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View of Hite Jinro Headquarters (Photo = Hite Jinro) |
[Alpha Biz= Kim Jisun] Hite Jinro announced on Wednesday that it has raised prices on more than 200 of its 800 imported wine and champagne products.
The company has kept the prices of around 400 products unchanged and even reduced prices on certain items. The average price increase across the affected products is about 1.9%.
Notable price increases include some items from the Taittinger and Silver Oak brands.
A Hite Jinro spokesperson explained, "Since the wines are imported and distributed by Hite Jinro, the prices are influenced by factors such as the supplier's production conditions, pricing decisions, and exchange rates." The company stated that price adjustments were necessary due to the impact of local wine producers' conditions.
Shinsegae L&B and Ayung FBC are also considering raising prices on some wines due to factors such as exchange rates and increases in the prices of imported products.
Meanwhile, Lotte Chilsung Beverage stated that it is not considering a price increase for its wine products.
Earlier, Asahi Beer, distributed by Lotte Asahi Liquor, raised its prices by up to 20% on the 1st of this month.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
