*This content was translated by AI.
The Ministry of Culture, Sports and Tourism (Minister Choi Hwi-young) announced that it will hold the 17th Tourism Venture Business Contest from March 3 to March 4 to discover and foster innovative tourism companies that will lead the future of the Korean tourism industry using artificial intelligence (AI) and digital technology. In particular, this year's contest will focus on discovering promising companies, focusing on next-generation tourism services that incorporate artificial intelligence technology.
In this contest, a total of 100 companies will be selected in three categories, including ▶ preliminary tourism ventures (preliminary founders, 20), ▶ early tourism ventures (within 3 years of founding, 40), ▶ growth tourism ventures (within 3 years of starting, within 7 years of starting, 40). Companies wishing to participate can select and support one of tourism experience services, realistic tourism contents, tourism infrastructure (infrastructure), and tourism-based technology (deep technology) depending on the contents of the project.
The final selected companies will be provided with up to 100 million won in commercialization funds for about seven months until November this year. In addition, it plans to provide various support programs such as practical training necessary for start-ups and management, expert-tailored consulting, expansion of opportunities to attract domestic and foreign investment, and participation in industry-connected network establishment events such as "Tourism Company Iseul Week."
The Ministry of Culture, Sports and Tourism and the Corporation have expanded the tourism industry by producing a number of innovative companies through tourism venture development projects. In fact, supported tourism venture companies recently won the International Electronics Show (CES), proving their competitiveness in "K-tourism" technology globally, and many of last year's selected tourism venture companies produced substantial growth results, such as increasing sales and attracting investment.
Detailed public offering guidelines and application methods can be found on the Korean tourism industry portal "Tourraz," and the final selection results will be announced at the end of April after document review and presentation evaluation.
"The tourism industry is rapidly reorganizing based on artificial intelligence and digital technology, and tourism venture companies are key players in this change," said a policy official at the Ministry of Culture, Sports and Tourism. "The Ministry of Culture will strengthen support for the entire cycle so that tourism ventures can compete in the global market based on technology and ideas and continue to promote digital transformation and high value-added tourism industry as a whole."
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*This content was translated by AI.
