HiteJinro. Recently, Lotte Liquor has entered the beer market with Kloud, creating a three-way competition. Imported beer Various foreign beer brands are available on the Korean market, with interest rapidly increasing. Major brands such as Hoegaarden, Heineken, and Budweiser rank high in the Korean beer market. Due to the cost of malt, Korean beer makers have largely turned to using corn, rice, and tapioca for manufacturing. Korean beer's malt rate is about 7%. Comparatively, German beer's malt rate is 100% with Japanese beer being 66%. With the signing of the Free Trade Agreement (FTA) between Europe and Korea in 2014, the import of foreign beers has drastically increased. Microbreweries After revision of the liquor tax law in South Korea in 2014, a new brewery license for making small scale beer has been introduced. Soon after this deregulation, craft beer scene has sprung up in South Korea. Microbreweries in South Korea have expanded the mass not only in domestic market, but also in overseas market. It has been increasing the demand and supply of microbreweries and pubs. History South Korean beer has a reputation for blandness and low quality. North Korean beer, in contrast, tends not to be as light and is considered relatively good for Asian beer. The British business weekly The Economist caused an uproar in South Korea when it declared in 2012 that "brewing remains just about the only useful activity at which North Korea beats the South." The article and the success of North Korean microbreweries prompted the South Korean beer industry to reform, including changing the alcohol law to allow microbrewing, in 2014. List of microbreweries Praha 993: Czech Pub and Brewery located in Mangmi 2(i)-dong, Busan. Korea Craft Brewery: Located in Chungbuk. It has been ordered by Hitachino Nest. The Hand and Malt: Located in Namyangju. Owner of Korea's largest hops farm. Magpie Brewing Co.: Served on tap at three locations: Itaewon, Hongdae and Jeju. Galmegi Brewing Co.: American style brewery located in Seomyeon. The Booth: Located in Gyeongnidan. Began as a small pub in 2013. It produces 'Kukmin IPA', 'Dae-Dong Gang Pale Ale', 'Summer Zen Ale', 'Brewbro IPA' etc. It also serves a tap by 8 pubs in Seoul. Band of Brewers: pub and brewery in Seonreung. Gorilla Brewing: Located in Busan Gwangan-ri. Willow Brewery: Pub and brewery in Gangneung. It produces beers using hops cultivated by farmers in Gangneung. Stevens Brewing: Located in