SEOUL, March 16 (Korea Bizwire) — South Korean travel startup Yanolja Co. hopes to contribute to the development of the local tourism industry through its newly launched global research center, its top executive said Thursday.
“Data is becoming a crucial element for industry players in predicting future trends and surviving the new normal (after the pandemic),” CEO Bae Bo-chan said at a press conference as he announced the launch of Yanolja Research.
“We think South Korea’s tourism industry needs a coach with professional and industry-focused data that can guide the sector in the right direction.”
Co-founded by Purdue University and South Korea’s Kyung Hee University, Yanolja Research aims to offer data-based information on business trends and policy issues in the sector for free, while also hosting networking events.
The new center is part of the SoftBank-backed startup’s ambition to contribute to the development of tourism in Asia’s fourth-largest economy, following the South Korean government’s plan to attract 300 million inbound travelers by 2027, compared with 3.2 million in 2022.
Regarding Yanolja’s plans for its public offering, Bae said “nothing has been decided” yet, but the decacorn startup will “review the matter when the time is right.”