HiteJinro starts Kirin production: KB cuts HiteJinro stock target to KRW 22,000

Published on 10/20/2026 at 00:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Local output targets 1.5 million liters by December 31, 2026. Q2 revenue was KRW 618.6 billion, while HiteJinro stock has a KRW 22,000 target.

Kirin partnership and earnings context

HiteJinro targeted 1.5 million liters of local Kirin production on October 12, 2026.
Second-quarter revenue reached KRW 618.6 billion and operating profit KRW 65.7 billion.
KB Securities cut its target from KRW 25,000 to KRW 22,000 on October 1, 2026.
HiteJinro's next earnings date is November 12, 2026.

HiteJinro, KR7000080002, Illustration mit AI erstellt.

HiteJinro (ISIN KR7000080002) is targeting 1.5 million liters of locally brewed Kirin Ichiban by December 31, 2026. Kirin Holdings said on October 13, 2026, that production had started at HiteJinro's Jeonju Brewery in South Korea, expanding a relationship that began in 2004.

Kirin output adds operating leverage

The partnership shifts part of Kirin Ichiban supply from imports to domestic production. According to Seoul Economic Daily on October 13, 2026, delivery times could fall from 1.5 months to one or two weeks, with logistics savings directed toward marketing and promotions.

The production plan also gives HiteJinro a route to use existing capacity more efficiently. ChosunBiz reported on October 12, 2026, that the Jeonju plant operated at 57.70 percent in the first half of 2026, compared with 58.30 percent in 2025 and 67.00 percent in 2024.

What does the target cut mean?

KB Securities lowered its HiteJinro target from KRW 25,000 to KRW 22,000 on October 1, 2026, a 12.00 percent reduction, while retaining a Buy rating. Asiae said the cut reflected weaker beer volumes and a prolonged industry slowdown, while lower selling and marketing costs were expected to support third-quarter earnings.

Recent figures and next date

HiteJinro reported second-quarter 2026 revenue of KRW 618.6 billion and operating profit of KRW 65.7 billion. Revenue was 4.70 percent higher than the first quarter's KRW 590.8 billion, while operating profit rose 16.08 percent from KRW 56.6 billion, based on the reported quarterly figures summarized by Atsview.

The next earnings date is November 12, 2026, according to Investing.com. That report will show whether the Kirin rollout is beginning to offset pressure in HiteJinro's domestic beer business.

Capacity and earnings set the test

The Kirin agreement offers a measurable operational test: HiteJinro aims to shift 75.00 percent of annual Korean Kirin sales to domestic production in 2027, while its second-quarter revenue was still down 4.30 percent year over year. The combination of faster supply and weaker core beer demand leaves cost savings and utilization as the key near-term indicators.