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Diageo Korea, the local branch of the world’s largest distiller, is to raise the price of its whiskey products starting next month.
The price hike is expected to give a boost to its rivals, such as Pernod Ricard Korea and Lotte Chilsung Beverage.
Prices of Johnnie Walker, J&B Reserve and The Singleton will rise by an average of 5 percent from July 1, according to officials.
For Johnnie Walker Red, the diffusion label of the signature blended Scotch Whisky, factory prices of the 375 ml and 700 ml bottles are to go up by 5.02 percent to 13,079 won ($11.70) and 24,607 won, respectively.
The same price hike is to be applied to The Singleton, a single malt whiskey. The price of its 700 ml bottle of its 12-year edition will go up to 61,193 won and its 15-year edition to 83,160 won.
“Despite the constant rise in manufacturing costs, we have long restrained from increasing the price of our products, but recently faced challenges in procuring single malt liquor,” said an official.
By Bae Hyun-jung (tellme@heraldcorp.com)
