Lotte Chilsung Beverage Raises Cloud Beer Price by 8.2%

[Asia Economy Reporter Tae-min Ryu] Lotte Chilsung Beverage announced on the 21st that the ex-factory price of its beer 'Cloud' will increase by an average of 8.2% starting from the 25th.

The ex-factory price of one keg (20ℓ) of Cloud Original Draft Beer will rise 9.3% from the previous 32,000 KRW to 34,980 KRW. The ex-factory price for 20 cans of 500㎖ will increase 10.2% from 26,160 KRW to 28,820 KRW.

The ex-factory price of Cloud Draft will increase 13.2% from 29,058 KRW to 32,890 KRW per keg (20ℓ). This is the first price increase for Cloud Draft since its launch in 2020.

Previously, when the beer taxation system changed from the ad valorem tax to the specific tax in January 2020, Lotte Chilsung Beverage lowered the ex-factory price of Cloud canned beer 500㎖ from 1,880 KRW to 1,565 KRW.

A Lotte Chilsung Beverage official explained, "This is the first beer price increase in three years since July 2019," adding, "The burden of manufacturing costs has increased due to factors such as the liquor tax hike, raw material prices, logistics costs, labor costs, and exchange rates."

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