The "10,000-won buffet" that had been operating inside "Helio City," a large apartment complex in Songpa-gu, Seoul, has closed.
According to the real estate industry on the 7th, "Joon Food & Culture," which had run the complex's meal service, ended its operations on the 2nd as its contract expired.
The company had provided meals at Helio City since July 2024, priced at 9,000 won for lunch and 10,000 won for dinner. Usage time was limited to a maximum of 50 minutes.
Including seasonings, side dishes, and main courses, the number of dishes per meal reached 50 to 60. As word spread that a substantial menu could be enjoyed at a relatively low price, online communities praised it as a "value-for-money" buffet.
In the early days of operation, it was so popular that lines formed at every mealtime. Over time, however, the number of customers declined. It was reported that maintaining profitability was not easy as ingredient costs and labor expenses rose.
The recent rise in prices and raw material costs due to the prolonged war in the Middle East is also cited as a factor that increased operating burdens. Analysts say profitability likely worsened because meal prices remained at levels of about two years ago while various costs kept rising. Some in the industry note that the structure inevitably led to accumulating losses the longer operations continued.
In particular, some customers' bad manners also came under fire. On real estate-related online communities, witness accounts appeared such as, "Some customers paid for just one serving but actually took two to three servings, or secretly packed food to take away."
However, Helio City drew a line against the interpretation that the closure was due to operational difficulties. An official said through Ddangjib-go, a real estate specialty outlet, "The existing operator did not participate in the rebidding, and a new operator has now been selected," adding, "We plan to resume restaurant operations as soon as the Songpa-gu Office's approval process is completed."
Meanwhile, the market price of a Songpa Helio City unit with an exclusive area of 84㎡ stands at around 2.6 billion to 3 billion won.
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