South Korean liquor giant Hite Jinro announced on the 18th that it will raise the shipping price of its main product "Chamisul" and other soju by 7.9% starting from the 23rd. This is the first soju price increase by the company in about three years. The rise in food prices is now extending to soju, the "national liquor" of Korea.

Hite Jinro will increase the shipping price of some of its 360ml bottle and PET bottle products of soju "Chamisul Fresh" and "Chamisul Original" by 7.9%. The soju "JINRO" will also see a 7.9% increase, except for premium products.

A company official explained, "Following the rise in raw material prices, logistics costs, and empty bottle collection fees, we made a comprehensive review and decided on the increase rate while minimizing the burden on consumers."

Lotte Chilsung Beverage, which manufactures and sells the soju "Chum Churum," also stated, "It is true that there are factors driving up soju prices." However, they added that it is currently still under consideration. OB Beer, the largest beer producer, also indicated strong pressure for price increases.

In Korea, the food service industry first began raising prices at the end of last year, citing rising costs of raw materials and transportation.

Article Source: ⓒYONHAPNEWS

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