This Q&A is a part of Observer’s Professional Insights collection, the place trade leaders, innovators and strategists distill years of expertise into direct, sensible takeaways and ship readability on the problems shaping their industries. Simon Kim has by no means handled Korean delicacies as a pattern to be exploited. From the start, he approached it as a class to be constructed—rigorously, rigorously and with long-term conviction. Since opening Cote in New York in 2017, Kim has remodeled the concept of a Korean steakhouse right into a scalable luxurious format that now spans New York, Miami, Las Vegas and Singapore whereas sustaining Michelin-level consistency throughout radically totally different markets.
That consistency, Kim argues, shouldn’t be the product of inflexible replication however of readability. COTE is intentionally linear at its core: a beef-centered Korean steakhouse designed and executed by subject-matter consultants. The basics don’t change, at the same time as every metropolis brings its personal cultural expectations. Fairly than compromising requirements to develop, Kim has constructed development round individuals, creating leaders able to executing on the highest degree, wherever the restaurant opens. Enlargement, on this mannequin, is much less about chasing alternative and extra about recognizing readiness.
As Korean tradition turns into a world financial power—from meals to trend to leisure—Kim sees hospitality coming into a brand new part of maturity. Broad, generalized notions of “Korean meals” are giving approach to extra exact, regional and identity-driven expressions, much like the evolution Italian and Japanese cuisines underwent many years earlier. COTE displays Kim’s personal lived expertise as a Korean American skilled in French positive eating: not a reproduction of a restaurant in Korea, however a New York restaurant that honors Korean tradition whereas talking fluently to its environment.
That stability between authenticity and flexibility, self-discipline and creativity extends to how Kim thinks about design, economics and threat. Eating, for him, is theater, not one thing to be over-quantified. Development follows the logic of a residing system. And success, in the end, is measured by delight: if visitors are genuinely moved by the expertise, the enterprise fundamentals are inclined to comply with. In an trade outlined by skinny margins, investor strain and international competitors, Kim’s strategy affords a uncommon case examine in how cultural relevance, operational rigor and artistic conviction can coexist—and scale.
COTE now operates in New York, Miami, Las Vegas and Singapore. What’s the working system that means that you can keep Michelin-level consistency throughout such totally different markets?
It in the end comes right down to individuals and focus. We construct and put money into creating distinctive groups of people who find themselves not solely extremely proficient however who’re devoted to our eating places and model. Fairly than compromising requirements to scale, we scale by creating leaders who can execute on the highest degree in any market.
Equally essential, COTE is a linear idea. At its core, it’s a beef-centered Korean steakhouse constructed by material consultants. Whereas every metropolis brings totally different expectations, the basics by no means change. By staying clear about what the expertise is supposed to be, we’re capable of keep Michelin-level consistency throughout each location.
Whenever you’re evaluating a brand new location, what metrics or indicators matter most? Is it actual property, demographic information, tourism flows and native labor markets?
Whereas we consider conventional metrics like actual property, demographic information, tourism flows and native labor markets, a very powerful issue is instinct. As a restaurateur, you must really feel whether or not the idea, the ethos and what we stand for genuinely match into the zeitgeist of town. That alignment is troublesome to quantify, however it’s crucial. If the idea actually belongs in that second and place, the metrics can nearly all the time be made to work. But when it doesn’t resonate with town, no quantity of knowledge, evaluation or robust numbers on paper will make it profitable.
Korean tradition has turn out to be a world financial engine, from meals to trend to leisure. What do you see as the following frontier for Korean hospitality on the world stage, and the way is your group positioning itself inside that motion?
Korean hospitality is coming into the same evolution to what we’ve already seen with Italian and Japanese delicacies. These cuisines first grew to become international via broadly outlined ideas, like pink sauce Italian eating places or generalized Japanese eating places, earlier than shifting into rather more regional and localized eating places. Korean meals is now on the subsequent part, the place it’ll not be sufficient to say one thing is a Korean restaurant. We’re going to see clearer segmentation, whether or not that’s meals rooted in a southern port metropolis like Busan or different distinct regional identities, a lot in the identical method individuals perceive northern versus southern Italian delicacies.
At Gracious Hospitality Administration, our position is to remain true to who we’re whereas serving to transfer that evolution ahead. I’m Korean and American, and COTE displays that identification. We’re not a reproduction of a restaurant in Korea. We’re a New York restaurant that embodies New York sensibility whereas honoring Korean tradition. This makes us nicely positioned to behave as a bridge or a information for genuine Korean ideas coming into the U.S. market. Whether or not which means facilitating, funding, consulting or serving to Korean hospitality manufacturers translate their imaginative and prescient for an American viewers whereas staying true to their roots. We see ourselves as a sherpa in that journey, serving to the following era of Korean hospitality discover its place on the worldwide stage.
As Korean delicacies turns into extra globalized, how do you navigate the stress between cultural authenticity and the expectations of a world viewers?
Cultural authenticity is immensely essential, however for us, what issues much more is our personal authenticity. We’re a Korean steakhouse, however we by no means got down to be the best reproduction of a Korean restaurant in America or to reflect what already exists in Korea. From the start, the purpose was to be true to ourselves. I’m Korean American and skilled in French positive eating, and COTE displays that lived expertise. Staying true to that core has all the time been our precedence.
I additionally consider the way forward for Korean tradition and eating places within the U.S. is extremely brilliant. I think about it like a coral reef, with informal locations, positive eating eating places and road meals. I believe it’s instrumental in supporting that range to create a strong and vibrant group for Korean delicacies. For Gracious Hospitality, our accountability is to stay anchored to who we’re. Our north star lives inside us, and that’s what guides every part we do.
COTE’s enlargement has been unusually disciplined in comparison with many fast-scaling restaurant teams. What operational philosophy or financial precept has most formed the way in which you determine when—and the place—to develop?
Our strategy to development isn’t any totally different than a plant. When you may have a tree that’s rising, you don’t repot it simply since you need extra crops. You repot it when it has outgrown its pot. That’s what dictates us. Development occurs when the timing is correct, not merely based mostly on want.
For us, individuals are a very powerful issue. When our staff members have outgrown their present alternatives and are prepared for extra accountability, that indicators it’s time to develop and be sure that our individuals have the capability to take action. The identical mindset applies to Gracious Hospitality Administration. We can not simply open eating places; we want the company infrastructure to assist the expansion of the model, whether or not that’s high quality management, buying, advertising, HR or accounting. These methods take time to develop, and if we push too quick, there are inevitable rising pains. Whereas we’re rising quickly, we’re extraordinarily disciplined as a result of we care. We have now an unstated promise to ship the very best high quality Korean steakhouse expertise, and that’s the model we’re constructing. That’s what our prospects all the time count on, which requires being extremely strategic about every part we do. Regardless that I could look risk-forward, I’m really very risk-averse, and that self-discipline permits us to guard the standard and integrity of the expertise.
Your ideas every have extremely outlined identities. What methods or constructions have you ever constructed to scale with out diluting the artistic DNA that made COTE profitable within the first place?
We work extremely arduous to make sure that enlargement of our model doesn’t dilute the creativity or expertise. It’s much like the expertise of creating Kool-Support. When you have Kool-Support and also you pour in additional
One instance is the event of a brand new R&D division that permits our groups to evolve and discover new concepts. Every restaurant must be artistic but unified. After I open a brand new location in a brand new market, round 80 p.c of the menu is totally unified, whereas 20 p.c permits for autonomy. Whereas we’re immensely grateful for our success and the assist we’ve been given, we’re nonetheless a younger firm, repeatedly attempting to evolve and push the artistic limits.
You’ve stated eating ought to really feel like theater. How do you quantify the returns of design—lighting, acoustics, supplies, the “spectacle issue”?
Magic shouldn’t be over-analyzed. We don’t quantify it. We’re very lucky that our eating places are in style and switch in wholesome earnings, and we’re extremely grateful for the assist we’ve been given. To me, the weather that make eating whimsical, ethereal and theatrical are what make it memorable. We don’t attempt to over-analyze these items. One of many largest secrets and techniques about magic shouldn’t be asking for the secrets and techniques.
You’ve constructed a number of Michelin-starred ideas. Is the Michelin system nonetheless aligned with the realities of contemporary eating, or is a brand new mannequin rising?
The Michelin Information has all the time been, and in my view, all the time shall be, the usual for culinary and gastronomical experiences on the planet. Whereas the trade has modified as an entire, there isn’t a different entity that holds the identical weight and respect. The information has been extraordinarily accountable, and it stays probably the most respected and goal authority. To me, it’ll all the time be the usual.
Hospitality is more and more formed by actual property economics, investor expectations and international model competitors. How do you make selections in an surroundings the place cultural relevance, monetary self-discipline and artistic threat all compete for precedence?
I’m a restaurateur earlier than I’m a businessman, and that perspective is essential. There’s a cause why large firms typically battle to run profitable eating places. Evaluation paralysis is actual. What I’ve realized is that discovering the proper staff is a very powerful consider constructing company infrastructure. After getting a finance staff and accountability in place, you’ll be able to give attention to delighting prospects.
The entire different elements are extraordinarily essential, however the tenet is whether or not you’ll be able to delight your prospects. If you are able to do that, the enterprise quantity will comply with, and you’ll have the runway to determine every part else out with the proper staff. In the end, my first purpose is all the time to carry delight to our prospects.
The restaurant trade is infamous for skinny margins. What is a few recommendation you consider the following era of hospitality leaders might want to undertake to remain aggressive?
After I was beginning out within the trade, it felt inconceivable to compete with all the big-name cooks and eating places. What I lacked in notoriety, I had in grit, agility and the power to be artistic. My recommendation for the era can be to give attention to the distinctive factor that makes you considered one of a form. Deal with what the older era could not absolutely perceive, whether or not that’s A.I., expertise or the wishes and habits of youthful diners. Leveraging these insights whereas understanding conventional approaches will enable them to create a aggressive and compelling enterprise enterprise.
You’ve hinted at QSR-style spin-offs and new ideas coming to 550 Madison. What white areas in hospitality nonetheless really feel underserved?
There’s a lot alternative, particularly within the clean-label house. Personally, I’m within the meals enterprise, and I don’t need to serve something that isn’t scrumptious. How you are feeling after consuming is simply as essential as how you are feeling earlier than or throughout. Whether or not it’s QSR, sit-down eating places or CPG, clean-label choices stay underserved.
Our mission at Gracious Hospitality is to please our prospects. I imply that not simply in style but additionally in well being and the way they really feel. We give attention to that, and we need to proceed increasing throughout all aspects to satisfy our mission of bringing extra delight to our prospects.
550 Madison shall be your largest challenge thus far—a multi-concept landmark occupying considered one of New York’s most iconic buildings. What does a challenge of this scale permit you to try creatively or operationally that wasn’t potential in your earlier eating places?
It’s a real honor to create at 550 Madison. In my view, it is without doubt one of the most essential items of actual property in New York Metropolis. It’s such a historic constructing, and one which I really feel immense pleasure and honor to be part of. 550 Madison is one thing we’ve by no means performed earlier than. It’s a model new house, which creates a chance to carry one thing contemporary and new whereas respecting custom. It’s a nice canvas to create one thing that feels linked to New York’s previous and current whereas additionally embracing the long run.
This challenge permits us to aim issues creatively and operationally that weren’t potential in earlier eating places. With this opening, we’re capable of carry collectively a number of ideas below one roof and collaborate with extraordinary companions like David Rockwell, Chef Yoshitake and the Olayan Group. Every of them is a grasp in their very own craft, and this shall be a real alternative to mix everybody’s expertise, historical past and experience to create one thing better than the sum of its components. As David Rockwell says, it takes a village. Everybody concerned understands the magnitude of this challenge.
This isn’t about bringing downtown to midtown. It’s about opening the following chapter of what midtown eating might be, whereas honoring the legacy of the previous. I’m extraordinarily optimistic that the very best of New York Metropolis’s eating scene is but to return, and it is a essential mission that we don’t take frivolously. I’m deeply honored to hold the torch and excited to carry collectively these artistic views to construct one thing modern, deeply linked to New York and reflective of the power and vibrancy of town’s future.
