Iran-Israel War Sparks Global Oil Crisis as Tankers Burn in Gulf Waters 
China Escalates BHP Iron Ore Ban Amid Contract Dispute 
Amazon Moves Prime Day to June: What It Means for Shoppers and the Market 
Global EV Sales Slump in February as China Records Steepest Decline Since COVID-19 
Asian Currencies Tumble as Indian Rupee Hits Record Low Amid Oil Market Turmoil 
Asian Markets Slide as U.S.-Israel-Iran Conflict Stokes Inflation Fears 
Gold Prices Slip as U.S.-Israel-Iran War Fuels Dollar and Oil Demand 
Cuba-U.S. Talks Begin Amid Deepening Energy Crisis 
Dollar Surges to Three-Month High Amid Iran War Crisis and Energy Shock 
U.S. Stock Futures Rise Amid Middle East Tensions and Fed Meeting Ahead 
Iran-U.S. War Escalates: Strait of Hormuz Shipping Under Threat 
U.S. Stocks Slide as Iran War Fuels Oil Price Volatility and Market Uncertainty 
Oil Prices Retreat as U.S.-Iran Conflict Disrupts Global Energy Markets 
Anduril's $20B Army Contract Signals Major Tailwind for Palantir 
UK Housing Market Slows Amid Geopolitical Tensions and Mortgage Rate Fears 
Iran War Sends Oil Prices Surging Past $100 as Hormuz Crisis Deepens 
Telus Corp. Confirms Cybersecurity Breach Amid Extortion Threat 
Stock prices of chicken and beer in South Korea reportedly plummeted the day after the game match between Ghana and the Korean national team in the 2022 FIFA World Cup, which is being held in Qatar.
As per The Korea Times, the drop in chicken and beer stock prices was blamed on the disappointing defeat of Team Korea’s soccer squad in a match with Ghana on Monday, Nov. 28. On Tuesday’s trading session, prices of the said goods plunged, and this was said to be partly due to concerns that the people’s fervor in supporting the country’s soccer team has grown weary.
Typically, during the World Cup, Koreans gather together with their families and friends to watch the game, and having chimaek has become a-must on occasions like this. This is why world soccer matches are one of the busiest days for convenience stores and chicken franchises. Chimaek in Korea is a combined term for chicken and maekju which is beer in English.
In any case, the stock price of Jeju Beer dropped by 9.92% at Tuesday's close. Kyochon chicken franchise also saw its stock price plunging by 5.38% the day after Team Korea lost to Ghana. Companies that breed, process and distribute chicken also experienced a decline.
Prior to the drop in chicken and beer stock prices in the country, Korea Joongang Daily reported that these items were selling like hotcakes on the day of the game between South Korea and Ghana at the 2022 FIFA World Cup. Koreans ordered chicken and beer as they gulped down the alcoholic drink while cheering for their home team on screen.
On Nov. 28, sales of beer at 7-Eleven shot up by 150% compared to its sales on Nov. 14. At the GS25 convenience store, its beer sales increased by 183%, while fried chicken sales went up by 120%. Other local convenience stores, including CU and Emart24, also reported boosted sales of beer by 229% and 132%, respectively, while the former’s sales of chicken also rose by more than 55%.
Fried chicken franchises in the country also enjoyed a huge surge in orders. Genesis BBQ showed a 220% increase on Monday while Kyochon recorded a 160% rise, while BHC Chicken’s sales jumped 297%.
Photo by: Cristine Enero/Unsplash
