Norang Poongseon Added to Management Items... "Expected Resolution with Business Normalization This Year"

[Asia Economy Reporter Park Hyungsoo] Norangpungseon has been classified as a management item.

Norangpungseon announced on the 24th that it was classified as a management item according to the KOSDAQ listed company sales criteria after recording separate sales of 2.5 billion KRW last year.

A Norangpungseon official explained, "We faithfully complied with the government's administrative orders on overseas travel restrictions and up to 14 days of self-quarantine for overseas arrivals," adding, "It was virtually impossible to operate."

Norangpungseon expects its performance to recover this year due to the exemption from self-quarantine for overseas travelers applied from the 21st and the impact of deferred overseas travel revenge consumption. Since the government's announcement on the 11th exempting overseas arrivals who have been vaccinated from self-quarantine, traffic to Norangpungseon's website has increased. The number of reservations is also on the rise.

A Norangpungseon official said, "Since the government's announcement on self-quarantine exemption upon entry, the number of new member sign-ups has steadily increased," adding, "From the second quarter of this year, as the waiting demand for overseas travel recovers, sales will also increase due to the normalization of operations."

He continued, "Following the reorganization of the travel industry after COVID-19, we will advance our online platform and increase market share."

Despite difficult conditions, Norangpungseon invested to secure mid- to long-term growth engines and strengthen competitiveness. It is building a 'digital platform' tailored to changes in the overseas travel paradigm. To expand various businesses, it acquired 'Wishbeen,' a travel content sharing platform.

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