Kakao and Saudi Arabia discuss cooperation in tourism

Industry

Published: 23 May. 2023, 18:55

Kakao and Saudi Arabia discuss cooperation in tourism

Representatives from the Saudi Tourism Authority, Kakao, Kakao Mobility, Kakao Pay and Kakao Entertainment pose for a photo during a meeting held at Kakao's office building in Pangyo, Gyeonggi, Tuesday. [KAKAO]

Kakao discussed possible cooperation with Saudi Arabia in tourism, the tech company said Tuesday.

The meeting, which took place at Kakao’s office building in Pangyo, Gyeonggi, came after Saudi Arabia’s sovereign wealth fund acquired 10.21 percent of Kakao Entertainment at 600 billion won ($455 million) in January.

The latest meeting was attended by Alhasan Aldabbagh, head of the Asia-Pacific region, and Choon Quek, chief technology officer at the Saudi Tourism Authority.

Participants from Kakao companies included Shin Min-kyun, vice president and head of corporate strategy at Kakao, as well as representatives from Kakao Entertainment, Kakao Mobility, and Kakao Pay.

Tourism is one of the key pillars in the Middle Eastern country’s Saudi Vision 2030 announced in 2016.

The vision aims to reduce the country’s dependency on fossil fuel while fostering high-value-added industries in non-oil sectors, such as tourism. The goal is to raise the contribution of tourism in its domestic production to over 10 percent by 2030.

As digitalization accounts for a significant part of Saudi Arabia’s plan to make traveling experiences “seamless,” the country is seeking cooperation from Kakao companies.

During the Tuesday meeting, Kakao and Saudi Tourism Authority discussed possible joint projects such as establishing an online payment system with Kakao Pay and a ride-hailing service with Kakao Mobility for tourists visiting Saudi Arabia.

Measures to expand cultural exchanges between the two countries with Kakao Entertainment’s content were also one of the major topics, said Kakao.

The discussion will be a kick-starter to Kakao’s involvement in vitalizing Saudi Arabia’s tourism sector, the company added.

“As boosting the tourism sector is Saudi Arabia’s major state project, Kakao will actively take part in advancing Saudi’s tourism infrastructure and facilitating continuous cultural and technological collaboration between the two countries based on our technological capabilities,” said Shin.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]