[Kitchen Appliances] B2B→B2C: How PN Pungnyeon, a Leading Kitchen Appliance Brand, Expanded Its Customer Base Through Funding

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From PN Pungnyeon Maker
"Kitchen Appliance Funding Campaign a Success"

PN Pungnyeon Maker Profile

3-Line Summary

• PN Pungnyeon, a leading Korean kitchen appliance brand celebrating its 70th anniversary, has raised over 400 million won through funding for its pressure rice cooker, the“Pungnyeon Honey Rice@Home.”  
• The company decided to launch a funding campaign on wadiz to shift its image, which had long been associated solely with pressure cookers.
• Through funding, the company reached a new customer base different from its traditional one, raising brand awareness, and was able to incorporate genuine, real-time feedback into product improvements.

  
  

Enjoy the pot-cooked rice from a time-honored traditional Korean restaurant right at home,
“Pungnyeon Honey Rice at Home,” which raised hundreds of millions of won in funding

Q. Hello. Could you please introduce PN Pungnyeon and yourself?

Hello. I’m Choi Min-ji, Assistant Manager of the Online Team at PN Pungnyeon . PN Pungnyeon is the first company in Korea to develop a pressure cooker. It’s one of the brands that comes to mind when our parents’ generation thinks of “pressure rice cookers.”We started in 1954and will be celebrating our 70th anniversary next year. Based on our technical expertise rooted in craftsmanship, we are introducing a variety of products to lead South Korea’s kitchen culture. On wadiz, we’ve launched a cast-iron pot, a vacuum blender, and the “Pungnyeon Honey Rice @Home”—a pressure rice cooker for 1–2 people—through funding.

The origins of Pungnyeon Honey Rice At Home: Originally sold to store owners

Q. Since it cooks 1–2 servings of rice in a short amount of time, I think this product stands out from conventional pressure cookers. 
Could you tell us what inspired the development of “Pungnyeon Honey Rice At Home”?

Originally, “Pungnyeon Honey Rice EtHome” was a B2B product—that is, a product launched for owners of traditional Korean restaurants and rice pot specialty restaurants. Previously, the system consisted of a large rack with multiple pots attached, and rice was cooked fresh upon pressing a button as soon as an order was placed. The origins of Pungnyeon Honey Rice Et Home began when we removed individual pots from that large-rack set and provided them to restaurant owners for testing. 

Then it suddenly occurred to me,“What if we released this for home use?” From a consumer’s perspective, it was a great product that could cook delicious rice in a snap with just the push of a button. At the time, interest in home-cooked meals was on the rise due to the pandemic, and there was a trend toward various rice cooker recipes, so I worked with the Brand Manager to request that the R&D team develop a home-use version. After going through various stages, “Pungnyeon Honey Rice At Home” was launched.

Putting ourselves in the users’ shoes
we identified the product’s strengths and areas for improvement firsthand

The “Pungnyeon Honey Rice @Home” Encore Funding Campaign, which concluded in December 2022

Q. I heard that the cumulative funding for “Pungnyeon Honey Rice @Home” exceeded 400 million won. 
What was the internal reaction to this funding success?

During the first funding round, the inventory we had prepared sold out in about two hours as soon as we announced the project. It was such an unexpected success that everyone was both surprised and delighted. We conveyed the meticulous effort and care that went into the Rewards through our Story, and after supporters carefully reviewed it , they trusted our technical expertise and sincerity and backed the project. Achieving this positive result gave our team members confidence in the “PN Pungnyeon” brand. It also served as a catalyst for us to devote even more effort to wadiz funding.

Q. What do you think were the factors behind the funding campaign’s success?

I believe it’s because everyone involved in product development and funding preparation—including myself, the Business Manager, the design team, and the research team—gave it our all with sincerity and passion.Before launch,the Business Manager and I used the product ourselves to identify its strengths and areas for improvement. It was a great opportunity to view the product from a user’s perspective. At the time, I was a working professional who had recently gotten married, so Pungnyeon Honey Rice’s ability to help me prepare quick, easy, and delicious home-cooked meals really resonated with me. Since our main target audience was people like me, it was easy to figure out how to appeal to supporters so that the product would look attractive to them.

Pungnyeon Honey Rice “At Home” Funding Story

Based on my experience using the product, I drafted a story outline from the supporter’s perspective, and the design team brought it to life beautifully. It was a fairly lengthy story that captured all the product’s strengths, and they structured it to be visually engaging. They incorporated various GIFs and added variations in layout and typography throughout.

Finally, the R&D team worked tirelessly to transform a product originally sold in the B2B market into a consumer-ready product. Developing a household appliance required several steps, such as obtaining new safety certifications, and they successfully navigated every one of them. 

In this way, every team member dug deep with relentless dedication, ensuring that not only the product’s quality but also every single detail was perfected. I believe this is why our sincerity resonated with our supporters and ultimately led to such a positive outcome.

Q. Were there any challenges during the project? 

During the first funding campaign for Pungnyeon Honey Rice @Home, the rewards we had prepared sold out quickly—even before the fundraising period ended. As requests for more stock poured in, we received many inquiries asking us to “add a 3–4-serving set.” It wasn’t a major problem, but since it was our first project, it was quite disconcerting. (Laughs)

Fortunately, a *wadiz Expert with extensive funding experience guided us in the right direction.Instead of lettingthe product sell out, theyadvised us to increase the inventory for both the 1–2-serving and 3–4-serving sets and quickly post updates in the “News” section to address the demand. We held an emergency internal meeting and were able to quickly increase production. Thanks to that, we resolved the issue successfully and, as a result, were able to achieve a higher funding goal. 

wadiz supporters who focus on the product itself rather than the price

PN Pungnyeon’s First Funding Product: The Production and Quality Inspection Process for Cast Iron Pots

Q. What prompted you to choose wadiz for your funding campaign instead of other platforms?

Wadiz is a platform where supporters listen more to the story behind the product than to the price. We decided to launch a funding campaign on wadiz because we wanted to showcase theproductdevelopment process and results in detail.Onour previous platform—an online shopping mall—price competition was extremely fierce. The products were excellent, but the structure made it difficult to attract consumer attention even with detailed descriptions. We often felt discouraged when sales were low, even though we wanted many people to try our products.

On the other hand, wadiz supporters tend to be deeply engaged with the stories behind products. That’s why we saw it as a space where we could present the products we’d created with genuine care exactly as they are, and we’d been waiting for the right opportunity. Just then, a wadiz representative approached us and suggested we try a funding campaign, which is how we were able to launch our first project.

Q. Since your first product for funding—the cast-iron pot—you’ve been consistently launching products on wadiz.
What is the reason you continue to run funding campaigns on wadiz?

There are various reasons, but I can highlight three main ones. First, “The opportunity to reach customers of different ages and genders than our existing customer base’; second ‘the opportunity to receive honest feedback from them’, and finally “the fact that we can compete based on our technological capabilities and product quality rather than the brand itself”.

Our main customer base used to be women in their 40s and 60s, and we had a very strong brand image as a “company that makes pressure cookers.” However, through our wadiz funding campaign, we were able to reach not only men but also customers from younger generations.We alsoreceived a lot of feedback saying that, based on our solid technical expertise in making pressure cookers, we’re good at making other products as well. Hearing people say, “I bought this because I trust PN Pungnyeon,” really gave us a boost. 

Beyond that, comments on product improvements are one of the main reasons we continue to run funding campaigns. These comments can be directly applied to creating better products, so they’ve been a huge help. 

We’ve revamped various elements—such as the wooden lid and wooden pot stand—based on feedback from our supporters.Q. What specific feedback actually helped with product improvements?

We generally review most feedback in detail, share it with our research team, and incorporate it into product improvements as much as possible. One piece of feedback that stands out in particular is regarding improvements to the handle of the “Bountiful Honey Rice” pot. There was a hole in the handle, and after receiving feedback that the edge was sharp, we polished each unit one more time for subsequent shipments.

Q. What was the most memorable moment for you while communicating with supporters?

It was when we held a “honey rice” acrostic poem contest as part of an event. One supporter wrote a truly touching acrostic poem, and that left the deepest impression on me. 

Honey: I can no longer see the look in your eyes—the way you used to gaze at Mom as if honey were about to drip from them—now that she’s alone.
Rice: I prepared this delicious meal because I want to see you happy, even if only at the dinner table. To Dad.

This is the first-place acrostic poem. Beyond that, I received a lot of words of cheer from many supporters as we communicated. I was truly grateful, and it gave me a lot of strength.

Q. Have there been any changes since launching the wadiz funding campaign?

The wadiz funding campaign served as an opportunity to further highlight PN Pungnyeon’s strengths.It allowed us to widely demonstrate that we don’t just make greatpressure cookers—we also use that same technical expertise to create high-quality kitchenware. While the brand had a strong image as a pressure cooker brand among our parents’ generation—which is a given—I believe we’ve now further solidified our image as a kitchen appliance brand with robust technical expertise that has been an integral part of Korean dining culture. 

wadiz Home & Living Category,
Reaching New Audiences and Raising Brand Awareness

Q. What was your overall impression of the wadiz Home & Living category, where you ran your funding project?

I felt it was a treasure trove of inspiration for kitchen appliance companies.There were so many Rewards that showcasednewideas and were truly appealing. I found myself marveling, “Wow, you can do it this way, too.” I got the impression that it’s a place where you can learn about products, Stories, and even home living trends.

Q. I’m curious if the Home Living category was a suitable market to showcase your product to your target audience. 

Our target audience was single- or two-person households, as well as people looking to buy gifts for them, and wadiz’s Home Living funding campaign was a perfect fit. While some backers participated to use the products themselves, many also backed the funding campaign to buy gifts for their children, parents, or married friends.

Also, as I mentioned earlier, it was a great opportunity to reach new customer segments in terms of gender and age. Looking at the Supporter's reviews for the project, we found that, in addition to our main target audience—women in their 40s to 60s—many men and women in their 30s also participated as supporters.

Q. What home living (kitchen appliance) trends does PN Pungnyeon foresee for one- and two-person households?

Living spaces for one- and two-person households are typically compact. Therefore, I think compact products that offer both convenience and design optimized for small spaces will gain popularity. At the same time,I believe products that add fun to everyday life will lead future trends—for example, “trendy items” like the Jinro Soju Dispenser or the Doni Doni Grill Pan, which is currently running a funding campaign. 

If you’ve created a product with love,
give funding a try on wadiz!

Q. Please share a few words of advice for those preparing a wadiz funding campaign.
Feel free to share your know-how, insights gained during the funding process, advice, or precautions—anything at all.

For those trying funding for the first time, it might feel unfamiliar compared to other online marketplaces, and you might feel like there’s a lot to prepare. However, if you use wadiz Experts, you can get a lot of help from your assigned representative. Thanks to that, we were able to prepare smoothly.

And above all, it’s important to have a deep understanding of and passion for your Rewards.If,like us, your company is preparing a funding campaign, roles are typically divided among various teams. It’s essential for the funding manager to be fully familiar with all aspects and coordinate them so everything comes together seamlessly.

Q. Finally, could you tell us about PN Pungnyeon’s future plans?

We plan to expand our product categories from kitchen appliances—which are currently our main focus—to everyday household items. We aim to apply our technological expertise to a broader range of products and become a company loved by many people. 

We also plan to continue running funding campaigns on wadiz. Currently, we’re running campaigns for the pig-shaped “Donidoni” grill pan, which adds fun to grilling meat, and a steam-only humidifier that heats water to 100°C. PN Pungnyeon will continue to use our outstanding technology to make daily life more enjoyable and convenient, so we ask for your continued cheer and interest.

Interviewee: Choi Min-ji, Assistant Manager, PN Pungnyeon Text Nam Hyun-sol Edited by Han Ji-hye