diff --git a/internal/resources/resources.go b/internal/resources/resources.go
index 8e11f0b1..b112ff03 100644
--- a/internal/resources/resources.go
+++ b/internal/resources/resources.go
@@ -39,7 +39,7 @@ const (
 	//
 	// When changing this to a new minor version, you must also update
 	// the .prow.yaml accordingly and shift the jobs.
-	ImageTag = "v0.31.2"
+	ImageTag = "v0.32.0"
 
 	appNameLabel      = "app.kubernetes.io/name"
 	appInstanceLabel  = "app.kubernetes.io/instance"
diff --git a/internal/resources/resources_test.go b/internal/resources/resources_test.go
index 064f3b99..01d2d36c 100644
--- a/internal/resources/resources_test.go
+++ b/internal/resources/resources_test.go
@@ -34,8 +34,8 @@ func TestGetImageSettings(t *testing.T) {
 		{
 			name:            "default settings",
 			imageSpec:       nil,
-			expectedImage:   "ghcr.io/kcp-dev/kcp:v0.31.2",
-			expectedVersion: "0.31",
+			expectedImage:   "ghcr.io/kcp-dev/kcp:v0.32.0",
+			expectedVersion: "0.32",
 		},
 		{
 			name: "custom tag with valid semver",