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The tourism industry is a growing sector that leverages global traveler movement data, encompassing both data and financial industries, and continues to expand each year. In 2023, the global online travel market is estimated to be around $600 billion. With advancements in cutting-edge technologies such as artificial intelligence (AI), the tourism industry is evolving towards hyper-personalization and is emerging as a future industry. K-travel tech companies, which are expanding beyond the domestic market and venturing into new international territories, are at the forefront of this growth.

The Korea Tourism Organization (KTO) is actively fostering travel tech by directly connecting local investors and tourism businesses and assisting them in penetrating the rapidly growing overseas digital transformation (DX) market through localization support.

Travel tech company AGL is also embarking on significant international market expansion by signing a contract with inbound platform, a publicly listed Japanese company.

The KTO is committed to meeting the needs of tourism businesses aiming to enter countries beyond those where KTSC operates. They are introducing the 'Global Connect Project' in regions such as Indonesia, the Middle East, and Thailand to continuously identify business opportunities. Collaborating with global tech companies and foreign government agencies to secure timely technological and business opportunities for domestic travel tech companies is crucial. Jeong Geun-hee, the head of the Tourism Business Development Team at KTO, stated, “If business cooperation among global tourism companies is strengthened, the benefits will ultimately be reaped by travelers,” and added, “It will create substantial added value, such as enhanced tourism convenience.”

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Sources : Hankyung.com(https://www.hankyung.com/)

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