Prepare the Beef: Season the beef chuck with salt, black pepper, smoked paprika, and dried thyme.
Sear the Beef: In a large pot or Dutch oven, heat the olive oil and butter over medium-high heat. Add the beef in batches, searing each piece on all sides until browned.
Cook the Aromatics: In the same pot, add the minced garlic and brown sugar, stirring for about 1 minute until fragrant.
Thicken with Cornstarch: Sprinkle the cornstarch over the garlic mixture and stir for about 1-2 minutes to remove the raw flour taste.
Add the Remaining Ingredients: Pour in the low-sodium soy sauce, beef broth, and tomato paste, stirring well to combine. Add the seared beef back into the pot, along with the peeled shallots and baby potatoes. Bring the stew to a simmer.
Slow Cook the Stew: Reduce the heat to low, cover, and let the stew simmer for 1.5 to 2 hours, or until the beef is tender and the flavors are well developed. Stir occasionally to prevent sticking.
Enjoy: Sample the dish and modify the seasoning as necessary. Serve it hot, topped with fresh herbs if you like, and savor it alongside crusty bread.