24 Jeju Small Businesses Expand Sales Channels Beyond Online

[Financial News] The Ministry of SMEs and Startups (MSS) is rolling out support that links online crowdfunding with offline sales events to help small businesses in Jeju expand their sales channels. The initiative aims to bring products showcasing local character to more consumers and help businesses gauge market response through crowdfunding.
 According to the government and other sources on the 25th, MSS is holding “Jeju Local Crowdfunding,” with 24 small businesses in Jeju taking part. The event focuses on combining online sales with opportunities to try and buy products in person, raising awareness of local brands and attracting new customers.
 Crowdfunding is a way to raise funds needed for a business from many participants through an online platform. For small businesses, it can be used not only to raise funds but also to gauge consumer responses to their products and attract early customers. Since 2023, MSS has supported small businesses in raising funds and expanding their sales channels through its “Our Neighborhood Crowdfunding” program.
 Twenty-four local small-business brands are taking part in the sales event, including Barameseuchiwunda, which makes side dishes using agricultural and fishery products from Jeju, and Kakao Family, which uses cocoa roasted in Jeju. The event is expected to give these businesses an opportunity to introduce products made with local resources to online consumers and expand their sales base beyond Jeju.
 Online sales will run from the 26th through the 24th of next month in the crowdfunding section of NAVER Happybean. Offline, two sales events will be held at the LPP pop-up store in Jeju City: from the 29th through the 1st of next month, and from the 4th through the 6th of next month.
 The crowdfunded products will also be showcased at the opening ceremony of the Korea Grand Festival, taking place on the 31st in Andong, North Gyeongsang Province. The event is expected to provide an opportunity to promote the brands by extending their consumer reach beyond Jeju to other regions.
 The event is significant because it allows local small businesses to gauge consumer responses online and promote their products directly offline. It is also expected to give businesses, particularly those with limited distribution networks and marketing capabilities of their own, a chance to experience a range of sales channels.
 Kim Jeong-ju, Director General for Small Business Policy at MSS, said, “We will expand support for connecting small businesses with private-sector funding, as well as support for sales channels and promotion, so they can grow alongside local residents and local commercial districts as a whole can become more competitive.”
[email protected] Kim Hyun-chul Reporter