Outside of Taiwan, we have opened six such restaurants worldwide -- three in Los Angeles, two in Japan and one in Australia. We have decided to team up with a Japanese noodle chain, which has more than 300 outlets there, as Japan is in our overseas expansion plan for next year. South Korea and the UK would be our next focus after Japan.
We also do not rule out the possibility of introducing restaurants such as Cha for Tea to China, but not at this time -- probably in three years. My plan is that, after setting up 20 Cha restaurants in Taiwan, we may open the first such restaurant in China, either in Beijing or in Shanghai.
TT: In your plan for Cha restaurants overseas, will you mainly target Chinese neighborhoods abroad?
Lee: We opened several Cha restaurants in Los Angeles and Toronto three years ago on an experimental basis. Currently we are targeting Chinese communities but expect to expand to non-Chinese populations gradually.
TT: Many Taiwanese businesses have moved their operations to China in recent years and hope to reap a bonanza, but plenty of them still lose money. What is the secret of your success?
Lee: It's simple. Do what you are already doing here and take care of the business yourself. Don't simply trust your Chinese partners to take care of the business on your behalf, because often you will find you are in an odd position whereby you're supposed to control the company, but your Chinese partners actually control everything and don't listen to your instructions. Other advice for Taiwanese businesses is that you'd better have enough capital before you try to set up shop in China. Remember, in a society with a poor legal structure, it is easy for corruption to flourish.
TT: What are the prospects for Taiwan's economy after the upcoming presidential election?
Lee: No matter who's elected in the presidential election, as long as the president keeps the island's whole population in mind, the economy is going to fare well. But I really hope the government can remove all restrictions on cross-strait links as soon as possible, as liberalization will help develop Taiwan's economy. I also believe relaxation would be helpful in bringing some stability to cross-strait relations.
Some say direct links will only result in companies' leaving Taiwan at an even faster rate, with only debt remaining in Taiwan. That is possible, but you cannot apply this idea to all Taiwanese businesspeople.
Take Formosa Plastics Group (
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