S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Pelosi Discloses Major Intel and Uber Call Option Purchases Worth Up to $6 Million 
Meta Reportedly Developing ‘Arena’ Prediction Market App to Rival Polymarket and Kalshi 
Australia Inflation Cools in May, But Core CPI Keeps RBA Rate Hike Risks Alive 
Oil Prices Slip as Iran Sanctions Relief and Hormuz Shipping Recovery Ease Supply Concerns 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Kioxia Targets U.S. Listing as AI Chip Boom Accelerates 
OpenAI May Delay IPO to 2027 Amid $1 Trillion Valuation Goal 
US Dollar Climbs to One-Year High as Fed Rate Hike Expectations Surge 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
WiseTech Global Denies Knowledge of Investigation Into Founder Richard White 
KPMG Australia Chairman and Senior Partners Exit Amid Escalating Whistleblower Scandal 
Cerebras Revenue Forecast Tops Expectations, but Margin Concerns Weigh on Stock 
Johns Hopkins University Lays Off 110 Employees as Federal Research Funding Declines 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Trump Orders DOJ Investigation Into Exxon, Chevron Over High Gas Prices 
Chicken franchises in S. Korea reportedly recorded very high sales last year. Major chicken restaurant franchises were said to have increased because the public has relied more on food delivery since the lockdown prohibited people from going out.
Chicken restaurant earnings ballooned amid the crisis
As per Yonhap News Agency, business data in the chicken franchise trade showed surprising results, and it was able to pinpoint which restaurants have done so well and experienced big jumps in their sales.
Based on the report, Kyochon, one of South Korea’s most popular chicken outlets and biggest franchise, revealed a 17.8% increase to KRW447.6 billion or $386 million. It placed first in the list in terms of profits in 2020, followed by BHC that made it to no. 2 with its 25.7% jump to KRW400.4 billion sales.
It was said that this is the first time that chicken sales in the local market have exceeded the KRW400 billion mark. No. 3 in the list is BBQ chicken that showed a 32.1% surge, and it also displayed better performance in 2020.
Market insiders predicted that chicken franchises will continue to do better in the trade. This is because the end of the coronavirus outbreak is still nowhere in sight. Plus, there is a reported increase in the number of people living alone, so the orders for chicken will go up for sure.
BHC surpassed profit expectations
As mentioned earlier, BHC Co. is one of the major chicken brands that have profited greatly in 2020. With its more than KRW400 billion sales and placing second in South Korea’s best chicken franchise, the brand has become a serious competitor in the fried chicken market in the country.
The Korea Herald reported that this is the first time that BHC Chicken experienced this big surge in its sales. It is even more surprising that it has reached over KRW400 billion in sales in just a year. Now, with the impressive sales results, it has finally beat its rival Genesis BBQ.
“We were able to achieve the result by concentrating our core capabilities in improving product quality while consistently pursuing a professional management system,” BHC’s chief executive officer, Im Geum Ok, said. “For transparency and mutual benefits in governance.”
