Pinetree Securities, KTO to advance tourism technology with Singapore venture capital

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Pinetree Securities, a unit of Hanwha Investment & Securities Company operating in Southeast Asia, signed a memorandum of understanding (MOU) with the Korea Tourism Organization (KTO) and Velocity Ventures, a Singapore-based venture capital firm, to advance tourism technology within Korea’s travel and hospitality sector.

The three entities signed the MOU for Korean tourism startup development and investment at the Korea Plaza in Singapore, Thursday, aiming to introduce Korean startups to Southeast Asia and beyond, strengthening Korea’s role in the global travel tech ecosystem.

This partnership leverages the strengths of all three organizations. Velocity Ventures specializes in the hospitality and travel industry across Southeast Asia. The firm targets early- to growth-stage, tech-enabled companies led by visionary entrepreneurs committed to transforming the sector.

“This partnership marks a pivotal step in expanding our engagement with Korea’s tech sector and integrating into its dynamic ecosystem. We’re eager to unlock the potential of Korea's travel startups and scale them globally,” said Bennett Lee, partner at Velocity Ventures,

Velocity Ventures recently invested in Tripbtoz, a Korean online travel agency utilizing user-generated and influencer-driven content for travel bookings, showcasing its growing focus on Korea’s travel tech landscape.

Pinetree Securities is an investor in private equity and venture capital funds, and intends to invest in Velocity Ventures which specifically mandates the allocation of a portion of investments to early-stage innovation in Korea’s hospitality and tourism sector.

“We look forward to facilitating the entry of Korean startups into Singapore and Southeast Asia. Through our partnership with Velocity Ventures and the KTO, we will provide Korean innovators with access to new markets, investor connections and growth opportunities,” said David Lee, CEO of Pinetree Securities.

The KTO, meanwhile, plans to facilitate connections between Velocity Ventures and Korean tourism startups, providing investment opportunities through its various programs. It expects the partnership to offer new opportunities for startups, investors and government entities, with a strong focus on advancing technology to meet the evolving demands of the global tourism market.

“Singapore is a critical launchpad for Korean tourism startups. The expertise of Velocity Ventures, combined with Pinetree Securities and our support, will be instrumental in helping these startups scale into Southeast Asia and beyond,” said Kwon Jong-sool, executive director of the KTO.