Targeting 50 Million Foreign Tourists Within 5 Years
Developing K-Content Integrated Packages Through Interpark Triple
Plans to Provide Customized Travel Services Using AI Technology
"The goal of achieving 50 million inbound tourists (foreign visitors to Korea) within five years is a challenge I have always wanted to take on."
Lee Su-jin, the CEO who grew Yanolja into Korea's number one leisure platform, emphasized this on the 20th at Interpark's 'Vision Declaration Media Day' held at the Fairmont Ambassador Seoul in Yeongdeungpo-gu, Seoul. Beyond the company's core online accommodation and leisure platform business, Lee expressed the ambition to provide content and technology that can attract foreign tourists, serving as a lever for Korea to leap forward as a leading tourism country.
Lee Su-jin, CEO of Yanolja, presented a plan on the 20th at the Interpark Triple Vision Declaration Media Day to attract 50 million inbound tourists within five years by combining Yanolja's inventory, Yanolja Cloud's global network, and Interpark Triple, contributing to the development of a leading tourism nation. [Photo by Interpark Triple]
This is the first time in over five years that CEO Lee has appeared at an official event since announcing Yanolja's global expansion through an exclusive partnership with the Japanese online travel agency (OTA) Rakuten Lifull Stay in March 2018. He said, "I have eagerly awaited the opportunity to explain our vision for inbound tourism." In a domestic travel industry focused on generating revenue through outbound travel (Koreans traveling abroad), simply planning a business that emphasizes the growth potential of inbound tourism is a significant challenge.
The focal point for executing the vision of 50 million annual inbound tourists by 2028 is Interpark, which Yanolja acquired through mergers and acquisitions (M&A). The big data-based hyper-personalized platform 'Triple,' merged with Interpark in June last year, will cover both domestic and international travel markets and push forward detailed implementation plans. The company name has also been changed to 'Interpark Triple.'
Interpark Triple plans to combine Interpark's competitive services in ticket sales for travel, performances, exhibitions, and sports, as well as performance production and cultural facility management, to develop package products integrated with K-content. Using artificial intelligence (AI) technology, it aims to provide customized services that satisfy the interests of foreign tourists.
CEO Lee stressed, "Currently, inbound travel products are structured in a way that makes it difficult to go beyond Seoul. Like Japan, where foreign tourists flock to various regions such as Tokyo, Osaka, Fukuoka, Okinawa, and Hokkaido, or Vietnam, where travel destinations have diversified to places like Hanoi, Ho Chi Minh, Nha Trang, and Da Nang, it is important for us to create multiple third and fourth-tier tourist destinations."
Among the plans revealed that day was the idea to collaborate with Korea Airports Corporation and local governments to design region-specific packages linked to regional international airports such as Yangyang, Muan, and Cheongju. Additionally, by utilizing AI technology, tourists will be able to prepare for their trips to Korea without searching, and enjoy nationality- and individual-specific customized travel with AI guides anywhere in the country. Related channels will be provided to facilitate this. Combining Yanolja's inventory (product listings) with the global network of Yanolja Cloud, a solutions company, they also plan to build a global platform that distributes travel content by country.
CEO Lee said, "If there is government-level support and interest, and if all parties, including companies operating in the travel industry, move forward with one heart and mind, we will get closer to achieving our goal. Attracting foreign tourists through regional airports in packages will not only revitalize the local economy and create jobs but also help solve the problem of population decline in rural areas through tourism."
Meanwhile, Yanolja acquired 70% of Interpark's shares for 301.1 billion KRW in 2021, making it a subsidiary. Afterward, they filed a post-merger notification with the Fair Trade Commission, which approved the corporate merger in March this year. As of the first quarter of this year, Interpark's airline ticket transaction volume was 747.8 billion KRW, a 167% increase compared to the same period last year, and last year's performance ticket sales reached 665.1 billion KRW, marking an all-time high.
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