Interpark Announces Merger with Triple... "Leap to a Global Travel Tech Company"

Interpark's Extensive User Base Combined with Triple's Technical Capabilities

[Asia Economy Reporter Kim Cheol-hyun] Interpark and Triple announced on the 8th that they held board meetings and approved the merger agenda of both companies. The surviving entity after the merger will be Interpark, and all procedures including the shareholders' meetings of both companies will be completed by the end of next month, with the merger date planned for August 1. The new corporate name and management team of the merged company will be announced later.

Interpark started its service in 1996 and has led the online travel and e-commerce market. Last October, Yanolja acquired 70% of its shares, and since April this year, it has been incorporated as a subsidiary of Yanolja. Triple is a platform that provides customized travel products and content such as airline tickets, hotels, tours, and admission tickets based on big data. In December 2020, it attracted an investment of 10 billion KRW from Yanolja.

The merger of the two companies is described as a preemptive measure to secure an advantage in the fierce competition that is taking place as the overseas travel market fully reopens. The strategy is to establish leadership in the domestic and international travel markets based on the core competencies of both companies: Interpark, which has a broad user base, sales power with airlines, and influence in the individual airline ticket market, and Triple, which has built extensive travel content and technological capabilities. They also plan to actively advance Interpark's ticket reservation business as well as its shopping and book businesses.

An Interpark official said, "Through this merger, we have created an opportunity to provide hyper-personalized customized services across all areas of overseas travel, including detailed information on overseas travel destinations, flights, accommodations, leisure, and packages," adding, "We plan to actively expand our entry into the global travel market through a more advanced proprietary platform."