Diageo in South Korean ‘price hike’

Diageo plans to raise the price of its whiskies in South Korea by around 5% due to “challenges in procuring single malt liquor”, according to reports.

Prices for Johnnie Walker, J&B Reserve and The
Singleton will rise by an average of 5% (Photo: db)

Prices of Johnnie Walker, J&B Reserve and The Singleton will rise by an average of 5% according to a report by The Korea Herald.

Factory prices of Johnnie Walker Red in 375ml and 700ml bottles are expected to rise by 5.02% to 13,079 Won (£7.50) and 24,607 Won (£14) respectively, while the price of The Singleton, a single malt whisky, will rise to 61,193 Won (£35) for a 700ml bottle of its 12 Year Old edition, and 83,160 Won (£48) for its 15 Year Old edition.

“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,” a Diageo official is quoted as saying.

Earlier this year, Diageo settled a six-year court battle over accusations of Scotch whisky tax evasion in South Korea.