Yeon Jin-guk, an intern researcher at the Funding Institute. Filled with determination and passion, Yeon Jin-guk has finally been assigned his first task.
“Hey, intern researcher, would you like to write a funding research log?”
Yeon Jin-guk, who got scolded on his first day of work for confusing "cloud" with "crowd" (
How on earth did you end up becoming a research intern?Will he actually be able to carry out the mission successfully?Here begins Yeon Jin-guk’s Funding Exploration Journal.
It feels like I just started at the Funding Lab yesterday, but quite some time has already passed. I’ve been studying hard and have even started my first project, the research journal—I’m giving myself a round of applause! Maybe it’s because I’ve been working so hard? I suddenly feel like running off somewhere. These days, the sky seems especially high, and it feels like everything I eat tastes delicious—it’s that kind of season.
Is everyone feeling the autumn blues? Social media is flooded with posts bragging, “I went here!” Come Monday lunchtime, our researchers are always chatting nonstop about where they went and what they ate over the weekend. No one really cares what they bought—or maybe they didn’t buy anything at all. (Probably because prices have gotten so outrageous.)
Looking around, it certainly seems that the current consumer trend is more about “experiences” than “ownership.” My name is Yeon Jin-guk. As a professional researcher who analyzes funding based on objective data, I took a closer look at this trend. According tothe “July Accommodation and Food Services Production Index” from the National Statistical Portal of Statistics Korea, the index rose by about 30% compared to the same month last year. In contrast, the goods consumption sales index has declined for five consecutive months, with consumption falling across categories such as passenger cars, home appliances, furniture, cosmetics, and food and beverages. A government official reportedly stated that as rising inflation leads to higher prices for goods, consumption patterns are shifting toward services…
Come to think of it, even I—the Consumption Fairy and Funding Fairy—find myself wanting to eat delicious food and visit nice places rather than owning things. Guess I was riding that trend after all.
Crowdfunding is a mecca for trendsetters. This is likely because it’s full of intriguing and useful rewards, as well as promising brands with genuine passion.
Crowdfunding is riding the wave of today’s consumer trends, where intangible services are all the rage. Since these projects are difficult to launch through traditional service models, they take on more diverse and distinctive forms—each equipped with its own unique weapon.
Alright, so that’s it for Day 7’s topic! Let’s see what happens Let’s find out. Let’s go on a trip with crowdfunding! GO!
A trip that’s only possible through crowdfunding
If you love alcohol—especially traditional Korean liquor—there’s a travel project you simply can’t pass up. This journey through Korea’s traditional liquors is a trip by enthusiasts, for enthusiasts, and all about enthusiasts. Gyeonggi & Gangwon Part 1, Part 2and Chungbuk & Gyeongbuk , allowing supporters to choose which breweries to visit. Here, supporters can encounter a variety of traditional liquors, including makgeolli, distilled spirits, and sparkling wines reinterpreted in our own unique style.
Baesangmyeonju Sansawon, a museum of Korean traditional liquor / Source: [A Glass of Tradition: 2 Days, 1 Night] Gyeonggi & Gangwon Part 1: A Journey Through Korea’s Traditional Liquor
A maker who planned a relay project based on the five concepts of "Spring, Summer, Autumn, Winter, and Fun." This traditional liquor journey project is packed with "fun" from start to finish. In particular, the Gyeonggi & Gangwon episode includes a tour of the Simsul and Neulinmaeul makgeolli breweries—places even those who don’t usually like traditional liquor have likely heard of at least once. Here, participants hear directly from the master brewers about traditional liquor. This journey, which delves deeply into a subject of passion, makes the fingers of supporters who take pride in saying, “I know this pretty well!” or “I really love this!” itch to act. (The fingers ready to click the funding button!)
Omina, the birthplace of schisandra wine. They offer winery tours here! / Source: [A 3-Day, 2-Night Journey of Flavor] Chungbuk & Gyeongbuk Edition—A Journey Through Korea’s Traditional Liquors
There’s also a crowdfunding project for hiking enthusiasts. This project is perfect for supporters who want to enjoy a light, day-trip hike along the Jeongseon Un-tan-go-do Trail. There are few buses running from the train station to the trailhead, and a one-way taxi fare costs about 25,000 won. In fact, taking the train from Seoul to Mindingusan Station in Jeongseon is more affordable. The organizers act as your personal drivers, ensuring you can focus on the trek without exhausting your energy on the way to the Untan-godo Trail. The drivers from Sanari Tourism will serve as your dedicated chauffeurs for the entire day, taking you from Mindingusan Station to several of Jeongseon’s major tourist attractions, then to the Untan-godo Trail entrance, and back to Mindingusan Station.
The Sanari Tour bus drivers are heading to Mindingusan Station to put supporters’ minds at ease! / Source: Backpack on, train ride, and up above the clouds! Enjoying the Jeongseon Un-tan-go-do Trail with ease
What do these two projects have in common?
1. Hiking, traditional liquor, etc. Themes that appeal to enthusiasts. 2. They offer services that would be difficult to try on your own. In particular, the Jeongseon Un-tan-go-do Trekking Project actively addresses these inconveniences. This is made possible by ‘crowdfunding.’
Travel Spaces "Brought to Life" Through Crowdfunding
The basic definition of crowdfunding is when a project creator in need of funds raises money from the general public through storytelling. Although the purposes and methods of funding have diversified recently—including market research and gathering feedback—
Here is a project that faithfully adheres to the basic principles of crowdfunding, even though it offers an intangible reward: “accommodation.” In fact, every review on the portal site is overwhelmingly positive! It is “Jeonju Sihwaryeonpung,” the first project by the local community hotel Alive.
Source: Sihwa Yeonpung website
"Staycation," a new way of traveling that has emerged amid the pandemic. It is said that hotels are the most preferred type of accommodation among Gen Z. This is because the desire to stay at high-quality accommodations has grown significantly. It can be called a megatrend. Through my research on crowdfunding and consumer culture, I’ve identified a particular trend. Human greed knows no bounds (?), and goods and services continue to evolve to meet those expectations! People no longer go to hotels just to rest and sleep; “to choose based on their tastes and enjoy the space and services.” . This is why Sihwaryeonpung, despite its interior construction not being complete and having no actual photos, was loved by 232 people. This place embodies the themes of “local” and “sustainability.”
Maker launched this project with the hope that even small cities in Korea would have a variety of hotels worth visiting. Siwha Yeonpung is a local hotel that bridges the past and the present, a community hotel that connects travelers and local residents, and an eco-friendly hotel that cares for the environment. It strives to achieve these three goals. The Maker’s values are clearly reflected in the hotel lobby, which recreates the former pawnshop Gonggijilok, and in the travel kit prepared in a mother-of-pearl box. In particular, the kit includes a postcard with questions to reflect on the trip and a hand-drawn map of recommended spots. This is where the Maker’s affection for Jeonju truly shines through.
Travel kit available at check-in / Source: " Daily Life and Insight" Naver Blog (ⓒ jerusha0609)
In keeping with its commitment to sustainability as an eco-friendly hotel, the property provides guests with reusable eco-bags for use during their stay. Instead of bottled water, each room is equipped with a water pitcher and cups.
Eco-bags and reusable cups provided in the guest rooms / Source: "Daily Life and Insight" Naver Blog (ⓒ jerusha0609)
The creators introduced Sihwayeonpung’s unique identity in their funding story, and 232 backers came forward. The funds raised were used to complete the space and programs. The unique local storytelling that only Sihwa Yeonpung could offer became the project’s greatest strength.
Travel in a new way with crowdfunding
As I looked at each project one by one, I found them all incredibly appealing. I realized that there are a wide variety of travel and accommodation programs available. It seems that whatever you imagine can become a reality when people come together I’m feeling confident! (Who am I to say that?)
A Hanok stay project recently launched by the Korea Tourism Organization sold out immediately upon opening. This was the result of the keywords “Hanok,” “rest,” and “privacy” striking a chord with people weary from the prolonged pandemic.
Intangible projects—such as travel and lodging—are constantly being launched for crowdfunding. Even as we speak, some creator is designing a travel project, undergoing the launch review process, and running a crowdfunding campaign. It looks like it’s going to be a cutthroat competition among people who don’t skimp on experiences, but I’m signing up for notifications and planning to launch my own crowdfunding campaign for my next project!
That's all for Day 7. Let's go for the funding ticket sale!
View other logs 👀
Episode 1: “My First Assignment Has Been Assigned”
Episode 2: “Funding: One Name, Several Meanings”
Episode 3: “One Heartfelt Story Is Worth More Than Ten Features”
Episode 4: “We Are Gen Z, Launching Crowdfunding Campaigns”
Episode 5: “Is There Such a Crowdfunding Campaign? People Deeply Dedicated to a Single Cause”
Episode 6: “Is There Such a Crowdfunding Campaign? Everyone’s Own Way of Thinking About the Environment”
Episode 8: “Workation: I’m Going on One Through Crowdfunding!”
Episode 9: “SNS Hotspots and Must-Try Restaurants Make Their Crowdfunding Debut!”
Episode 10: “Showcasing Delicacies from Across the Country Through Crowdfunding!”
Episode 11: “Crowdfunding: A Dash of Exclusivity for the Perfect Life”
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