Currently, living with COVID-19 under certain protective measures still continues as the “new normal” for most of the world. The disruption that the pandemic has caused to societies and economies, especially to the restaurant industry, may last longer than some had thought. This study intended to find out the key drivers of consumers’ dining-out intentions and their internal relationships. We adopted the structural equation modeling (SEM) method with 508 surveys collected from China and Korea. The results were as follows: perceived psychological risks, subjective norms, and enjoyment are influential to consumers’ dining-out intentions but not restaurant precautionary measures or perceived physical risk; subjective norms have direct implications on both perceived psychological and physical risks, while restaurant precautionary measures can only significantly affect perceived physical risk; enjoyment can be negatively influenced by perceived psychological and physical risks; country can moderate the relationships between subjective norms, perceived physical/psychological risk, and enjoyment. This study provides further understanding of the current food consumption patterns, which will help restaurants set up strategies accordingly to sustain their businesses and get them more prepared for any future outbreaks.