Following OB Beer, Hite Jinro Also... 1.36% Price Increase Starting May 7

[Asia Economy Reporter Seungjin Lee] Following OB Beer, HiteJinro will also raise beer prices starting from the 7th of next month. This is the first price increase in 4 years and 5 months, reflecting the recent tax hike.

On the 27th, HiteJinro announced that it will raise the prices of some beer products starting from the 7th of next month. This follows a 0.5% increase in the liquor tax on beer since March, in line with the inflation rate. It is the first price increase since December 2016, after 4 years and 5 months.

The prices of 330ml bottled products and PET bottles, as well as draft beer from brands such as Hite Beer and Terra, will increase by 1.36%. Prices for canned products, which are popular for home consumption, and 500ml bottled products, commonly consumed in regular restaurants, will remain unchanged.

To minimize market confusion and consumer impact from the price adjustment, representative products for the home market have been excluded from the price increase.

A HiteJinro official explained, "Although there are various factors causing price increases such as inflation beyond the tax hike and rising raw material costs, we have minimized the price increase as much as possible."

Earlier, OB Beer, which holds the number one market share in beer, raised prices by 1.36% starting from the 1st of this month, reflecting the tax increase. This affected 330ml bottles and draft beer (20ℓ kegs) of products such as Cass Fresh, Cass Light, OB Lager, and Capri, as well as PET bottles of 1ℓ and 1.6ℓ.

Lotte Chilsung Beverage, which owns Cloud beer and others, stated that it has no plans to raise prices.

This content was produced with the assistance of AI translation services.