This week's DECODED X
[THE INVESTOR] The July 20 issue of The Investor's blockbluster newsletter DECODED X is out. Check out some of the highlights.
AND THE BOAT GOES TO THE MOUNTAINS…
There’s a saying, kind of, that Korea is a country where everyone is a political expert.
Young and old, people have a view on every piece of political news, and everyone likes to share their opinions.
In fact, everyone is an opinion leader when it comes to politics.
I’m sure the same can be said for other countries as well, but it does feel a bit more suffocating, probably because we’re such a tiny country stuffed with people who love to chat, argue and discuss.
These days, much of this is done online, and the attention to news is such that Korean media, despite that they write in KOREAN, rank pretty much within the top in global traffic rankings.
Now there’s another saying that too many boatmen will row the boat to the mountains. Yes, that’s the same as too many cooks will spoil the broth.
Now that the president has pretty much done his job choosing key Cabinet members, let’s all take a breather, shall we?
It’s summer everyone, and it’s way too hot to get all worked up.
Take a break from politics, the economy and enjoy some time off with this week’s DECODED X.
EXCUSE ME, YOU DIDN’T PAY INTEREST
[Kyochon Chicken faces flak for abusing franchisee]
The gap strikes again.
In Korean, "gap" is pronounced to mean someone who has the upper hand in a situation. Someone who must be pleased.
This time, the gap is Kyocho Chicken. Apparently, it put in clauses in a contract with a Chinese franchisee forcing it to pay steep interests of nearly 4,000 percent a year for payment in arrears. 4,000 percent. What is Kyochon, a loan shark?
As a tidbit, despite its popularity at home, Kyocho has not made much waves abroad. In Japan, its first store in Roppongi was shut down last year. Food wasn't great and services were bad; not a good combination at all.
[A CEO who pedals to work]
A CEO who commutes on a bike is still not too common in Korea, despite the promotion about fighting pollution and saving gas.
But there is one man who is bucking the trend by riding to and from work, and that's Lee Su-jin, founder of Yanolja.
Yanolja, meaning "Let's play," in Korean, is a start-up but it's really more than a start-up given the multibillion size investments it's been gathering from both Korea and overseas.
It's basically an app offering all sorts of accommodations from motels to hotels, PLUS discounts. It also has a new service connecting people to Korean-run lodgings for travelers craving for Korean food and hospitality.
Lee used to own a number of imported cars, but these days, it's either the subway or his bike.
►Click here for DECODED X July 20
DECODED X July 13
DECODED X July 6
DECODED X June 30
DECODED X June 22
DECODED X June 12
DECODED X June 5
DECODED X May 29
DECODED X May 22
DECODED X May 15
DECODED X May 10 Special Edition
Subscription inquiries: firstname.lastname@example.org (Monica Lee)
Editor-in-chief: email@example.com (Jemmie Kim)