SEOUL – Asahi Beer, a popular Japanese beer brand in South Korea, will raise prices by up to 20% starting next month, according to Lotte Asahi Liquor, the company that distributes Asahi beer in Korea.

The price of a 500ml can of Asahi Super Dry will increase from 4,500 won to 4,900 won, while the price of a 350ml can will rise from 3,500 won to 4,000 won. The price of a 340ml can of Asahi Super Dry Draft will increase from 4,500 won to 4,900 won, and the price of a 640ml bottle of Asahi Super Dry will jump from 4,500 won to 5,400 won.

This is the second price hike for imported beers in Korea in recent months. In November, OB Beer, the country's largest brewer, raised prices on six imported beer brands, including Budweiser, Hoegaarden, Stella Artois, and Suntory, by an average of 8%.

According to Statistics Korea, the consumer price index for beer in January was the highest ever recorded, at 112.97 (based on 2020=100), up 0.46% from the same month last year.

The price increases are likely to put further pressure on consumers, who are already grappling with high inflation.