20x Profit in Two Years: How Reddog’s ‘K-Snack’ Model Is Scaling Fast in South East Asia

Revenue doubles for a second straight year; operating profit surges more than twentyfold to an unusually high ~20% margin

Singapore entity launched in April, first store opens in August; ASEAN’s 600-million market in sight, with an IPO under review for the first half of 2027

SINGAPORE, July 5, 2026 /PRNewswire/ — Reddog, the Korean street-food (“bunsik”) brand that has brought tteokbokki and Korean-style corn dogs to Indonesian consumers, has emerged as a standout high-growth, high-margin model for the globalisation of K-food.

The company posted group consolidated revenue of SG$20 million and operating profit of SG$4 million last year — an operating margin of roughly 20%, far above the low single digits typical of restaurant franchising. Revenue has doubled in each of the past two years, while operating profit has surged more than twentyfold.

Remarkably, that growth was achieved with zero external capital. Reddog Indonesia has never raised a single round of investment, funding its expansion to more than 130 stores entirely from its own cash flow while staying consistently profitable.

“The past two years were about explosive growth while building a rock-solid foundation — quadrupling revenue and lifting operating profit more than twentyfold,” said Kim Hong-yeol, CEO of Reddog. “This year we widen the stage to ASEAN.”

In April, Reddog established a global entity in Singapore, and in August it opens its first store in a CapitaLand shopping mall — a beachhead for expansion across an ASEAN market of more than 600 million people. Capital markets are already moving: the company is reviewing an IPO in the first half of 2027, with several major Indonesian securities firms said to have made contact.

Reddog is led by founder and CEO Kim Hong-yeol, an F&B operations-systems specialist, and COO Cho I-jun, a turnaround expert focused on profitability and growth.

Contact: 

Cho Ijun
[email protected] (+65 8613 1011)

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