Inovile to Significantly Expand Travel Tech Business for Foreign Tourists

Inovile Co., Ltd. (CEO Park Sanghyun) announced plans to significantly expand its travel technology (Travel Tech) business in response to the increasing number of foreign tourists visiting Korea.

This business expansion centers on extending beyond its existing electronic payment agency services for foreigners, with a primary focus on expanding payment infrastructure and advancing its data-driven platform.

Until now, Inovile has operated electronic payment services that enable foreign tourists to use simple payment methods at domestic card-affiliated merchants. With this expansion, the company aims to move away from a payment processing-centric business structure and transition into a data-driven platform business.

The company plans to strengthen value-added services by analyzing consumer data generated during service use—by country, age group, and region visited—to provide tailored travel content and commercial district information for tourists, as well as targeted customer connections and marketing support for affiliate merchants.

Through this approach, Inovile intends to diversify its business model beyond a simple payment commission-based revenue structure, incorporating data and marketing-linked services.

Furthermore, the company plans to broaden strategic alliances with major global fintech companies to diversify supported payment methods. By adding key payment options for each country, Inovile aims to enhance payment convenience for foreign tourists and bolster domestic merchants' ability to serve overseas customers.

CEO Park Sanghyun stated, "Our goal is to overcome the physical and economic barriers that foreign tourists experience while traveling in Korea through technology," and added, "We will evolve into an integrated platform that combines payment, data, and content, based on our established electronic payment system."

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