HiteJinro to Raise Chamisul Wholesale Price by 7.9% Starting from the 23rd
[Asia Economy Reporter Koo Eun-mo] Hite Jinro will raise the ex-factory prices of its soju products for the first time in about three years.
On the 18th, Hite Jinro announced that starting from the 23rd, it will increase the ex-factory prices of Chamisul Fresh and Chamisul Original by 7.9%. The price hike applies to 360ml bottles and some PET containers.
Jinro will raise its ex-factory prices for the first time since its launch in 2019. The increase rate is the same 7.9% as Chamisul. Even after the increase, Jinro will maintain a lower price than Chamisul. However, Ilpoom Jinro was excluded from this price hike to promote the premium soju market.
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A Hite Jinro official explained, “Recently, the costs of raw materials, logistics, bottle handling fees, and manufacturing expenses have all risen sharply. We have been trying to absorb the increase through internal cost reduction and efficiency improvements.” He added, “Over the past three years, price increase factors exceeding 14% have occurred and persisted, but after thorough review, we decided on the increase rate to minimize the burden on consumers.”
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