The Year After Paying Off a $500K Debt, Seoul Siblings Borrow Another $500K—To Open a Restaurant They Don't Have to White-Knuckle Through

After clearing a $500,000 debt, most people would want to catch their breath. Rhee Hyuk Kee (33) and his sister So Hyun (31) chose to borrow another $500,000 instead.

When they took over their parents' Seoul Restaurant at Conrad Singapore Orchard in 2024, the 70-seat, traditional family-style K-BBQ joint was already six figures in debt. "It was basically seven days a week," Rhee recalls. "We were short-staffed, our parents came in to help too, and every cent we made went straight to paying off the loan." About a year later, the debt was cleared. So Hyun's take is blunt: "We just grinded through it."

By all logic, the story should end there. But this past March, the siblings opened a 64-seat new venture, Seoul & So, on the fifth floor of the National Gallery, investing nearly SGD 1 million—half from their own savings and the year's earnings, the other half, once again, from a loan. The amount was almost identical to the debt they'd fought so hard to pay off the year before.

Rhee himself admits it sounds like reliving the same gamble, but the logic this time is different. "With just one restaurant, you're exposed to lease risk, renewal risk, location risk," he says. "Opening a second one actually spreads out the risk." He's set his break-even timeline at two to four years.

Both are Singapore permanent residents who gave up other paths to get here—Rhee studied at Singapore Management University, while So Hyun, a graduate of Hankuk University of Foreign Studies, once worked in finance and media. "It started out of obligation," Rhee says, "but now, it's something we actually want to do." The name "Seoul & So" plays on "So," which means beef in Korean, tacked onto "Seoul"—a hint that this is a continuation rather than mere inheritance. As he puts it: "I don't want to be seen as just someone minding the family business. I want this to feel like something we chose." In front of the camera, the two still don't put their arms around each other—just a pair of awkward heart-hand gestures, standing stiffly side by side. Some things haven't changed.

From Self-Serve Buffet Grilling to Eight Charcoal Grill Stations

Seoul Restaurant runs on an all-you-can-eat buffet model with generous portions; Seoul & So operates on a completely different logic. The space is done in light wood tones and muted palettes, with metal mesh partitions echoing traditional Korean door lattices, while floor-to-ceiling windows pull in the greenery from the Gallery's rooftop. A glass-encased tree in the courtyard serves as the visual centerpiece. The menu has shifted to smaller, à la carte-style portions—weekday lunch sets start at $35, dinner sets at $89, and an eight-course Hanwoo tasting menu at $119. About 90% of the meat overlaps with the original outlet, including Australian Wagyu, Korean Hanwoo, and Jeju pork. The banchan has also been reworked, with portions scaled down so they complement the meat rather than fill you up.

All the meat is grilled by staff at eight charcoal stations and brought to the table, doing away with the awkwardness of servers grilling tableside. "This way, guests can just focus on eating," Rhee says. Weekends also feature a self-serve welcome bar with unlimited sparkling wine. "We didn't want guests feeling stuck at their seats," So Hyun adds. "They can walk around, chat, grab a drink."

In the lunch set we tried (pork $35, beef $45), the USDA Prime beef short ribs (150g) had a solid smoky aroma and even marbling—our 8 DAYS Pick this round. The Jeju "white pig" pork belly (also a pick) had no gaminess and wasn't overly fatty, actually edging out the Iberico pork collar on the menu. The à la carte Hanwoo ribeye flap (1++ grade, $39 per 100g) had good chew but lacked the melt-in-your-mouth quality you'd expect from top-tier Hanwoo—for that buttery texture, you'll need to go for pricier cuts. As for soups, the Doenjang stew got an herbal lift from shepherd's purse, while the Naeng Kalguksu—hand-cut noodles in a cold, slightly tangy broth—was the editor's pick of the two.

These days, the siblings mostly stay behind the scenes as company directors, with each outlet staffed by two managers and one assistant manager, while they only drop by once or twice a week. "Physically, it's a lot easier," Rhee says. "But the mental load hasn't gone down—now I have to manage everything myself: finances, HR, strategy." His goal is stated plainly: it's not about maximizing profit in the K-food boom, but "building a brand that can stand the test of time, one that carries the same weight as when our parents first opened Seoul Restaurant." Their retired parents, now living back in Korea, flew back specially for the opening, bringing along a whole crowd of friends to dine.

Seoul & So is located at National Gallery Singapore, #05-03 (1 St Andrew's Rd). Lunch runs 12pm to 3pm, dinner 6pm to 10:30pm, open daily. Check their Instagram for more details.