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Watts on Tap - Watts the skinny?
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mack the knife



Joined: 16 Jan 2003
Location: standing right behind you...

PostPosted: Sun Jul 10, 2005 4:04 pm    Post subject: Watts on Tap - Watts the skinny? Reply with quote

So, this place worth a visit, or what?
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eamo



Joined: 08 Mar 2003
Location: Shepherd's Bush, 1964.

PostPosted: Sun Jul 10, 2005 4:07 pm    Post subject: Reply with quote

Question

You've lost me.
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JongnoGuru



Joined: 25 May 2004
Location: peeing on your doorstep

PostPosted: Sun Jul 10, 2005 4:09 pm    Post subject: Reply with quote

Is it for foreigners? I was under the impression it was for scotch-drinking, big-tipping Korean men. Was I misinformed?
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mack the knife



Joined: 16 Jan 2003
Location: standing right behind you...

PostPosted: Sun Jul 10, 2005 4:15 pm    Post subject: Reply with quote

It's the first foreign-owned bar/restaurant in Korea. Good article in the Herald today. Good article in the Herald? *gasp!*
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alicat_blue



Joined: 09 Mar 2005

PostPosted: Sun Jul 10, 2005 4:26 pm    Post subject: Reply with quote

I went to the opening night and I thought it was a great place. The two guys who own the place are really nice and the food is excellent. It's located right in the heart of Sinchon. It has a lovely roof patio and I recommend a visit.
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Mashimaro



Joined: 31 Jan 2003
Location: location, location

PostPosted: Sun Jul 10, 2005 4:28 pm    Post subject: Reply with quote

directions?
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JongnoGuru



Joined: 25 May 2004
Location: peeing on your doorstep

PostPosted: Sun Jul 10, 2005 4:30 pm    Post subject: Reply with quote

Most of the customers are foreigners who are attracted to the international food and ambience, but Watts is confident that the word will get around that Watts on Tap offers both drinks and free English language practice. Although the bar is near Yonsei University, Watts hopes the bar will attract older Koreans as well as college students.

So, did you offer any free English practise to the older Koreans at the grand opening? Was it fun? Razz Sorry. That was mean. I wish them luck.

The Herald article is here:
http://www.koreaherald.co.kr/archives/result_contents.asp?id=200507110015&query=watts
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eamo



Joined: 08 Mar 2003
Location: Shepherd's Bush, 1964.

PostPosted: Sun Jul 10, 2005 4:53 pm    Post subject: Reply with quote

Quote:
The Herald article is here:
http://www.koreaherald.co.kr/archives/result_contents.asp?id=200507110015&query=watts


Reading this article makes one have a good old laugh at 'The Hub of Asia' concept.

This guy had to jump through so many hoops. There are no procedures in place for the small foreign investor? In 2005??!!

C'mon Korea! Snap to it!!!
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JongnoGuru



Joined: 25 May 2004
Location: peeing on your doorstep

PostPosted: Sun Jul 10, 2005 5:15 pm    Post subject: Reply with quote

eamo wrote:
Quote:
The Herald article is here:
http://www.koreaherald.co.kr/archives/result_contents.asp?id=200507110015&query=watts


Reading this article makes one have a good old laugh at 'The Hub of Asia' concept.

This guy had to jump through so many hoops. There are no procedures in place for the small foreign investor? In 2005??!!

C'mon Korea! Snap to it!!!

But even so, things are easier now than in the 1990s. I'd say there's no comparison. What the article highlights that I found interesting is this notion that here's someone who's gone where no foreigner has dared tread before. This is the line: Foreigners who have opened a restaurant or bar in Korea typically find a local partner or have their Korean spouse or friend to be the pseudo owner. "Typically" doesn't mean "always and in every single case" -- it just means "typically".

The problems he or anyone faces are nearly all entirely due to unfamiliarity of individual officials with what is possible, what isn't, how to get around seemingly impossible obstacles. As ever, it's not so much a case of who you know, but WHAT they know and what they don't. "No" is the magic word that will vanquish all doubts, fears and uncertainties of any bureaucrat.
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mack the knife



Joined: 16 Jan 2003
Location: standing right behind you...

PostPosted: Sun Jul 10, 2005 5:35 pm    Post subject: Reply with quote

I think it's a bad idea for a foreigner to open a biz in another country without a native partner. There will always be issues which only a native can handle. Sure, managers can handle most issues, but only if you TRUST them. A co-owner has much more at stake, so you can be at least 95% sure they will do the right thing in a given situation (and if they don't you at least have the option of sueing their ass off if you created a decent contract).

The owner of Watts had to hurdle the usual piles of bureaucratic red tape, but that seems de riguer in most countries. What I'd like to see now is a foreigner importing foreign goods and selling them at reasonable prices*





*Carrefour does a decent job. Last night I was at the Hannam supermarket (the one near UN village, not the one near Volvo) and almost everything was more expensive than Carrefour by at least W1000 or so.
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alicat_blue



Joined: 09 Mar 2005

PostPosted: Sun Jul 10, 2005 7:38 pm    Post subject: Reply with quote

To get there, go like you're headed to Hongik University, I believe it's line number two, the green line. Get off at Sinchon, the station right before Hongik. Leave Sinchon station via exit number 2 which is right across the street from Mcdonald's (unfortunate but recognizable landmark). When you reach the top of the stairs, turn left and head down the street towards Yonsei University. About two or three blocks down start looking down the small side streets on your lefthand side. Watts is tucked a little ways down one of these, you can see it from the main road, it's the top level of a three story building. And I was too busy dancing and making merry that night to talk to anyone, as the music was too loud anyways. I mainly saw white folks and the koreans I did speak too just wanted to have a good time as well, not too interested in practising their englishey.
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itaewonguy



Joined: 25 Mar 2003

PostPosted: Sun Jul 10, 2005 11:26 pm    Post subject: Reply with quote

mack the knife wrote:
It's the first foreign-owned bar/restaurant in Korea. Good article in the Herald today. Good article in the Herald? *gasp!*


wow some body better tell that to the owner of nashville, 3alleys..
and what about NICKLEBEIS!! that was 100% foreign owned..

watts on TAP will be GONE in a year!
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hellofaniceguy



Joined: 10 Jan 2003
Location: On your computer screen!

PostPosted: Sun Jul 10, 2005 11:42 pm    Post subject: Reply with quote

alicat_blue wrote:
I went to the opening night and I thought it was a great place. The two guys who own the place are really nice and the food is excellent. It's located right in the heart of Sinchon. It has a lovely roof patio and I recommend a visit.


Two guys? Owners? Today's korean herald stated that it has only one owner...some foreigner from Canada.
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hellofaniceguy



Joined: 10 Jan 2003
Location: On your computer screen!

PostPosted: Sun Jul 10, 2005 11:46 pm    Post subject: Reply with quote

mack the knife wrote:
I think it's a bad idea for a foreigner to open a biz in another country without a native partner. There will always be issues which only a native can handle. Sure, managers can handle most issues, but only if you TRUST them. A co-owner has much more at stake, so you can be at least 95% sure they will do the right thing in a given situation (and if they don't you at least have the option of sueing their ass off if you created a decent contract).

The owner of Watts had to hurdle the usual piles of bureaucratic red tape, but that seems de riguer in most countries. What I'd like to see now is a foreigner importing foreign goods and selling them at reasonable prices*

Look around you...in every country...more than half of jointly owned businesses fail...partnership is a doom for failure and for people lacking business sense and or money. Most never work. And having a korean partner is high on the failure scale big time. Thousands of korea businesses fail everyday! Look around you! Every street block has some sort of new business going in every week! Some fail in 6 months!





*Carrefour does a decent job. Last night I was at the Hannam supermarket (the one near UN village, not the one near Volvo) and almost everything was more expensive than Carrefour by at least W1000 or so.
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mack the knife



Joined: 16 Jan 2003
Location: standing right behind you...

PostPosted: Mon Jul 11, 2005 5:55 am    Post subject: Reply with quote

Quote:
Look around you...in every country...more than half of jointly owned businesses fail...partnership is a doom for failure and for people lacking business sense and or money. Most never work. And having a korean partner is high on the failure scale big time. Thousands of korea businesses fail everyday! Look around you! Every street block has some sort of new business going in every week! Some fail in 6 months!


This is tripe that I did not write, although it was attributed to me by hellofaniceguy.

Businesses fail for myriad reasons in every country, everyday, partnerships and otherwise. Hundreds of businesses owned soley by Koreans close every (month?) Every financial advisor worth his salt says the smartest thing to do before opening a biz is to incorporate. It's called covering your ass. I've read that in at least 300 books.

Anyway...What the f**k! Can I get a goddam decent pint of lager here, or what? Rolling Eyes
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