Tacos Selling 700 Daily... A 30s Young Man Who Opened 4 Stores in a Year [Euljiro Rotary]

①Kim Hang-geun, CEO of Old Star Taco
The Euljiro taco shop with lines out the door
4 stores and 30 employees in 1 year
Started with a 30 million won loan... The secret to success

The worn-out 'OLDIES' sign hanging on the corner of an old building in front of Exit 8 of Euljiro 3-ga Station in Seoul. As the red neon sign lights up, young people gather. What they are looking for is the traditional Mexican food, tacos. Oldies Taco, which opened in a small space of about 3 pyeong in February 2023, became the hottest taco place in Euljiro within a year. As the first Oldies Taco branch prospered, the number of stores under the 'Oldies' name in Euljiro expanded to four, and the number of employees increased to 30 within a year.

Kim Hang-geun (37), the founder of Oldies, majored in stage art. He was not interested in money or management. Oldies Taco started because a friend and current business partner readily lent him 30 million won. In an interview with Asia Economy on the 23rd, Kim said, "The current success feels surreal," adding, "The popularity suddenly surged, and I feel like the protagonist of the movie The Truman Show." Currently, at the first Oldies Taco branch, tacos priced between 4,900 won and 5,900 won sell about 600 to 700 pieces a day. On good days, sales reach 800 pieces. Considering the 10-hour store operation time, that means selling more than one taco per minute. To handle the influx of customers, they even created a new prep room (a space for preparing food).

Success came from a perfect combination of factors. COVID-19 ended, a prime location became available, and they opened on days that were neither too cold nor too hot. Above all, the synergy between Oldies' 'newtro' sensibility and Euljiro's 'aged' atmosphere played a key role. Without spending on marketing, a video of taco dishes they filmed surpassed 5 million views on Reels and Shorts, naturally spreading word of mouth. Recognizing that experience consumption trends were spreading mainly among people in their 20s and 30s, Kim aimed not just to sell food but to create a space that offers fun experiences to customers who visit the store.

Kim Hang-geun, CEO of Old Star Co., completed everything from the brand logo to the store interior with his own hands. Photo by CEO Kim

"I look at the space and think about how best to implement it."

He humbly described his success as 'coincidence,' but said that incorporating what he likes and does well into the store was the key to its popularity. From Oldies House, the first store opened under the 'Oldies' name, to Oldies Taco branches 1 and 2, and Oldies Hot Dog, all four stores were decorated by him personally. When he sees a place that draws him in, a flash of inspiration strikes him on how to approach it in a fun way. All the store props are also his handiwork, collected steadily since his youth. He even created the Oldies trademark himself.

He likes the charm that comes with the patina of time. His fascination with Euljiro stems from the unique feeling that an old city gives. The name 'Oldies' comes from the phrase 'Oldies but goodies,' meaning 'an old hand is a good hand.' Because he was unfamiliar with tacos, he could better understand customers' perspectives. The open kitchen concept at Oldies Taco was a result of his consideration on how to make the unfamiliar taco more approachable.

Kim Hang-geun, CEO of Old Star Co. Photo by CEO Kim

Kim said, "I didn't know what a taco was. So I thought others probably didn't know much about tacos either. I wondered how I could introduce what a taco is. I thought that if we showed how to make it, like tteokbokki, people would naturally understand by seeing it made."

Before founding Oldies, Kim went through many trials and errors. He worked as a McDonald's rider and ran a wine bar in Yongsan. He said, "It took about eight years to succeed in founding Oldies. I thought a lot about what I truly love to do. I constantly searched for what I was good at and tried to find direction."

Kim's advice for startup success is not grandiose. Study diligently and make the most of what you like and do well. "If your store lacks character, just follows trends, or tries to make a quick profit and leave, it's easy to fail. When you see a really successful place, you feel overwhelmed from the entrance. Stores that are cared for, cherished, and loved give that feeling to customers. If you love it, you can never fail. I believe you have to bring what you truly love into the space. That way, when customers come, they feel and empathize with that, leading to a special experience. When customers post about it on their feeds, the story continues."

Editor's NoteEuljiro is also known as 'Hipjiro.' Although the old buildings and reconstruction projects in the alleys create a chaotic scene, the overlapping of past and present gives it a unique charm. Once facing decline due to industrial downturns, Euljiro's vitality has been revived as young people continue to visit. We meet those who have established their presence with a distinctive sensibility in Euljiro and those striving to carry on its legacy to envision the city's future.