restaurants, and bars, supplemented by direct export to 38 countries ($10M export revenue in 2021). Muhak also operates adjacent subsidiaries including Muhak Liquor Trading Company (distribution), Jirisan Sancheng Spring Water (bottled water), Muhak With (disability-employment subsidiary, established 2012), and the Good Day Sharing Foundation (non-profit social contribution arm). Corporate GTM motion emphasizes celebrity endorsements, regional event sponsorships, and cultural brand-building assets like the Good Day Museum (3,500+ global liquor exhibits). The company is family-led, with Chairman Choi Jae-ho at the helm since 1994.

Name

Muhak

Legal name

주식회사 무학

Website

https://muhak.co.kr

Company type

Public

Founded year

1929

Operating status

Operating

Headcount range

1–10 employees

Short description

Muhak is a South Korean soju and alcoholic beverage manufacturer, founded in 1929 and ranked 3rd-largest in Korea's soju market. It produces flagship brands Good Day and White soju, plus fruit wines and herbal spirits, distributing through Korean wholesalers and exporting to 38 countries.

Ownership category

akta.pro rank

Product category

Soju & Korean Spirits Manufacturing

NAICS

Beverage Manufacturing (3121), Distilleries (312140), Beverage and Tobacco Product Manufacturing (312)

SIC

Beverages (2080)

akta.pro primary industry

Sake, Soju & Other Asian Alcoholic Beverages Producers & Brands (CRADAIAF)

akta.pro secondary industries

Sake & Traditional Rice Wine Production (AFAFAAAG), Alcohol-Free & Low-Alcohol Beer/Wine/Spirits Production (AFAFAAAJ)

Keywords

• Korean soju production
• Rice-based spirits
• Fruit wine manufacturing
• Traditional alcoholic beverages
• Low-alcohol soju

Headquarters

HQ city

Changwon

HQ country

South Korea

HQ region

Asia

Offices19 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D

Distribution channels4 records

Marketing channels5 records

Core offering

Muhak manufactures and sells Korean alcoholic beverages, with a core focus on soju distilled from 100% domestic rice. The company operates production facilities in Changwon, Ulsan, and Chungju, producing flagship brands Good Day (15.7% ABV mild soju with 72-hour oxygen aging) and White (23% rice soju), alongside fruit wines (Tocksoda, Plum Village), flavored spirits, steeped soju, and traditional herbal wines, distributing through domestic wholesalers/retailers and exporting to 38 countries.

Product overview

Muhak is a Korean alcoholic beverage company offering a portfolio of soju, fruit wines, and traditional Korean spirits. Core products include the Good Day soju brand (15.7% ABV premium low-alcohol soju with 72-hour oxygen aging) and White soju (Korea's first 23% rice soju). The portfolio extends to flavored spirits like Good Day Calamansi and Busan Seagull variants, sparkling fruit wine series (Tocksoda) in bottles and cans, plum wine (Plum Village), and traditional herbal wines like Autumn Chrysanthemum. The company also produces steeped soju products and exports various products to 38 countries.

Differentiator

Problem solved

Functional benefit

Brands

• 좋은데이 (Good Day): Flagship soju brand launched in 2006 as Korea's first 16.9-degree mild soju; renewed in 2021 and 2026 as premium low-alcohol soju
• 화이트 (White)
• 톡소다 (Tocksoda)
• 좋은데이 부산갈매기 (Good Day Busan Galmaegi)
• 매실마을 (Plum Village)
• 가을국화 (Autumn Chrysanthemum)
• 좋은데이 컬러시리즈 (Good Day Color Series)
• 굿데이뮤지엄 (Good Day Museum)
• 좋은데이나눔재단 (Goodday Sharing Foundation)

Products and services

• Good Day (좋은데이) Premium low-alcohol soju at 15.7% ABV featuring 100% Korean rice distilled spirit base and 72-hour oxygen aging process, marketed as the 'originator of smooth soju'. Sold to Korean adult consumers for social and personal consumption.
• White (화이트) Korea's first 23% rice soju made from 100% rice, positioned as a higher-strength alternative to Good Day for traditional soju consumers.
• Good Day Calamansi (좋은데이 깔라만시) Good Day Calamansi flavored distilled spirit, offering a citrus-flavored variant of the core Good Day soju line for consumers seeking flavored spirit options.
• Good Day Busan Galmaegi 19 (좋은데이 부산갈매기19) 19% ABV soju featuring Busan seagull branding and city imagery with hottu tree extract for smooth finish, targeted at regional consumers.
• Good Day Busan Galmaegi 16 (좋은데이 부산갈매기16) 16% ABV lower-alcohol version of Busan Seagull soju, targeting consumers who prefer a lighter taste profile.
• Plum Village (매실마을) Plum wine made from environmentally cultivated Hadong green plums, featuring rich flavor and sweetness at 12.5% ABV.
• Tocksoda Series (톡소다 시리즈) Sparkling fruit wine series based on Spanish white wine, available in bottle formats (pineapple, tropical, pomegranate, apple, blueberry, lemon) and canned formats (hibiscus, grapefruit honey black tea, plum, apple cinnamon, lemon black tea).
• Autumn Chrysanthemum (가을국화) Traditional herb wine at 12.5% ABV featuring wild chrysanthemum flowers, retaining deep natural fragrance for consumers seeking traditional Korean medicinal spirits.
• Good Day Pickle (좋은데이 담금주) Traditional steeped soju available in 1.8L, 3.6L, and 5L sizes at 25% and 30% ABV, for consumers preferring traditional high-proof steeped spirits.

Quantifiable outcome

• Good Day achieved 2.1 billion bottles sold within 10 years of launch (2006-2016)
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and major.

• Busan Nonghyup (부산농협)coreStrategic or Co-development Partner · 20 May 2026Social contribution and rural activation partnership signed in May 2026, expanding on 2022 agricultural cooperation agreement. Focuses on 'Nongsim Cheonseom' movement to support farmers and rural communities, including volunteer activities and agricultural product promotion.
• Nonghyup Central Federation Gyeongnam Branch (농협중앙회 경남본부)coreStrategic or Co-development Partner · 8 May 2026Community contribution and co-prosperity agreement signed May 2026. Collaborative initiatives include social welfare activities, rural revitalization, and agricultural product consumption promotion. Muhak received 'Social Contribution Excellence Corporate Appreciation Plaque' from Nonghyup Central Federation.
• Busan Metropolitan City Volunteer Center (부산광역시자원봉사센터)majorStrategic or Co-development Partner · 14 April 2026Annual partnership for 'Cool Roof Support Project' since 2014 - 13th consecutive year in 2026. Collaborative home improvement initiative for vulnerable households including heat-reflective roof coating, benefiting Busan's underprivileged residents.
• Gyeongnam Nonghyup (경남농협)coreStrategic or Co-development Partner · 1 January 2026Ongoing partnership for agricultural support including farm equipment mobile repair services. Muhak sponsors 3 million KRW per session (5 sessions annually, total 15 million KRW) for farm equipment repair parts, supporting rural farmers during peak farming seasons.
• Vietnam's Victory (빅토리)coreStrategic or Co-development Partner · 1 January 2017Acquired Vietnam's Victory liquor company in 2017, marking Muhak's expansion into Southeast Asian alcoholic beverage market as part of global growth strategy.

Scale indicators7 records

Recent moves10 records

Expansion highlights4 records

Direct peers

• Kumbokjin (국보): Established Korean soju manufacturer and one of the regional soju companies consolidated during Korea's historical brewing consolidation. Competes in domestic Korean soju distribution with similar distribution model.
• HiteJinro: Korea's #1 soju company, maker of Chamisul (참이슬) and Jinro (진로), controlling the dominant share of the Korean soju market. Direct competitor to Muhak in the same product category with similar core functionality, distribution model, and customer base.
• Lotte Chilsung Beverage: Korea's #2 soju company (Cheoeum-cheoreom 처음처럼) and broader beverage portfolio player. Competes head-to-head with Muhak's Good Day in mild soju category while also offering beer, soft drinks, and other beverages.
• Kook Soon Dang (국순당): Korean traditional liquor producer offering makgeolli, soju, and other Korean spirits with both domestic and export distribution. Comparable product portfolio breadth and Korean retail distribution model.
• Seoul Jangsoo (서울장수): Korean traditional soju producer with regional presence. Comparable product (distilled Korean soju) and distribution model through Korean retail, though focused on traditional rather than mild segment.
• Bohae Brewery: Korean soju and traditional liquor producer competing in the same Korean soju market. Comparable in product range and target consumer, though smaller in scale relative to Muhak.
• Daesun Distilling: Korean traditional liquor producer known for Andong Soju and other regional spirits. Comparable to Muhak in offering distilled Korean spirits, with similar distribution through Korean retail channels though smaller national scale.
• Charm Soju (참소주): Korean soju producer offering traditional distilled soju products. Comparable in product category and Korean retail distribution, though focused on traditional rather than mild soju segment.

Broad incumbents

• Asahi Group Holdings: Japanese beverage and spirits conglomerate with broad alcohol portfolio including shochu, beer, and RTD beverages. Overlaps with Muhak in Asian distilled spirits category and broader alcohol distribution, though Asahi operates at significantly larger scale.
• Suntory Spirits: Japanese spirits giant and global player in Asian spirits including shochu (Japan's traditional distilled spirit comparable to soju). Comparable in traditional rice-based distilled spirit category and global spirits distribution, though operates at much larger scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/soju.goodday
• LinkedInlinkedin.com/company/muhak-co-ltd

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Muhak