South Korea’s top travel and accommodation booking platform operator Yanolja Co. has increased its stake in travel agency Modetour Network Inc., stoking speculation of potential governance tensions at one of the country’s oldest tour operators.
According to a recent regulatory filing, Yanolja purchased 56,000 shares of Modetour through open-market transactions between March 18 and 21.
The purchase has brought its Modetour stake holding to 5.26%, up from 4.5% earlier, making it the company’s second-largest shareholder.
Yanolja has steadily increased its stake in Modetour since the second half of 2023.
FOUNDING FAMILY’S WEAK GRIP ON MODETOUR
The stock accumulation comes as Modetour’s founding family faces questions over its grip on the company.
Founder and Chairman Woo Chong-woong is Modetour’s single largest shareholder, holding a 10.92% stake, while his eldest son, Woo…
Boutique Travel VC raises investment cap from $1.5M to $10M to lead rounds and support portfolio companies through growth Travel...
Read moreDetails
