11 January 2024
- Klook and Krungsri enter a first-of-its-kind partnership to boost tourism in Thailand across multiple verticals and elevate travel experiences
- Leverage technology to develop and enhance travel services, including unique travel products globally, providing simplicity and convenience to Thai travelers
- Introduce a diverse range of curated travel experiences and payment services in Japan, along with exclusive privileges for Krungsri cardholders
Bangkok, January 11, 2024 - In a groundbreaking move,
Krungsri (Bank of Ayudhya PCL and its business units), a member of the Mitsubishi UFJ Financial Group (MUFG), one of the world’s largest financial groups, has announced a strategic partnership with
Klook, Asia’s leading platform for experiences and travel services, to strengthen their position in the tourism market and elevate the experience for Thai travelers. This partnership comes on the back of Klook’s latest funding round, led by regional corporate investment arms, including Krungsri Finnovate, a corporate venture capital arm under Krungsri.
The collaboration is the first of its kind and marks a significant milestone in the Asian financial and travel sectors as it aims to elevate the tourism industry through a multifaceted approach. This includes helping to plan trips, offering accurate and up-to-date travel information, providing convenient and cost-effective booking services for travel activities, as well as other services that enhance convenience and safety during travel. Additionally, exclusive privileges are extended to Krungsri customers. Both entities leverage their strengths to foster cooperation in elevating the tourism industry, ensuring that this collaboration spans a wide range of dimensions of tourism. Krungsri, renowned for its credibility and diverse financial products, will play a pivotal role in offering tailored financial solutions for tourists and travel entrepreneurs. Simultaneously, Klook, the category leader in experiences, will bring its innovative digital solutions and seamless travel booking technology to the forefront, solidifying its position as a global market leader in travel experiences.
Mr. Pairote Cheunkrut, Krungsri Chief Strategy Officer, reveals “Krungsri is embarking on an exciting journey of innovation, introducing new solutions to meet the dynamic needs of our valued customers and contribute to the development of a robust ecosystem. It is our strategic move to be an integral part to support travel ecosystem at the Asia-pacific region level. Recognizing a surge in tourism demand, shifting spending behaviors, and emerging trends, our partnership with Klook will create synergies and strengthens our commitment to support the ecosystem. Krungsri and Klook will be dedicated to unveiling a seamless, convenient, and secure travel experience for customers through our platforms, reinforced by reliable payment options and exclusive user privileges. We are attuned to the desires of Thai travelers, especially those enamored with Japan, evident in our recent campaign, 'Think of Japan, Think of Krungsri.' This collaboration not only enhances our market position but also reinforces our dedication to delivering unparalleled travel experiences.”
Japan remains a popular destination among Thai travelers with sales in 2023 close to double that of 2019. The introduction of this new feature will enable Thai travelers to explore Japan, with access to an array of exclusive and curated travel experiences that show the best of Japan - from cultural experiences like Japanese traditional tea ceremony workshops and trendy dining options, to premium car rental services and rail passes, and popular attractions like theme parks and tours.
Mr. Phonganant Thanattrai, Krungsri Head of Retail and Consumer Banking, said "The collaboration aims to meet the needs of independent Thai travelers by providing them with an unparalleled and comprehensive travel experience through products and services that we are jointly studying and developing. For example, Krungsri’s lifestyle application, UCHOOSE, will exclusively integrate Klook experiences in Japan to enhance the consumer experience for Krungsri customers. In addition to the diverse range of experiences, cardholders can also opt for flexible installment plans and benefit from a host of exclusive perks, including discounts and special deals. This is all because we aim to make every journey a simple matter, reflecting our brand promise of Make Life Simple.”
Mr. Eric Gnock Fah, Chief Operating Officer, and Co-founder of Klook, said "We’re thrilled to partner with Krungsri to cater to the next generation of Thai travelers who are social media and mobile-first, with bigger and bolder appetites for unique experiences. This strategic partnership will enable Thai travelers to seamlessly access a world of travel experiences, particularly to top travel destinations like Japan, where they can enjoy the best of what the city has to offer from top attractions to iconic local tours.”
As Klook embarks on a strategic collaboration with Krungsri, both entities are steadfast in their commitment to providing exceptional travel experiences for independent Thai travelers. This collaboration focuses on delivering seamless discovery and booking of travel services, exclusive bundles, and competitive prices. By leveraging the strengths of both brands, this partnership aims to offer the utmost benefits to Thai travelers.