To Tap into Yanolja's Leisure Platform Strength

Citibank Korea president Yoo Myung-soon (fourth from right) and Yanolja CEO Lee Soo-jin (fourth from left) pose for a photo shoot after signing a business agreement at Yanolja's main office in Gangnam-gu, Seoul on May 21.

Citibank announced on May 24 that it has signed a business agreement with leisure platform Yanolja to rev up its global business. It plans to combine Yanolja’s platform capabilities with its global network. Citibank, which has decided to withdraw from the consumer financial market in Korea, is stepping up its efforts to strengthen corporate finance.

Yanolja is planning to strengthen its competitive edge in foreign markets by utilizing Citigroup's global network. Currently, the company is providing cloud-based hotel operation solutions to more than 30,000 customers in 170 countries around the world. It is expected to expand its license agreement with countries through cooperation with Citibank.

Citibank is also planning to provide global payment solutions specialized in the hotel industry by utilizing Yanolja's big data.

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