Naver Pay Signs NFT-Based Business Agreement with Jeju Tourism Organization

Business Agreement Signed for the Digital Transformation of Jeju Tourism Content
Naver Pay and Jeju Tourism Organization to Launch NFT-Based Digital Tourism Pass "NOWDA" in September

On June 20, Naver Pay (Npay) announced that it had signed a business agreement with Jeju Tourism Organization for the "Expansion of Jeju Non-Fungible Token (NFT) Digital Tourism Pass and Creation of Digital Tourism Ecosystem."

On the 20th, Park Sangjin, CEO of Naver Pay (left), and Go Seungcheol, President of Jeju Tourism Organization, signed a business agreement for the "Expansion of Jeju NFT Digital Tourism Pass and Creation of Digital Tourism Ecosystem" at Jeju Welcome Center in Jeju City. Photo by Naver Pay

The purpose of the agreement is to support the digital transformation of Jeju's tourism content and to revitalize the local economy.

Through this agreement, both parties plan to launch the NFT-based Jeju Digital Tourism Pass "NOWDA" in September. This initiative aims to provide NFT experiences to both Jeju tourists and residents, and to build a digital ecosystem for Jeju tourism.

By combining the local network of the organization with the technological capabilities of "Npay Wallet," a non-custodial digital asset wallet service, the two parties plan to enhance the competitiveness of tourism content and establish a foundation for the sustainable growth of the local economy.

Npay will provide wallet technology and operational infrastructure for the issuance of NOWDA. The company also plans to promote Jeju tourism content by utilizing its own platform and marketing channels.

The organization will take the lead in planning and operating the NOWDA project using NFT technology, and will work to encourage the use of NOWDA among tourists and local residents after the service is launched.

Park Sangjin, CEO of Naver Pay, stated, "We will support the successful adoption of the Jeju NFT Digital Tourism Pass by leveraging our technology and platform," and added, "We will strive to create new value for both local residents and visitors through the digital transformation of Jeju tourism."

Go Seungcheol, President of Jeju Tourism Organization, said, "We will accelerate the digitalization of Jeju's tourism industry by utilizing the technology and infrastructure of Naver Pay, the largest fintech (finance + technology) platform in Korea."