Kaohsiung's 'Billion-Dollar Ruin' Gets a New Tenant: Fresh Food Supermarket to Move In

Kaohsiung's so-called "billion-dollar ruin" is finally getting a new tenant. The former Hanba Korean barbecue restaurant at the busy intersection of Bo'ai and Mingcheng roads has begun renovation, with MILAS Anxin Fresh Supermarket reportedly preparing to move its Zhongzheng branch there.

The site sits at what locals call a golden intersection, where traffic passes heavily each day. From 2017 to 2020, the property housed a reception center for the Shin Kong Fubon group at a monthly rent of NT$1 million. The later tenant, the Pancolor Group, paid NT$800,000 a month and invested NT$100 million to create Hanba Korean barbecue.

The restaurant opened with publicity in 2021, including a sign thanking TSMC for establishing a plant and declaring glory for Kaohsiung. Business was initially strong, but the restaurant suddenly closed in February 2024 amid pressure from raw-material costs and rent. A dispute with the landlord followed, and the property remained empty for more than two years. Typhoon Krathon later damaged its exterior and sign, prompting the nickname "billion-dollar ruin."

Recruitment information identifies the incoming tenant as MILAS Anxin Fresh Supermarket, which plans to move its Kaohsiung Zhongzheng branch to Mingcheng Road and add food and coffee departments. Public lease records show a term extending to July 2036, with monthly rent of NT$800,000 for the first five years and NT$900,000 for the next five, bringing the 10-year total close to NT$100 million.

The supermarket, founded by Liao Chien-min, known as Uncle Liao, operates a physical fresh-food and membership store built around group-buying power to reduce costs. It sells SGS-tested fresh food and daily necessities, offering discounts and gifts through stored-value accounts or membership plans. Real estate industry sources said the intersection's proximity to the Fubon Houzaiting development and the planned Hanshin Department Store Building Three gives it strong advertising exposure.