What do they all have in common? According to today’s Bloomberg, consumption of all of these are going up as Korea’s overall economy goes down. I covered this a little in an earlier post, but the Bloomberg article is worth mentioning because it’s got a lot of juicy details.
Per the article, turns out that many Koreans won’t be getting a Christmas bonus this year and the 12-year-old Chivas Regal whiskey they glupped down with glee in 2007 won’t be in the cards this time around. The old standby? The local gut rot moonshine (a.k.a. soju) and reminiscing with friends at the neighborhood mom & pop samgyopsal jip.
Koreans do drink a lot, but fear not, it appears Aussies drink even more:
South Koreans, Asia’s second-biggest alcohol consumers after Australians, bought 2.5 billion bottles of soju in the first nine months of this year, up 5.1 percent from a year earlier, according to the Korea Alcohol & Liquor Industry Association. That’s about six bottles a month for each person of drinking age.
Eh, that’s only 1.5 bottles a week! Somehow I thought it would be more like 17. Anyhow, even instant ramyeon sales are up too.
The economic woes are helping sales of instant noodles called “ramyeon,” which typically cost about 68 cents a pot. Sales rose 38 percent in October compared with the same period last year, according to the 24-hour convenience store chain FamilyMart. Shares of Nong Shim, which makes the nation’s best-selling brand of ramyeon, gained 17 percent in the past month
Well, I guess some stocks can do well even in this down economy.
{ 10 comments… read them below or add one }
“South Koreans, Asia’s second-biggest alcohol consumers after Australians”
i can’t believe we are second fiddle to the Aussies. I am ashamed. I mean that honestly.
I’ll have to do my part when I visit next time.
Couldn’t happen to nicer people.
Ramyeon is junk food. Eating a lot of that will lead to bad health later on in life, If the Korean Government can encourage people to eat older-style Korean food that is healthier, it can help save money and lives, in time. That might sound like a simplistic, small idea but, if one considers the accumulated health cost from all that bad eating, it would undoubtedly be quite expensive.
The American example of eating a lot of fast food and the long-term health consequences now experienced by many Americans (obesity, diabetes, etc.) should be a good example of what can happen.
I’m wondering whether TGIF-ing during a business slowdown means I can start popping brewskis at noon?
“i can’t believe we are second fiddle to the Aussies. I am ashamed. I mean that honestly.”
Particularly so when, since Australia isn’t in Asia, it must be a handful of aussie expats beating the whole of korea!!!
“South Koreans, Asia’s second-biggest alcohol consumers after Australians,…”
Out of curiosity, when did Australia become part of Asia?
Maybe the geography classes teach something different here, but I recall Australia being the world’s largest island, and the smallest continent.
Is it because of the A-PAC trade region includes Australia that it is seen as an Asian country by member states?
“Out of curiosity, when did Australia become part of Asia?”
Recently Australia joined the Asian Football Confederation.
So who are you, oh mortal, to question the Will of FIFA?
Virtual –
Israel sings in the Eurovision song contest, doesn’t change its geography and make it part of Europe.
The move to the Asian Football Confederation is similarly a pragmatic/economic move to improve their chances of qualifying for the world cup.
Wow I’m glad to see that we rank as Number One Alchoholics in Asia. I wonder what the Aussie’s drink? I don’t know if the people in Korea are eating more Ramyeon but we sure do eat a lot of it. I think I’ll actually make myself one tonight.
# 5,
Good point. Isn’t Australia its own continent?
Thus… Korea… numba one alchies in all of ASIA.
Phighting!
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