Budget watch: Help create recipe for SMEs venturing overseas

Home-grown restaurant chain Gratify Group has been looking to take its Seoul Yummy brand overseas for over a year now, but has not made much headway.

It could be a prime candidate for the sort of fresh official help being considered for companies seeking to expand overseas – after facing hurdles such as a lack of brand awareness and resources as well as finding the right business partners abroad. There are seven Seoul Yummy outlets, with another due to open next month.

Founder Frank Lau said: “Seoul Yummy would hit a plateau of 12 outlets in Singapore in the next two to three years, so we hope to continue to grow the brand overseas.”

The markets under consideration include Australia, China, Indonesia and Malaysia, which the firm prioritises owing to its proximity to Singapore and lower cost of operation.

It intends to “refresh” the Seoul Yummy brand later this year with a new logo and brand positioning.

Gratify Group – which also runs Omoomodon eatery – tapped a government grant last year to develop a franchising model which it

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