Simple Project

About Simple Project

Simple Project Company operates as a specialized company builder within the Food and Beverage (F&B) sector, primarily known for its pioneering shared kitchen platform, 'Wecook'. Established in 2015 by CEO Kim Ki-woong, the firm is headquartered in Seoul, South Korea. The company's genesis stems directly from its founder's personal experience. After a seven-year career as a derivatives trader, Kim Ki-woong launched a lunchbox delivery business, inspired by the growth of home meal replacements in Japan during its economic downturn. He quickly encountered the significant financial hurdles of high initial investment and fixed operational costs that plague many F&B startups, which inspired him to create a solution.

The core of Simple Project's business is Wecook, which introduced the shared kitchen model to South Korea. This platform provides food entrepreneurs with access to commercially licensed kitchen facilities, significantly lowering the barrier to entry by reducing upfront capital expenditure on rent and equipment. The business serves a range of clients, from aspiring chefs testing new menus to established businesses focusing on food manufacturing or delivery services. Wecook offers several types of shared kitchens, including spaces for manufacturing/distribution, delivery-only operations, and dine-in restaurants. Revenue is generated by renting these fully-equipped kitchen spaces for flexible periods.

Beyond physical space, Simple Project positions itself as a comprehensive F&B business platform and accelerator, aiming to solve structural problems in the industry. The company provides a suite of support services designed to foster sustainable growth for its clients. These services include business incubation, operational consulting, joint purchasing of ingredients to achieve economies of scale, and support with securing sales and distribution channels. Since its inception, the company has accumulated a vast amount of data on food business operations, which it leverages to provide data-driven insights and solutions to its users, moving them away from speculative decision-making. The company has successfully secured multiple funding rounds, including a Series B, and has attracted investment from notable backers like Lotte Accelerator, which also collaborates on business synergies with its retail and food affiliates.