Seoul: Hitejinro Co., South Korea's leading beverage company, has announced plans to raise the prices of its flagship beer products later this month to offset higher raw material costs. The price adjustment will affect the retail prices of Hitejinro's mainstay beers, including Hite, Terra, and Kelly, which will see an average increase of 2.7 percent starting May 28.

According to Yonhap News Agency, the company stated in a press release that the price hike has become unavoidable due to the impact of a weaker won, which has escalated costs associated with raw materials, logistics, and manufacturing. The company previously adjusted its product prices in November 2023.

In a move to mitigate the financial impact on consumers, Hitejinro has decided that 500-milliliter canned beers and low-malt FiLite products will not be affected by the planned price increase.