According to sources, the nation of South Korea is speculated to have eaten a total of ₩7.47 trillion KRW, which is the rough equivalent of a whopping $6.8 billion USD, worth of fried chicken by the end of this year. Euromonitor, a marketing research firm made an announcement of the projections for South Korea’s famous fried chicken industry that has seen a spoke over the course of the pandemic due to the country’s already created delivery services.
When compared to the numbers from 2016, fried chicken sales have jumped by a total of 53% in 2020 with leading corporations such as bhc, Genesis BBQ & Kyochon Chicken projected to set their biggest sales numbers in their respective histories. bhc is expected to rake in a total of ₩400 billion KRW, roughly $368 million USD, Genesis BBQ is set to bring in a total of ₩350 billion KRW, roughly $322 million USD, while Kyochon is projected to bring in a total of ₩400 billion KRW, roughly $395 million USD, which breaks into Korea’s “400 Billion Won Club.”
Due to its jump in sales, the parent company of Kyochon Chicken, Kyochon F&B became the 1st fried chicken franchise to gain an Initial Public Offering (IPO) on Korea’s main bourse Kospi, while the franchise operator, bhc co., located an international investment with the Canadian Pension Plan Investment Board (BPPIB), which is the largest pension fund in Canada having announced its plans to invest a total of ₩300 billion KRW, roughly $275 million USD
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