Yanolja becomes Korea's first company to join UAE's Global Unicorn Center

South Korea's Yanolja Co. a leisure booking platform company, announced on Thursday that it has become the first Korean company to join the Global Unicorn Center established by the United Arab Emirates government. The announcement came after Yanolja CEO Kim Jong-yoon participated in the World Government Summit (WGS) held in Dubai on Feb. 15 and negotiated his company's membership.

The WGS is a large-scale international event held annually in Dubai and led by UAE Vice President and Prime Minister Mohammed bin Rashid Al Maktoum. During this year's summit, the UAE government announced the Global Unicorn Center project and expressed its aspirations to produce 30 unicorn companies in Dubai by the end of this year.

By joining the center, Yanolja aims to strengthen its global competitiveness by utilizing local networks in regions such as the Middle East, North Africa and Gulf Cooperation Council countries. The company plans to expand its solution licensees by developing solutions customized for the Middle East and accelerating the digital transformation of the local leisure industry.

As a member of the Global Unicorn Center, Yanolja will receive the training and services necessary to enter the Dubai market, and entrepreneurs who set up shop in the country will be supported with the issuance of a golden visa, which is equivalent to permanent residency in Dubai. With its membership in the center, Yanolja hopes to expand its presence in the Middle East and become a leading global leisure booking platform company.

Write to Ji-Hee Choi at mymasaki@hankyung.com