Convenience stores partially restore beer and soju prices

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Convenience stores partially restore beer and soju prices

Published: 31 Jan. 2017, 20:03

After facing public backlash for raising soju and beer prices by as much as 100 won (8 cents) earlier in January, convenience stores decided to bring prices back down by up to 60 won starting on Jan. 25.

The initial price increase came after the Ministry of Environment decided to raise empty bottle deposits from 40 won to 100 won for soju and 50 won to 130 won for beer at the start of the year. Convenience stores raised soju and beer prices in tandem with the bottle deposit increase but faced rancor from the public and decided to moderate the increase.

At 7-Eleven, a bottle of soju will now cost 1,660 won, down from 1,700 won, and a bottle of beer will go from 2,000 won to 1,980 won. CU lowered the price of soju from 1,700 won to 1,650 won but has done nothing to beer prices. GS25 has yet to make a decision.

Some Korean restaurants, too, were swift in raising the price of soju and beer to as high as 5,000 won, but they have not made a decision about lowering it any time soon. Price increases were not as widespread in restaurants after the ministry said it would scrutinize such moves.