"The ultimate vision of the Korea Tourism Organization is to create a 'borderless tourism business ecosystem' that organically combines technology-driven travel tech companies with culture-based local creators, enabling the real-time sale of Korea's tourism value worldwide," said Min Byeong-seon, head of the Korea Tourism Organization's Tourism Industry Division.
In an interview following the showcase day at the Overseas Tourism Enterprise Support Center (KTSC) in Singapore on June 11, Min emphasized that the organization is focused on enhancing the export competitiveness of the tourism industry and completing a sustainable K-tourism ecosystem by nurturing travel tech startups and localizing K-content.
The tourism industry is evolving beyond mere consumption into a high-value export sector that sells technology and services abroad. In line with this trend, the organization has been consistently supporting tourism startups as a 'global expansion incubator' since 2020, providing commercialization funds and proof of concept (PoC) opportunities. Additionally, it plays a leading role as an open innovation platform connecting overseas large and medium-sized enterprises with startups, concentrating on creating high-value tourism export models by integrating K-content with beauty, gastronomy, and medical tourism.
Min highlighted the organization's commitment to fostering technology-converged travel tech companies that incorporate artificial intelligence (AI) and deep tech. He stated, "Tourism startups that integrate AI technology have an 'overwhelming value-added' effect. This greatly contributes to the overall growth of the tourism industry and enhances the experiences of inbound tourists." He added that starting this year, the organization will implement the 'Plus Tech Bridge' initiative for companies selected by the Ministry of SMEs and Startups' TIPS program, aiming to contribute to national goals of innovating tourism services and attracting 30 million inbound tourists.
The KTSC, which opened in August 2022, serves as a strong foothold for overseas expansion. Min noted, "The KTSC is not just a place that assists with local entry. It is the core incubator that enhances the technological capabilities of Korean tourism ventures with global capital, develops business models, and nurtures 'global tourism unicorns' that will lead the worldwide travel tech market."
Furthermore, the organization plans to broaden its overseas market reach. Min explained, "This second half of the year, we will launch new global proof of concept projects in Vietnam and Malaysia, where there is no KTSC, to expand the outreach of tourism companies into Southeast Asia and create more business opportunities linked to proof of concept projects."
To ensure that successful localization of K-content does not remain a one-time introduction but instead establishes a sustainable revenue model, the organization has plans for follow-up support. Min stated, "We plan to support 'global intellectual property (IP) licensing and franchising' and 'local establishment and advanced investment attraction' for tourism companies. We will assist them in entering local markets through licensing out or master franchising to generate copyright revenue and significantly enhance 'global scale-up matching' by connecting with local venture capital through the KTSC."
Looking ahead, Min identified the role of K-tourism companies as 'pioneers' that lead trends in the global tourism market. He expressed hope that "travelers around the world will plan their trips using Korean venture technology and consume Korea's unique local cultural IP, thereby setting a standard for global travel. I also expect that a 'global tourism unicorn company' will emerge, leading the world travel tech market based on the KTSC and a global investment network."
* This article has been translated by AI.
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