What was the Botaem Sanghoe crowdfunding campaign and how much did Seoul small businesses raise?

Botaem Sanghoe was a Seoul-backed reward-based crowdfunding campaign held on Wadiz from Aug. 3 to Sept. 18. About 100 small businesses collectively raised 850 million won through approximately 15,000 backer pledges.

How did the preorder model help businesses participating in Seoul’s crowdfunding campaign?

Businesses produced goods only after customers placed orders, which lowered upfront production costs and inventory risk. The model also enabled vendors to test demand and collect customer feedback before entering new online markets.

Seoul-backed crowdfunding campaign raises $632,000 for small businesses

Q: What support will Seoul provide to top-performing businesses after the crowdfunding campaign?

Top-performing businesses will receive an advantage in next year’s online sales support program, including product assessments, consulting, marketing content and meetings with major retail buyers. Businesses prepared for overseas expansion will receive help entering platforms in North America and Japan.

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Summary

About 100 small businesses in Seoul raised 850 million won through a city-backed crowdfunding campaign on Wadiz from Aug. 3 to Sept. 18. The Botaem Sanghoe campaign attracted around 15,000 backer pledges and helped vendors test products, reduce inventory risks and reach online consumers. Seoul plans to give top performers priority in next year’s online sales support program and assist businesses entering platforms in North America and Japan.

Key Facts

The campaign included 50 companies from Seoul’s comprehensive support program for small businesses and was organized with the Seoul Credit Guarantee Foundation.
Around X’s alpaca coat raised about 126 million won from 398 backers, the highest amount for an individual product.
The preorder model allowed businesses to make products after receiving customer orders, reducing upfront production costs and inventory risk.
Daedaeng Dongnip Manse’s absorbent pet pad reached 6,862 percent of its funding goal and ranked among the top pet products.
Support included 20 to 30 percent discount coupons, artificial intelligence training for online product pages and one-on-one consulting on online platform entry.

By Jhoo Dong-chan

Published Oct 14, 2026 4:31 pm KST

A crowdfunding campaign page for an alpaca coat project under Seoul’s Botaem Sanghoe initiative on crowdfunding platform Wadiz / Courtesy of Seoul Metropolitan Government

About 100 small businesses in Seoul have raised a combined 850 million won ($632,000) through a city-backed crowdfunding campaign, helping local entrepreneurs bring their products directly to online consumers, the Seoul Metropolitan Government said Wednesday.

The campaign, called Botaem Sanghoe — which translates to "Helping Hand Shop" — attracted around 15,000 backer pledges. Organized alongside the Seoul Credit Guarantee Foundation, the initiative ran from Aug. 3 to Sept. 18 on Wadiz, Korea’s leading reward-based crowdfunding platform, giving promising small vendors hands-on experience in digital marketing and online sales.

Participants included 50 companies from the city’s comprehensive support program for small businesses.

The campaign used a preorder model, in which products are made only after customers order them. This lowers upfront production costs and inventory risk, and lets businesses test demand and gather customer feedback before entering new online markets.

An alpaca coat by fashion brand Around X raised about 126 million won ($93,800), the most of any product, with 398 backers.

The city and the foundation also offered support based on each business’s needs: discount coupons of 20 to 30 percent to boost sales, training on using artificial intelligence to create online product pages and one-on-one consulting on entering online platforms.

Pet products maker Daedaeng Dongnip Manse reached 6,862 percent of its funding goal with an absorbent pet pad, ranking among the top pet products. “The discount helped us increase online sales, and we plan to use the funding for product research and development,” the company’s CEO said.

The city will give top-performing businesses an advantage in next year’s online sales support program, which offers product assessments, consulting, marketing content and meetings with buyers from major retailers. Businesses ready to go overseas will get help entering global platforms in North America and Japan.

The foundation will hold public lectures and one-on-one consulting for participants in October and November.

“This collaboration is meaningful because it goes beyond a one-time online sale, helping small business owners test product marketability through consumer feedback and expand their domestic and international sales channels,” said Kim Kyung-mi, head of the Small Business Policy Division at the Seoul Metropolitan Government.

“For small business owners who struggled to find market entry opportunities despite having great products, we will continue providing tailored training, consulting, and sales channel expansion to help them reach larger markets.”

This article was published with the assistance of generative AI and edited by The Korea Times.

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