SEOUL – OB Beer, South Korea's leading brewer, has announced that it will increase the factory release prices of its major beer products by an average of 2.9% starting April 1, 2025. The decision comes as the company faces mounting pressure from rising costs of raw and subsidiary materials, exacerbated by prolonged high exchange rates and elevated oil prices.

The price adjustment, announced on March 21, marks the first increase in 18 months, following a 6.9% hike in October 2023. However, consumers will be relieved to know that the price of the popular Cass 500ml can, a staple in supermarkets, will remain unchanged. Additionally, OB Beer will continue to offer bulk discount sales for large-capacity products.

"The prolonged situation of high exchange rates and high oil prices has significantly increased the cost burden of various raw and subsidiary materials, most of which are imported," an OB Beer official stated. "We have minimized the rate of increase, considering the overall domestic situation and the burden on consumers."

While OB Beer's move may trigger a domino effect among its competitors, HiteJinro and Lotte Chilsung Beverage have both indicated that they currently have no plans to raise prices. However, Lotte Asahi Liquor has already implemented a price increase for Asahi beer.

It is worth noting that OB Beer had previously raised the prices of six imported beer brands, including Budweiser and Hoegaarden, in November 2024.

[ⓒ Global Economic Times. 무단전재-재배포 금지]