"Starting Today, Prices of Chamisul and Terra Increase"

HiteJinro Announces Approximately 7% Increase in Wholesale Prices

From the 9th, the prices of some alcoholic beverages produced by HiteJinro, including Chamisul and Terra, will increase.

Earlier, HiteJinro announced on the 31st of last month that it would raise the ex-factory prices of its flagship soju brands, Chamisul Fresh and Chamisul Original, by 6.95%. The price increase applies to 360ml bottles and PET containers under 1.8 liters. Additionally, the ex-factory prices of beer products such as Terra and Kelly will also rise by an average of 6.8%.

This price hike was implemented due to rising costs of raw materials and logistics, including a 10.6% increase in the price of ethanol, the main ingredient in soju, and a 21.6% increase in the price of malt, as well as higher manufacturing expenses.

With HiteJinro raising prices for soju and beer, and OB Beer previously increasing the ex-factory prices of major beer products like Cass and Hanmac by an average of 6.9% last month, the prices of these alcoholic beverages sold in restaurants are likely to rise further. In some areas of Gangnam, soju and beer are already being sold for 7,000 won.

The Ministry of Economy and Finance is reportedly starting a liquor tax reform to reduce the prices of soju and whiskey in response to the increased inflationary pressure caused by the rise in alcohol prices.