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Drinking, Golfing, Betting, and Betting on Drunken Golf

Hi everybody!

So last time I told you that today I'd examine some of the cultural trends I noticed so far in Korea. Most of these are pretty apparent to the naked eye just from walking around Seoul. Some of them also require a decent amount of research to capitalize on.

Today I'll tell you about some of the ones Ive noticed. When the full report comes out next week, I'll have specific companies that we can use to profit from them.

So where to begin? It seems like there are two main preoccupations outside of work for the average Korean. These are the two main leisure activities around here: drinking and sporting. OK, now that wont sound too far off anywhere in the world. But there are specific modes that are prevalent in Korea for these two outlets.

Drinking is serious business here. This is a drinking society, where the amount of soju (local liquor, like sour vodka) consumed weekly is equivalent to five litres for every man, woman and child in the country. Business meetings often involve getting college-age drunk. Aside from local drinks like soju, the main foreign drinks around here are whisky and scotch.

Second, I mentioned recreation and sporting. There is plenty of individual sporting activity around here; travel the city and youll see plenty of people rollerblading, cycling and playing soccer. There is a good deal of viewership for baseball, European soccer, basketball, rugby and billiards as well. However, it seems that the Koreans like no sport more than golf. There is a dedicated 24 hour golf channel. Every hotel has a driving range. And it seems that there is AT LEAST one golf store on every block. Tiger Woods is the new Michael Jordan - his face is EVERYWHERE here.

One other thing that whets the Korean appetite- gambling. Again, this is not uncommon anywhere in the world. However, it is remarkably prevalent here. I like to gamble myself, and before I left I asked a Korean friend if there were any casinos in Seoul. He gave me that slow blink that indicates "I cant believe you even had to ask". There are no less than two dozen full casinos here, with another dozen in the works. More frequent are small betting parlors on almost every block, usually featuring only slots with the occasional horse betting station.

Thats all for today. Tomorrow Ill have some info on important brand names that hold a lot of sway in Korea. Some you may know already, some you may not. Remember, in my full report Ill detail how to profit from the trends I've talked about here.

And as one side note, my inside man has informed me that the big surprise has come through! I have one of the most exciting meetings of my life coming up soon; I just hope they'll let me take photos! I'll have details on that once it happens; I dont want to spoil it in advance!

Until next time,

Alex Chinn

April 28, 2005 in Alex Chinn in Korea | Permalink