Convenience stores to raise prices of imported canned beer bundles in July

[Photo by Yonhap]

South Korea is bracing for an increase in the prices of imported packaged canned beer available at convenient stores, following the upward trajectory of dessert products like coffee and ice cream. With the arrival of the summer season and the surge in demand for popular treats, the rising costs of imported beer packages are expected to impose a greater burden on consumers.

According to sources on Tuesday, prices of imported canned beer packages at convenience stores will rise by 9.1 percent to 12,000 won ($9.2) from 11,000 won, commencing on July 1. This price adjustment encompasses a total of 13 beer varieties, including popular choices like Heineken, Edelweiss, Desperados and Apple Fox.

This price adjustment is due to a supply price increase from an imported beer supplier and applies to bundled offers across all distribution channels, including convenience stores.

“We have been forced to increase our product prices due to continued increases in raw material prices and logistics costs in Europe, as well as unstable exchange rates,” said an official from a beer importer.

In addition, 11 canned beers with a capacity of 440 to 550 mL, including Guinness Draft, Asahi, Snow Beer, Miller Genuine Draft, and Coors Light, have already been unified into a single price of 4,500 won, with individual item prices increasing by 100 to 700 won from June 1.

Furthermore, as of the first day of the upcoming month, consumers can anticipate maximum price increments of up to 25 percent for various beverages, ice cream, snacks, and select canned food items sold in convenience stores. Manufacturers have made the decision to adjust supply prices in response to rising costs associated with raw materials.