Kyowon Group takes over KRT travel agency… “I look forward to synergy

Kyowon Group took over KRT travel agency.

According to the Kyowon Group on the 12th, Kyowon Life, an affiliated company that operates a commercial business, signed a stock purchase agreement (SPA) to acquire 100% of KRT travel agency shares. The transaction price is unknown.

KRT travel agency is the top 10 travel agency in Korea after Hana Tour, Mode Tour, and Yellow Balloon. The annual sales volume is 22 billion won as of 2019.

The acquisition of Kyowon Group’s travel agency seems to have in mind the synergy with the existing senior travel specialty brand’Travel-like’ and a package of mutual aid products.

Kyowon Life’s assets and advances amount to 450 billion won, respectively, ranking fourth in the industry.

An official from Kyowon Life said, “With this acquisition, we will develop a mutual aid service tailored to various lifestyles of customers.”