Monday, April 13, 2015

MoolsahSense: Seoul Yummy Follow-up

I blogged about Seoul Yummy, the 3rd campaign of Moolahsense a few weeks ago. Just thought I'd give some updates about it.

Over the weekend, I decided to visit their flagship store at Bugis+ to try out their food with my friend who also enjoys Korean culture and cuisine!

(Photo Credits: Eugenia from Spacestardom)

They have a policy of not taking reservation for their Bugis outlet after 6pm, and I can understand why. I was supposed to meet my friend for dinner at 7pm, but she arrived 15 minutes earlier, so she went to queue. Once I arrived, she had just reached the front of what was a small queue and we were immediately seated. 30 minutes into the meal, I saw a long queue outside! Not Llao Llao long, but still a pretty decent queue given the array of other food choices available in the area.

We ordered their signature combo set and got potato pancake, budaejigae (부대찌개) and ice cream. I was quite disappointed that their bingsoo was not available, bummer.

As always, I am a horrible food blogger because I always forget to take photos of my food and I just whack! So the only photo I have is of the budaejigae (because it wasn't something I could eat straight away), which was actually quite generous with the amount of meat. Since I also have no skill and I never use filter, it looks a lot uglier than it actually was!

The banchan wasn't that awesome to me. There were just 6 of them. Kimchi, ikan bilis, tofu and a few others. I enjoyed the tofu. The kimchi was very normal, a bit on the more mild side, not anything to find fault with, but not anything to be excited about.

The potato pancake was... like prata. It was quite small, perhaps 15cm in diameter? To be totally honest, I have never had Korean potato pancake before, although I have had many other kind of Korean pancakes before. It had the texture of very chewy prata. Maybe they used too much flour for this one? I don't know, but I thought it was really weird. If they had indian curry instead of the soy-based sauce, I would have probably enjoyed the dish more, haha!


The budaejigae was actually very well sized. Very authentic looking with the baked beans, spam and hot dogs. The soup was tasty and well seasoned. There was enough noodles for both of us, and there was plenty of meat. I think that is the usual problem with budaejigae, skimping on the meat. That was not a problem here.

They place a portable gas stove on the table and put the wok/pot with the jigae on top of it, and let it heat up and cook in front of you which is the norm at most Korean places. The only issue was that for some reason our gas stove was super slow! I checked to make sure that it was at the biggest flame, but the table beside us that sat down later got their food boiling before we did! Minor gripe, but because of the slow cooking, we were actually stuck in the restaurant for a pretty long time. They almost had a full turnover of diners since we were just so slow. Not a problem for me though since my friend and I was busy chatting, but it could be a problem for other people.

The ice cream came on a pretty plate/bowl thingy and it was just normal ice cream. I mean, how good can restaurant ice cream get? No bingsoo, haiz.

I thought that the service was good. It was easy to catch the service staff attention and they seemed to know their jobs very well. The branch seemed to have two managers supervising and they were doing a good job keeping everything smooth running in my opinion.

With 2 drinks, our total bill came up to $31 per person nett. I think it was a bit pricey for the food we got, but then again I also think that we made bad choices. I would have ordered from the ultimate two combo and have kimchi pancake, kimchi fried rice, doenjangjigae and a meat side dish, but "Army Stew" is all the rage at Korean places these days.

From the MoolahSense website, I can see that this current campaign has already managed to raise it's target amount of money of $200,000 and have exceeded that by amount $50,000. The amortizing rate of 10% translates to about a 5.5% returns in a calculation that we are more familiar with. Since it has exceeded its target amount, the rate will probably be bid lower, so perhaps returns of 5% would be more realistic for investors now.

I don't think I am an expert in Korean food, but I think I eat Korean food a lot more than most people do. When I was younger, the first vegetable that I enjoyed eating was kimchi. After being exposed to Korean cuisine from my own growing up days and also from visiting Korea, I know what good Korean food tastes like and I also know that it doesn't have to be expensive to be good. Unfortunately, although Seoul Yummy ticks all the boxes for me as a business in terms of service and operations, I thought the food could have been better, especially for the price that they are charging.

I will not be taking part in their campaign, but I wish them luck! Hopefully I have a better experience there the next time I go too, haha!

On a final note, Dollars & Sense posted an article about P2P lending, and I will be checking out the other people in the scene, Capital Match and Funding Societies.

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