Kmong: South Korea's growing digital job platform for the gig economy

Whether it's working on cryptocurrency, giving life advice, or managing an Instagram account, the Korean-based online platform Kmong is there to help leverage the gig economy for its users.

For decades, the most desirable career was at a big chaebol, working up the corporate ladder until retirement. And while some still value stability, an increasing number of Koreans are searching for ways to make use of their professional skills outside the confines of a company structure, either through side jobs or by freelancing. 

Behind this shift is the practice of companies signing short-term, task-based contracts with independent workers - the “gig economy.” That term is used for everyone from Uber drivers to high-level professionals, like consultants and lawyers. 

The market is supported by infrastructure that connects buyers of services with the independent sellers of services. 

Established in 2012, Kmong is one of the oldest and largest in the business. In three rounds of funding, it brought in 14.7 billion won ($12.5 million). 

Kmong’s website and app offer marketplaces in 11 categories, including marketing, translation, programming, private lessons and fortune telling. More than 200,000 tasks are registered on the website. Clients can rate the task provider on a five-star scale, and the top five earners for each category have their usernames pinned on the website. 

“We’re different from headhunters or outsourcing agencies in that we don’t propose hires - instead we cater to immediate needs for short-term projects or specific tasks, like translating an investor-relations report,” said Kmong CEO Tony Park. 

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