Lockdown Boosts Fried-Chicken Deliveries

  • By Byun Hee-won

    February 17, 2021 13:38

    Sales of fried chicken has soared thanks to deliveries in lockdown.

    Korea's three biggest fried-chicken franchises posted record earnings last year. Kyochon and bhc on Tuesday said their sales exceeded the W400 billion milestone for the first time (US$1=W1,103).

    Kyochon racked up sales of W447.6 billion and an operating profit of W41 billion, up 18 percent and 4 percent from a year earlier. bhc's sales rose 25 percent to W400 billion.

    BBQ posted W350 billion in sales, up more than 40 percent from 2019.

    The jump in the sales is due to increasing demand for home deliveries.

    Some W17.38 trillion worth of food was delivered last year, up 78.6 percent on-year, according to Statistics Korea.

    That also meant that the closure rate of individual fried-chicken outlets dropped drastically. Only one of Kyochon's 1,269 nationwide outlets shut down last year. The overall rate of permanent closures among the top 3 is estimated at a mere one percent.

    According to the Korea Fair Trade Commission, chicken franchises are the most ubiquitous food franchises in the country with some 25,000 outlets, but until COVID-19 they also had the highest closure rate at 10.6 percent. 

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