Hallasan Soju, Price Increase After 3 Years... 8% Up

[Asia Economy Reporter Koo Eun-mo] The price of 'Hallasan Soju,' a local soju from Jeju Island, is set to increase.

Hallasan Soju announced on the 24th that it will raise the ex-factory prices of major products such as 'Hallasan 21' and 'Hallasan Soonhan 17' starting from the 3rd of next month.

With this price increase, the price of ‘Hallasan Soonhan 17 (360㎖)’ will rise by 8% from 1,081 won to 1,168 won per bottle, and ‘Hallasan 21 (360㎖)’ will increase by 8.3% from 1,186 won to 1,285 won. This is the first price hike for Hallasan Soju in three years since 2019.

Recently, the rise in the price of ethanol and bottle caps has been a decisive factor in the increase of soju prices. Earlier, Daehan Ethanol Sales raised the price of ethanol by an average of 7.8% starting from the 4th. This is the first price increase in 10 years since 2012. Daehan Ethanol Sales, which supplies ethanol to soju manufacturers, is a dedicated sales company established with equity participation from 10 domestic ethanol manufacturers, including Jinro Fermentation. Taxed ethanol prices increased by 7.6%, from 363,743 won to 391,527 won per drum (200L). For untaxed and duty-free ethanol, prices rose by 7.9%, from 351,203 won to 378,987 won.

The price of bottle caps has also increased. Bottle cap manufacturers such as Samhwa Crown and Sewang Metal Industry raised the price of soju bottle caps by an average of 16% starting from the 1st. Additionally, factors such as increases in empty container deposits and handling fees have added to the cost burden, making manufacturing costs significantly heavier for companies.

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