After Work, Samgyeopsal and Soju Feel 'Burden'... An Era of Soju for '1000 Won' May Come

Soju Bottle Already 6,000 Won in Gwanghwamun and Gangnam Areas
Beer Prices Have Already 'Slightly Increased', Soju Prices Expected to Rise Soon

Following the increase in beer prices, the price hike of soju is also entering the final countdown, causing growing sighs among the common people as some establishments are charging over 6,000 won per bottle of soju.

As the countdown to the soju price increase begins, some stores are charging over 6,000 won per bottle of soju, deepening the sighs of ordinary people.
[Image source=Getty Images]

According to the liquor industry on the 24th, major beer products such as Cass and Hanmac will raise their factory shipment prices by an average of 6.9%. This is the first increase in 19 months since March last year. Soon, other liquor companies like HiteJinro and Lotte Chilsung Beverage are also expected to raise their product prices.

Liquor companies had considered raising shipment prices in April this year due to a 30.5 won increase in the beer-specific tax compared to the previous year, but postponed the hike at the government's request.

Is the Era of '1,000 Won Soju Shots' Coming?

Some expect that the price of soju will increase by at least 7%. In this case, the wholesale price of a 360ml bottle of soju, which was 1,166 won, will rise by 84 won to 1,250 won.
[Photo by Yonhap News]

The liquor industry is in the final stages of weighing the timing of the soju price increase following the beer price hike. Raising prices ahead of the year-end peak season could boost sales, but if delayed, the price hike might become uncertain due to the general election climate in April next year.

The soju price increase was anticipated early on. In April, Daehan Jujeong Sales, which sells ethanol (the raw material for soju) from 10 domestic manufacturers, raised the price of ethanol by an average of 9.8%. Consequently, the companies manufacturing soju bottles also increased their prices by about 22%, from 180 won to 220 won, starting in February.

Some expect the soju price to rise by at least 7%. In this case, the shipment price of a 360ml bottle of soju, which was 1,166 won, would increase by 84 won to 1,250 won.

The actual price felt by consumers will rise much more. Even if the manufacturer's shipment price increases by increments of 10 won, the prices at restaurants and eateries tend to jump by 1,000 won units in reality.

In fact, in restaurants in areas like Gwanghwamun and Gangnam in Seoul, soju is already sold at 5,000 to 6,000 won per bottle, and beer at 6,000 to 8,000 won. A glass of draft beer (500ml) costs 6,000 to 7,000 won for domestic brands and 8,000 to 9,000 won for imported ones. If the soju shipment price rises, the era of 7,000 won per bottle of soju is not far off.

Meanwhile, the Fair Trade Commission has launched an investigation into allegations that the liquor wholesale industry controlled soju and beer prices and engaged in 'market sharing' among distributors. The commission conducted on-site inspections of liquor wholesale associations in the metropolitan area regarding suspected price collusion of soju and beer. In particular, the Fair Trade Commission plans to closely examine whether there was collusion through prior coordination to set minimum supply prices or restrict competition for securing clients, thereby dividing clients among themselves.

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