Ministry of Culture, Sports and Tourism Supports Commercialization of 140 Venture Companies Leading Innovation in Tourism Ventures

Ministry of Culture and Tourism Organization Selected a Total of 140 Projects Through February Contest

The bicycle travel service platform 'Roundel (ROUNDEL)', selected for the tourism venture project supported by the Ministry of Culture, Sports and Tourism and the Korea Tourism Organization.

[Asia Economy Reporter Kim Heeyoon] The Ministry of Culture, Sports and Tourism announced on the 29th that it has conducted the "13th Tourism Venture Business Contest" in collaboration with the Korea Tourism Organization to discover innovative business ideas in the tourism sector and has selected a total of 140 projects as final support targets.

Through this contest, 35 preliminary tourism ventures, 70 early-stage tourism ventures, and 35 growth-stage tourism ventures were selected.

It was confirmed that the number of companies aiming to export tourism services through overseas market expansion is on the rise among the selected companies. These companies aimed for innovative convergence services that maximize individual travel convenience by combining competitive technologies such as artificial intelligence (AI), Internet of Things (IoT), and augmented/virtual reality with tourism. Representative projects among the selected businesses include tourism-specialized integrated mobility services (Jjimcar), same-day luggage delivery services (Jimcarry), bicycle travel transportation services (Roundel), and AI-based fishing tourism platforms (Eoshin).

Additionally, customized regional content became a major trend. Especially notable after COVID-19, businesses that directly mediate competitive local creators and customers and provide ultra-personalized special experiences through subscription-based experiential services stood out. Selected projects include a local creator content mediation platform (Somssidang), gourmet travel services using local ingredients (Foodion), and remote work programs at vacation spots operated by local residents (Local Gravity).

Following recent tourism trends, recommendation services segmented by tourist types and interests have also significantly increased. While companies previously introduced standardized travel products, they now provide customized services by segmenting target tourism markets and analyzing customers’ preferences and hobbies. Selected projects include a children's play platform (Aegiyagaja), a senior tourism helper service utilizing youth (MZ) generation leisure culture (Pofeparents), and a platform providing information on traveling with companion dogs (PetOn).

Selected tourism venture companies will receive commercialization funds ranging from 30 million KRW to a maximum of 100 million KRW. In addition, various support programs such as customized diagnosis and professional consulting, investment attraction, industry collaboration and exchange will be provided, and growth-stage tourism venture companies will be awarded certificates signed by the Minister of Culture, Sports and Tourism.

A Ministry of Culture, Sports and Tourism official said, “Although everyone is facing difficulties due to COVID-19, this project was promoted to enable tourism sector entrepreneurs to realize creative ideas and advanced technologies through innovative startups. We plan to strengthen support for open innovation strategies and test stages for business verification, including investment attraction, market development, and support for global market entry to expand the business of tourism venture companies.”