Economics
Inflation Triggers Fried-Chicken Price War in South Korea
- Large supermarket chain slashed chicken prices by two-thirds
- Hefty discount puts pressure on legacy brands to lower costs
Whether prepared in pepper sauce or braised in soy, chicken plays a key role in South Korean cuisine.
Photographer: Carl Court/Getty Images
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In South Korea, where the highest inflation in years is causing chicken prices to rise, one grocery store is cutting costs.
Homeplus, the nation’s second-largest retailer, has slashed prices for fried chicken by as much as two-thirds to cash in on consumer angst. Demand has surged. Koreans have left no stone unturned in looking for ways to save on food. That includes standing in hours-long queues to buy discounted poultry.