Yanolja, the Korean hospitality unicorn startup, will acquire 70% stake in Interpark Corp.’s e-commerce business division to target the global travel market. Yanolja sealed the deal for 294 billion won or $248 million for Interpark’s various services like travel, performances, shopping, and books.
Yanolja to accelerate overseas travel market with Interpark
Founded in 1997, Interpark Corp. is South Korea’s first-generation e-commerce player, with interests in different sectors. Yanolja expects to benefit from Interpark’s online ticketing services for flights and concerts to enhance online overseas travel services, that has suffered last year due to Covid-19. This acquisition is an opportunity for the two companies to actively strengthen and upgrade the competitiveness of the leisure industry at home and abroad.
Talking about the deal a Yanolja official said, “Through this acquisition, we have a growth engine that can take us a step forward in the global travel market as well as pre-emptively respond to overseas travel demand. We will continue to contribute to the qualitative and quantitative growth.”
Yanolja has been conducting global business focusing on Software as a Service (SaaS) technology. Based on market understanding and solution technology, it competes with leading companies and stands out in the global hotel solution market. Through this acquisition, Yanolja is expected to have more differentiated competitiveness in terms of customer usability, such as interconnecting overseas travel platforms and SaaS.
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