Japan crowdfunding site Makuake sets up shop in Korea, targets $13M+ in deals by mid-2022

MiRyeong Kim, Head of Makuake Korea
Image credit: Makuake

Japanese crowdfunding platform Makuake (TSE:4479) announced on Thursday that it has set up a subsidiary and an office in Korea as the first one outside its home turf. They expect to help Korean companies expand into the Japanese market by encouraging the latter to launch campaigns on the platform. They appointed their global team manager MiRyeong Kim as the head of a local subsidiary in Korea.

Prior to Makuake, Kim finished her master’s degree in economics at Kyoto University and then participated in establishing an overseas subsidiary of CyberZ. She won the Newcomer Award at CyberAgent (TSE:4751), the former parent company of the crowdfunding platform. She contributed to founding the global team at Makuake, having been focused on curating overseas projects from Taiwan, Korea, and China.

In 2017, Makuake partnered with the Korea Trade-Investment Promotion Agency (KOTRA) to help curate applicants for crowdfunding campaigns from Korea. Subsequently, the company partnered with Korean counterpart Wadiz to send campaign hosts to each other in 2018. It has helped about 600 projects from Korea including Bluetooth-compatible speaker table Mellow (securing about $219,000 through two campaigns) and laser rangefinder VH-80 (over $91,000).

Makuake targets over $13 million in transacting crowdfunding campaigns from Korea by June next year. Earlier this year, the company partnered with US-based crowdfunding giant Indiegogo to help Japanese startups expand into the US and global markets.