YANOLJA, South Korea’s primary vacation and leisure system, has signed an settlement to obtain the business division of Interpark, a person of the country’s earliest e-commerce marketplaces.
Both
companies signed an MOU on the acquisition of 70% of stake in Interpark’s
business division which contains journey, effectiveness tickets, procuring, and
publications for KRW 294 billion (close to US$248 million).
This
acquisition provides Yanolja to gasoline
its declared world expansion right after it raised US$1.7
billion in July.
With this acquisition, the two firms will proactively cooperate to strengthen their positions in each the domestic and abroad journey business.
In a statement released in Korea Herald, it said, “The intercontinental tourism industry has been dominated by foreign platforms. The acquisition will see Yanolja enter the industry as a South Korea business.”
Yanolja
has been expanding its world-wide business with SaaS (Computer software as a Company)
technological innovation. Through this acquisition, Yanolja is predicted to supply
differentiated buyer experience by connecting to worldwide vacation platform
providers with SaaS.
“With this acquisition, we are able to secure a advancement engine that supports to phase up in global journey market, proactively responding the abroad journey requires,” Yanolja stated. “We will lead to assist the world travel market qualitatively and quantitatively with securement of global SaaS tech management.”
• Yanolja’s CEO Jongyoon Kim will be talking at WiT Practical experience Singapore 2021 subsequent week.
Highlighted impression: Starfield Library, COEX Shopping mall, Seoul.