Capital Wealth
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Fall Books · Cookbooks · Estate

One Korean grocery in Queens in 1982 became nearly 100 stores. Now the founder's daughter has written the cookbook

Three cookbooks open up the aisles of Japanese, Korean and Chinese groceries. One of them is also a succession plan in public. The founder's daughter is H Mart's president, and she wrote its manual.

By Sean Anees Saifi · Capital Wealth · Published Sunday, October 11, 2026 · Source: The Wall Street Journal, October 10–11, 2026 weekend edition, whose market figures are the Friday, October 9 close (Fall Books)
Key Points
1982
Il Yeon Kwon opens his first supermarket in Queens, N.Y.
Nearly 100
H Mart supermarkets across the country today
$50
List price of the H Mart cookbook, 336 pages
5
Flavors in Five Tastes: sour, bitter, sweet, pungent, salty
A bowl of sliced cucumber salad with red chili flakes sits beside a ceramic pot of steaming rice and wooden chopsticks on a marble kitchen counter in window light.
The H Mart book's guides walk a newcomer through the aisles. The chain grew from one Queens store in 1982 to nearly 100.
In one line: Three Asian cookbooks get a good review, and one of them is the second generation of a family business explaining that business to strangers.

Andrew Coe's parents used to tell him that every new food he tried would add to his life. He's still collecting. In the Journal's Fall Books section he cooks his way through three new Asian cookbooks and likes all three. One of them has a story behind it that interests us more than the recipes. H Mart is written by Stacey Kwon, the president of the Korean supermarket chain. Her father started it with one store.

Il Yeon Kwon came to the United States as an immigrant and opened his first supermarket in Queens, New York, in 1982, the review says. Today the chain has nearly 100 stores across the country. It began as a place for Korean immigrants to find their own food, and for curious eaters to try it. Coe is honest about the book. Part of it, he admits, is a long advertisement for the chain. He also calls it a real success story and a useful guide. A first trip into an H Mart can overwhelm you, he says. Rows of bags and jars you can't place. The book answers with illustrated guides to the shelves, from kimchi and produce to dried noodles and snacks. It even explains how a Korean barbecue dinner is eaten, with meat and rice wrapped in lettuce leaves.

The recipes run from traditional to modern. They begin with banchan, the small side dishes that come with a Korean meal. The spicy cucumber salad gets its heat from gochugaru, ground red chili flakes. Not every dish suits every table. The review mentions pork in some of the H Mart dishes, and rice wine in the other two books, so read before you shop. Coe's wish at the end says a lot. He'd love the same kind of book for other Asian markets.

The other two books

Japanese Comfort Cooking by Tadashi Ono and Harris Salat follows their Japanese Soul Cooking (2013). It opens with dashi, a stock made from kelp and bonito flakes. Coe used it for rice cooked with octopus, and the rice crisped at the bottom of the pot. One miss, he says. A duck-and-mushroom stew calls for just two cups of stock, too little for the dry ingredients or for four diners. Fuchsia Dunlop's Five Tastes is organized around sour, bitter, sweet, pungent and salty. Coe calls her “probably the premier interpreter of Chinese food for Western audiences.” She has written five cookbooks, including The Food of Sichuan (2019), plus a memoir and a food history. His side dish of stir-fried lettuce with a cream of fermented tofu made him wonder why nobody puts it in a Caesar salad.

Our read

This is Estate planning in its business form, succession, with Career underneath. The review gives the family story a few sentences, and we won't inflate it. A founder opened one store. His daughter is now president of a chain with nearly 100 of them. And she has written the public manual that explains the business to a stranger. That's what a working succession looks like. The next generation can run it and can explain it. Many family businesses we meet have the first half at best. The owner knows everything, and nothing is written down.

If you own a business, you'll hand it off one day, one way or another. The only choice is whether a plan exists on paper while you're healthy enough to argue about it. Who runs it next. Who owns it. How the money reaches the family members who don't work there. Cooking from a good cookbook is a fine way to spend a Sunday. Writing the one for your own business is a better one.

What It Means For Your Portfolio

Hold. Write down who runs the business next

No portfolio action. The planning takeaway is that a family business needs a successor who can run it and explain it, in writing, before it's urgent.

General planning principles, not advice for anyone in particular. If you own a business, name the successor in writing and date it. Add a one-page explanation of how the business makes money that a stranger could follow.

Decide how family members who don't work in the business are treated. Life insurance, a buy-sell agreement or a simple written split can keep the business whole and the family talking. A buy-sell agreement is a contract that says who buys an owner's share, and at what price.

Book a 15-Minute Review → Back to Edition No. 183 →