Yanolja Launches US Office as Part of Global Expansion, Eyes North American Market
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As part of its global expansion strategy, the Korean travel tech company Yanolja has opened a ‘Yanolja US Office’ to accelerate its solutions business in North America. Since establishing its first overseas branch in Singapore in 2019, Yanolja has been expanding its local offices in key countries to enhance its global solutions and channeling business.
As a result, it now operates 49 overseas offices across 27 countries in Asia and Europe, with over 1,300 international employees, accounting for more than a third of its total workforce. Moreover, Yanolja has established R&D centers in Korea, India, Israel, Turkey, and Vietnam to accelerate the digital transformation of the global travel industry.
With the global solutions business gaining momentum, Yanolja recorded its highest quarterly performance in the third quarter of last year. The revenue from its overseas business increased by more than 200% compared to the same period in the previous year, with an operating income of KRW 15.9 billion and an adjusted EBITDA of KRW 16.9 billion.
The newly opened ‘Yanolja US Office’ in Manhattan, New York, is Yanolja’s 50th overseas branch and is expected to become a hub for global business expansion. It will focus particularly on strengthening its position in the North American market and enhancing its global brand recognition.
Alexandre Ibrahim, Corporate Chief Financial Officer, plans to leverage his expertise in the global capital markets, developed over more than 20 years of working at the New York Stock Exchange, to expand strategic partnerships with leading global companies.
Alexandre Ibrahim, the Corporate Chief Financial Officer, stated, “Given the significant size of the North American market within the global travel industry, we anticipate gaining a competitive edge in channeling and solutions businesses in North America, using the new US office as a base.
As a leading travel tech company that represents the global travel industry, Yanolja plans to expand its solutions business to Europe—the traditional center of the travel market—as well as emerging markets in the Middle East and Africa, building on its success in the North American region.”
[Korean Traveltech Startup News]
