This extensive support aligns with the rapidly growing global tourism market and the government's venture promotion initiatives. According to the World Economic Forum (WEF), the global tourism industry is projected to grow to approximately $16 trillion, accounting for 11% of the world's GDP by 2034. In line with this, the government has outlined a vision to achieve annual venture investments of 40 trillion won through its "Comprehensive Plan for Becoming a Leading Venture Nation." The KTO is at the forefront of exporting K-tourism startups in this macroeconomic context.
Since 2020, the KTO's enterprise development project has been a key driver in facilitating the overseas expansion of approximately 177 tourism startups. Moving away from a model that relied solely on one-time funding, the KTO now provides tailored solutions based on business diagnostics, including the establishment of overseas market entry strategies, global networking, and local investment connections.
Notably, the Overseas Tourism Business Support Center (KTSC), which opened in Singapore in August 2022 and is set to expand to Tokyo, Japan, in December 2023, and Bangkok, Thailand, in December 2024, serves as a crucial base for this close support. The KTSC offers resident companies workspace and corporate address registration, as well as comprehensive support for essential legal and tax consultations for early local establishment.
Additionally, the KTO leverages its decades-long tourism-focused network to thoroughly support business matching, including identifying proof of concept projects with local corporations and government agencies and prioritizing opportunities for participation in trade fairs. As a result, in 2025, tourism companies supported by the KTO signed a total of 60 tourism-related contracts, agreements, and non-disclosure agreements (NDAs) with local firms.
The "Singapore KTSC Tourism Company Showcase Day," held on June 11 at the Guoco Midtown Network Hub in Singapore, showcased the enthusiasm for K-tourism startups entering Southeast Asia. Over 100 attendees, including eight promising domestic tourism companies, local government agencies, global corporations, and venture capital representatives, participated in the successful event.
In his keynote speech, Sam An, managing partner at Rakuten Ventures, emphasized strategies for entering the Asian market. He stated, "Only companies that find excellent local partners and build a business that is both traditional and innovative, armed with technology to maximize profitability, will survive."
Representatives from participating companies expressed that the KTO's proof-based support has been a significant asset in opening new markets. Jung Chang-yoon, CEO of Dive In Group, remarked, "The title of being a KTSC resident company itself serves as a kind of credibility guarantee. With the close support of KTO's local staff, what typically takes six months to a year for a main contract was completed in just two months, significantly changing the perceived speed of business."
Jo Soo-hyun, head of Manmanhan Yeoja's Singapore branch, added, "The KTO's connection to verified legal advisors and support for costs during the challenging process of establishing overseas entities was impressive. It played a crucial role in our initial settlement."
This close support is translating into local results. Ji Sung-wook, CEO of Media and Art, which opened the permanent media art screening venue Ground Si So Singapore in October 2024, noted, "With the support for business matching with Singaporean partners, corporate establishment, and local hiring, we were able to settle quickly in an unfamiliar market." Kim Ha-won, CEO of Haenyeo's Kitchen Group, which operates the popular Haenyeo's Kitchen that attracted attention after a visit from First Lady Kim Hye-kyung in March, stated, "Localization of content is crucial, and we received significant help from the KTO in this regard. Thanks to that, local customers have responded very positively."
The KTO plans to continue enhancing connections with local partners using the Singapore KTSC as a forward base. Ahn Hyo-won, head of the KTO's Singapore branch, stated, "This showcase is not a one-time event but part of a PoC support program aimed at helping domestic tourism startups successfully enter the market. We will continuously provide opportunities to validate products and test markets through collaborations with local demand companies."
He added, "After the showcase, we will continue to offer one-stop investment attraction consulting, participation in local tech fairs like 'Travel Tech Asia 2026,' influencer marketing, and various forms of support. In particular, we will expand cooperation with local investors and government agencies to effectively serve as a bridge for overseas expansion."
* This article has been translated by AI.
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