Both made from fermented rice but Makgeolli is a alcoholic beverage, and Sikhye is non-alcoholic. Also they looks quite different. Makgeolli is milky and Sikhye contains grains of cooked rice. I can't tell you difference in taste between them, cause I'm not legal age for drinking alcohol. But Sikhye is sweet. Hope this helps.

Well... sikhye is sweet. I've made makgeolli, and it is a starchy-sour drink.