Food, beauty and fashion products showcasing Jeju's character on offer
Online and offline sales run through Nov. 24, with discounts of up to 20,000 won
The Ministry of SMEs and Startups is hosting an online and offline crowdfunding sale to help small business owners in Jeju expand their market reach.
The ministry announced Sunday that "Jeju Local Crowdfunding," an event showcasing products from small businesses that capture the character of Jeju, will run from Monday through Nov. 24.
Twenty-four small businesses based in Jeju are taking part, offering a range of locally distinctive products — from processed foods made with Jeju agricultural and marine ingredients to cosmetics, fashion items and lifestyle goods.
Among the featured participants is Barameuscheunda, which makes banchan — Korean side dishes — using produce from Jeju farmers and haenyeo, the island's traditional female divers. Kakao Family, which uses cacao roasted on Jeju to make chocolates and cacao tea, is also taking part.
Other participants include Takoco, which sells taco meal kits made with Jeju black pork, and Seongsan Gwajajjeom, which offers granola made with Udo peanuts and Jeju honey.
Shoppers can purchase products from participating brands at discounts of up to 20,000 won ($15). A prize event also offers up to 200,000 won in Naver Pay points.
Online sales will run through Nov. 24 on the funding section of Naver HappyBean's website. Offline sales will be held at Jeju LPP (Local Player Platform) on Gwandeok-ro 8-gil in Jeju on two separate occasions: Thursday through Saturday of this week, and from Nov. 4 through Nov. 6.
The Nov. 5 sale will be held in conjunction with the first Jeju Local Startup Festa, with the aim of promoting quality products and brands from local startups and encouraging consumption of locally made goods.
Jeju local crowdfunding products will also be on display at the opening ceremony of the Korea Grand Festival in Andong, North Gyeongsang Province, on Saturday.
For small business owners, crowdfunding serves not only as a way to secure early-stage funding but also as a channel to gauge consumer response before committing to mass production or entering formal retail networks. Businesses rooted in a particular region stand to benefit especially, as online funding allows them to reach consumers beyond their local area — a prospect that has generated considerable interest in the industry.
The Ministry of SMEs and Startups has been supporting small business owners with funding and market access through its "Our Neighborhood Crowdfunding" project since 2023. Crowdfunding is a method of raising capital for a project by collecting contributions from a large number of participants, typically through an online platform.
Through the program last year, 1,746 small businesses raised a combined 21.93 billion won ($16.6 million). Through September this year, 1,066 businesses had raised 13.29 billion won.
One notable success story is Mymymy, a food company in Gangneung. The business packaged its popular mara sausage — a hit among regulars — into a home-use product and averaged 2.48 million won in daily sales during the Gangneung local crowdfunding period in August.
"Our Neighborhood Crowdfunding is a valuable tool for introducing quality products from local startups that struggle to find market access," said Kim Jeong-ju, the ministry's director general for small business policy. "We will continue to expand private funding linkages and support for market access and promotion, so that small business owners can grow alongside local residents and entire local commercial districts can become more competitive beyond individual storefronts."
boo@heraldcorp.com
