Seoul Dairy to raise price of milk products

Seoul Dairy Cooperative Thursday announced plans to raise the price of its milk products by 220 won per liter, citing an increase in the price of raw milk they buy from producers.

The company said that beginning Friday, its milk price will be hiked from 2,300 won to 2,520 won per liter.

Other dairy firms, such as Maeil Dairy Industry and Namyang Dairy Products, are expected to follow suit, industry sources said.

A Namyang official said, "(We) will make a decision on whether to raise the price of our milk products after watching other diary companies' moves. But, we will finally have to raise it in consideration of price hikes and increased labor and logistics costs."

Park Sae-jin swatchsjp@ajunews.com