A "10,000-won buffet" that had operated inside Helio City, a large apartment complex in Seoul's Songpa District, has closed its doors.
According to real estate outlet Zipsa on Tuesday, Joon Food & Culture, which had run the complex's meal service, ended operations on June 2 as its contract expired.
The company had provided meals at the Helio City complex since July 2024, charging 9,000 won for lunch and 10,000 won for dinner. Dining time was limited to a maximum of 50 minutes.
Counting seasonings and side dishes as well as main courses, the number of food items per meal reached 50 to 60. As word spread that customers could enjoy a substantial menu at a relatively low price, online communities came to regard it as a "value-for-money" buffet.
In its early days, the service was so popular that lines formed at every meal time. Over time, however, the number of customers declined. Maintaining profitability was reportedly difficult as ingredient costs and labor expenses rose.
The prolonged war in the Middle East and the resulting increases in prices and raw material costs have also been cited as factors adding to operating pressure. Analysts say profitability likely worsened as meal prices stayed at levels from about two years ago while various costs continued to swell. Some in the industry also view the structure as one in which losses were bound to accumulate the longer operations continued.
In particular, the bad manners of some customers came under scrutiny. Real estate-related online communities carried accounts saying, "There were customers who paid for just one serving but actually took two or three servings, or secretly packed food to take away."
However, Helio City drew a line against the interpretation that the closure was due to operating difficulties. An official told the 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 District Office's approval procedures are completed."
Meanwhile, the market price for a Songpa Helio City unit with an exclusive area of 84 square meters is in the range of 2.6 billion to 3 billion won.
