Red Bull is set to drop its price in South Korea

Red Bull is set to drop its price in South Korea

Red Bull is to drop its retail price in South Korea by 35%, according to a local report.

A can of Red Bull will drop from KRW2,900 (US$2.67) to KRW1,900, the Korea IT Times said today (28 January). The change comes after Red Bull lost its leading market share to Lotte Chilsung's Hot Six, which costs KRW1,000, the report said.

In the US, a can of 25cl Red Bull costs $2.69 from online retailer Netgrocer, while its Total Zero 25cl can, launched last year, has an SRP of $2.19.

Red Bull entered the South Korean market in 2011 and is distributed by Dongsuh Food, the report said. 

In the US, energy drinks companies are facing closer scrutiny from lawmakers. Earlier this month, two senators wrote to 14 companies, including Red Bull, asking for details of product ingredients and company investigations into health risks to children.