U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Popeyes fried chicken chain is officially returning to South Korea next week after a 2-year hiatus. The American fast-food franchise is set to open new stores in the southern part of Seoul, and once in operation, business experts opined that competition among foreign restaurant brands could heat up.
According to The Korea Times, Silla deep sea fishery company inked a master franchise agreement with Restaurant Brands International (RBI), which owns the Popeyes fried chicken brand. The agreement was for bringing back the fast-food chain to the country.
The local franchisee pulled out its Popeyes business in December 2020 amid the sales decline brought about by the COVID-19 pandemic and other factors. Before the closure of stores, Popeyes Korea was operating almost 200 branches. When the pandemic hit, the competition in the dining market picked up, and the brand started to reduce the number of its store outlets until it finally decided to close all the locations.
Silla is confident that the re-launch of Popeyes in the country will be more successful this time. This is because the company can see high potential for the fried chicken brand to regain its popularity. Fried chicken is also a favorite snack, so the franchise could grow faster than anticipated.
"Chicken is one of the largest and fastest-growing categories in the Korean quick service restaurant sector. We will provide the taste of memories and Louisiana's unique menu to customers who miss Popeyes," an official at Silla company said in a statement.
But then again, some people in the fast-food sector said that Popeyes may have a hard time as many foreign brands have also opened their stores this year, such as Five Guys and Gordon Ramsay’s restaurant.
"It is not going to be easy for Popeyes to bring back the glory days it enjoyed in the early 2000s,” an official at a local food company explained. “There are too many global franchise restaurants that have opened their first stores in Seoul and some are already seeing losses."
Meanwhile, Korea Joongang Daily reported that the first Popeyes to open is located in Gangnam Station, Line 2. It will be launched on Dec. 16, and customers can enjoy the restaurant’s signature chicken sandwiches, biscuits and Cajun fries once again.
Photo by: Mike Mozart/Flickr (CC BY 2.0)
