Synergy IB Investment Invests 5 Billion KRW in Norangpungseon CB... "Expected High Benefits from Travel Demand Recovery"

[Asia Economy Reporter Yoo Hyun-seok] Synergy IB Investment, a new technology finance company under Synergy Partners Group, announced on the 12th that it recently executed a 5 billion KRW investment in convertible bonds (CB) of Norangpungseon.

Norangpungseon is the third-largest travel agency in the industry following Hanatour and Modetour, and is expected to benefit greatly when travel demand recovers after COVID-19. Synergy IB Investment highly evaluated Norangpungseon's sound financial status and proactive cost management, which have maintained competitiveness even in a challenging market environment, leading to this investment decision.

A company official stated, “We made the investment decision based on the high trustworthiness of Norangpungseon's management, and we highly appreciated the target company's swift response to environmental changes, such as preparing its own online travel platform in preparation for the post-COVID-19 era.” He added, “Since the travel industry is currently in a slump due to external factors like COVID-19, the performance recovery of companies that survive after the pandemic is expected to be even steeper.”

Meanwhile, including this investment, Synergy IB Investment has executed a total of 27 billion KRW investments in five companies this year. The company plans to continue expanding investments into various fields such as materials, parts and equipment, green new deal, and the 4th industrial revolution, as before.

This content was produced with the assistance of AI translation services.