The pitch is slated for 9 August and is expected to include Grey Worldwide and a local boutique agency.
Diageo roster agencies Innocean and TBWA are understood to have been invited to the review but are not participating. Grey was unable to provide comment on the development.
A source close to the account estimated it to be worth around US$1 million in billings. Diageo divides its Korean accounts predominantly between Innocean, Grey and TBWA, with Innocean handling Windsor, TBWA Guinness, and Grey trade channel duties for spirits brands.
Johnnie Walker Black Label is among the most popular whiskies in the Korean market, which is the world's sixth-largest for UK exports of Scotch whisky in terms of value. Last year's free trade agreement with the European Union has led to a gradual phasing out of the 20 per cent tax on imported spirits.