If economic slumps can be rated by how many Starbucks a country has, then Korea is really screwed:
In the same spirit, I propose the Starbucks theory of international economics. The higher the concentration of expensive, nautically themed, faux-Italian-branded Frappuccino joints in a country’s financial capital, the more likely the country is to have suffered catastrophic financial losses. (…)
Like American financial capitalism, Starbucks, fueled by the capital markets, took a great idea too far (quality coffee for Starbucks, securitization for Wall Street) and diluted the experience unnecessarily (subprime food such as egg-and-sausage sandwiches for Starbucks, subprime loans for Wall Street). Like so many sadder-but-wiser Miami condo developers, Starbucks operated on a “build it and they will come” philosophy. Like many of the humiliated Wall Street firms, the coffee company let algorithms and number-crunching get the better of sound judgment: If the waiting time at one Starbucks was over a certain number of minutes, Starbucks reasoned that an opposite corner could sustain a new outlet. Like the housing market, Starbucks peaked in the spring of 2006 and has since fallen precipitously. [Daniel Gross - Slate]
So how many Starbucks does South Korea have? Well many more then most countries:
What does this have to do with the price of coffee? Well, when you start poking around Starbucks’ international store locator, some interesting patterns emerge. At first blush, there’s a pretty close correlation between a country having a significant Starbucks presence, especially in its financial capital, and major financial cock-ups, from Australia (big blowups in finance, hedge funds, and asset management companies; 23 stores) to the United Kingdom (nationalization of its largest banks). In many ways, London in recent years has been a more concentrated version of New York—the wellspring of many toxic innovations, a hedge-fund haven. It sports 256 Starbucks. In Spain, which is now grappling with the bursting of a speculative coastal real-estate bubble (sound familiar?), the financial capital, Madrid, has 48 outlets. In crazy Dubai, 48 Starbucks outlets serve a population of 1.4 million. And so on: South Korea, which is bailing outs its banks big time, has 253; Paris, the locus of several embarrassing debacles, has 35.
Well I guess one way to look at this theory is that North Korea should be a good place to invest since they have no Starbucks.








4:42 pm on October 22nd, 2008 1
No worries. Obama will soon save us all with government handouts and redistribution of wealth. Man, I can't wait! Where's my cheese, Obama? (DWS)
10:47 pm on October 22nd, 2008 2
One of the big bummers of going almost any starbucks in SE Asia is that its full of loudmouth Koreans.
In Korea, the reason why starbucks is so expensive is because Koreas camp out for 8 hours. Westerners get their java and go.
Thank god you cant smoke in Starbucks or that place would be as bad as a Korean joint.
2:56 am on October 23rd, 2008 3
I never let the indigenous population bother me in a Starbucks in any country…NOT that I have any desire to sit around & be part of the scene anyway.
Tried it once at the SM mall in Pampanga PI…while waiting for the kids to get out of the movie. Locals are just too loud for my blood to sit there & enjoy a cup of brew…noticed that the locals also bought very little, but occupied tables, couches, etc., like they owned them. It must be an Asian thing…thankfully there still a few races running around that still exhibit "Common Decency."
I like my Starbucks, but they need to implement some occupancy policies before they lose the regular customers…