Coca-Cola Beverage will raise the factory prices of some items, including Coca-Cola, Sprite and Fanta, supplied to convenience stores by 100 to 300 won starting on the 1st of next month.
According to the retail industry on the 21st, Coca-Cola Beverage recently sent a notice to the convenience store channel that, effective Aug. 1, it will raise the consumer retail prices of 52 beverages including Coca-Cola.
The overall increase averages 7.2%. For Coca-Cola products, it will be the first price increase in about two years since Sept. 2024.
Based on convenience store consumer prices, representative items will rise as follows: Coca-Cola 350ml can 2,100 won→2,200 won (4.8%), Coca-Cola Zero 350ml can 2,100 won→2,200 won (4.8%), Sprite 350ml can 1,900 won→2,000 won (5.3%), Fanta 350ml can 1,700 won→1,800 won (5.9%), Powerade 600ml PET 2,400 won→2,600 won (8.3%), Powerade 1.5L PET 3,500→3,800 won (8.6%).
A Coca-Cola Beverage official said, "Rising international oil prices and exchange rates due to the Middle East war, and higher costs for raw and subsidiary materials such as aluminum and packaging are increasing cost pressures," and added, "To minimize the burden on consumer prices, we minimized the rate and range of increases through consultations with the relevant ministries."
Earlier, competitor Lotte Chilsung Beverage in the carbonated drink industry raised the factory prices of 44 items across 12 brands, including Chilsung Cider, by an average of 5.3% starting on the 26th of last month. Lotte Chilsung also cited exchange-rate instability stemming from the Middle East war and accumulated cost pressures as reasons for the increase.