Tourism Organization Supports Tourism Companies Through Crowdfunding Campaigns

Applications open until the 27th... Over 30 companies to be selected
Simplified registration process for participating companies and enhanced promotional support

The Ministry of Culture, Sports and Tourism announced on the 5th that it is recruiting companies to participate in the "Tourism Enterprise Crowdfunding Support Project" in collaboration with the Korea Tourism Organization. Photo by Korea Tourism Organization

[Asia Economy Reporter Kim Heeyoon] The Ministry of Culture, Sports and Tourism announced on the 5th that it is recruiting companies to participate in the 'Tourism Enterprise Crowdfunding Support Project' in collaboration with the Korea Tourism Organization.

Crowdfunding is an online private small investment system that raises funds from the public through the internet. The recruitment types are divided into securities-type and sponsorship-type. About 30 companies will be selected through document and presentation evaluations, and applications are open until the 27th.

The organization will hold an online business briefing session for pre-registered companies on the 8th of next month. Pre-consulting will also be provided to those who wish to participate in the briefing. Detailed information on registration for the briefing and participation in the public offering can be found on the Tourism Enterprise Support Center website under 'Notices.'

Companies selected as support targets will receive 1:1 consulting for opening funding, online marketing services, and other support. If the funding is successful, partial budget subsidies and follow-up growth consulting will also be provided.

The organization plans to establish 'PICKR,' a tourism enterprise crowdfunding product exhibition and promotion hall, on the first floor of the Seoul Center, where prototypes of products currently being funded will be displayed, and successful funding products will be exhibited and sold.

Additionally, from the 18th to the 26th, companies will be recruited to participate in the 'Customized Investment Attraction Activation Support Project in the Tourism Sector.' This project supports customized investment attraction education and consulting, investment advisory, investor relations (IR), networking between tourism enterprises and investors, and promotion.

Kang Gyusang, head of the Tourism Enterprise Development Team at the Korea Tourism Organization, said, "Through last year's crowdfunding support project, the fine stay curation reservation platform 'Stayfolio' attracted 190 investors and raised 190 million KRW, achieving notable results," adding, "We expect that the investment attraction support project for tourism enterprises will provide an opportunity to revitalize the tourism industry, which has been weakened by COVID-19."