{"id":9716,"date":"2013-09-17T09:00:44","date_gmt":"2013-09-17T13:00:44","guid":{"rendered":"http:\/\/www.Centives.net\/S\/?p=9716"},"modified":"2013-09-17T07:37:09","modified_gmt":"2013-09-17T11:37:09","slug":"the-fried-chicken-financial-crisis","status":"publish","type":"post","link":"https:\/\/www.Centives.net\/S\/2013\/the-fried-chicken-financial-crisis\/","title":{"rendered":"The Fried Chicken Financial Crisis"},"content":{"rendered":"<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" src=\"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2013\/09\/091713_0551_TheFriedChi1.jpg\" width=\"639\" height=\"424\" \/><\/p>\n<p>South Korea is facing a potential financial crisis driven by\u2026fried chicken write Alex Frangos and Kwanwoon Jun:<\/p>\n<ul>\n<li>The number of fried chicken restaurants in South Korea has skyrocketed, having tripled over the past decade.<\/li>\n<li>This is in part due to South Korea&#8217;s retirement system where employees are often forced to retire in their 50s and have to supplement their small pensions by taking out loans to start small businesses.<\/li>\n<li>Fried chicken joints are the businesses of choice due to a surge in demand for the food in the country after the 2002 soccer World Cup.<\/li>\n<li>Now there are 12 restaurants per 1,000 people \u2013 six times as many as the United States.<\/li>\n<li>This is a problem because now there are so many restaurants the vast majority of them fail causing individuals to default on their loans.<\/li>\n<li>Loan defaults are hurting consumer spending and reducing bank lending \u2013 creating the conditions for a financial crisis.<\/li>\n<li>The South Korean government for its part is trying to mitigate the likelihood of this by banning fried chicken restaurants from opening within 800 meters of one another.<\/li>\n<\/ul>\n<p>Read more over <a href=\"http:\/\/online.wsj.com\/article\/SB10001424127887324549004579064990665622138.html?mod=e2tw\">here<\/a>.<\/p>\n<p>Source: <a href=\"http:\/\/online.wsj.com\/article\/SB10001424127887324549004579064990665622138.html?mod=e2tw\">The Wall Street Journal<\/a><\/p>\n<p>Via: <a href=\"http:\/\/qz.com\/124770\/south-korea-is-hoping-fried-chicken-will-help-solve-its-runaway-debt-problem\/\">Quartz<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Korea is facing a potential financial crisis driven by\u2026fried chicken write Alex Frangos and Kwanwoon Jun: The number of fried chicken restaurants in South Korea has skyrocketed, having tripled over the past decade. This is in part due to South Korea&#8217;s retirement system where employees are often forced to retire in their 50s and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9715,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-bulletin"],"jetpack_featured_media_url":"https:\/\/www.Centives.net\/S\/wp-content\/uploads\/2013\/09\/091713_0551_TheFriedChi1.jpg","_links":{"self":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/9716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/comments?post=9716"}],"version-history":[{"count":3,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/9716\/revisions"}],"predecessor-version":[{"id":9719,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/9716\/revisions\/9719"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media\/9715"}],"wp:attachment":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media?parent=9716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/categories?post=9716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/tags?post=9716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}