diff --git a/docs/release_notes/v0.7.1.md b/docs/release_notes/v0.7.1.md
new file mode 100644
index 0000000..a85a3d4
--- /dev/null
+++ b/docs/release_notes/v0.7.1.md
@@ -0,0 +1,3 @@
+# Release 0.7.1
+
+Increase memory for deployment resource.
diff --git a/pkg/version/release.go b/pkg/version/release.go
index 541fad7..20618ad 100644
--- a/pkg/version/release.go
+++ b/pkg/version/release.go
@@ -5,7 +5,7 @@
 package version
 
 // ReleaseVersion is the version number in semver format "vX.Y.Z", prefixed with "v".
-var ReleaseVersion = "v0.7.0"
+var ReleaseVersion = "v0.7.1"
 
 // ReleaseCandidate is the release candidate ID in format "rc.X", which will be appended to the release version.
 var ReleaseCandidate = "rc.1"