"Powerade Price Increase..." LG Household & Health Care Raises Prices of 4 Beverage Types by an Average of 6.1%

Photo of Powerade product. Photo by LG Household & Health Care

[Asia Economy Reporter Song Seung-yoon] LG Household & Health Care announced on the 30th that it will raise the prices of beverage products from four brands, including Powerade, starting from the 1st of next month.

LG Household & Health Care decided to increase the supply prices of products from four brands?Minute Maid, Powerade, Toreta, and Monsta?by 6.1% starting from the 1st of next month. Coca-Cola was excluded from this price increase.

An LG Household & Health Care official stated, "Due to global inflation and exchange rates, the prices of major raw materials and components have been continuously rising. Accordingly, we have been forced to raise the prices of some products, focusing on minimizing the number of items subject to price adjustments."

Lotte Chilsung Beverage also plans to raise the prices of 10 beverage brands, including commercial-use Chilsung Cider and Pepsi Cola, by an average of 4% starting from the same day. Prices of Del Monte, Jeju Gamgyul, Cantata, Lets Be, Icis, Evian, and Volvic will also increase.