Similar to council pop, it's just another slang expression for tap water. People who can't afford a bought drink, enjoy the fine delicacy of corporation wine fresh from their local water authority.

In short it is the drinking of tap water.
I have no money so im drinking corporation wine.
James-A-Wによって 2006年08月18日(金)

Words related to corporation wine

council pop drinking water tap water water water authority