In the world of Korean travel tech, two entrepreneurs – Donggun Lee, the visionary founder of MyRealTrip, and Jiha Jung, the driving force behind Tripbtoz.
Lee, who won the WiT Startup Pitch in Japan in 2014, started MyRealTrip in 2012, using tours and activities as an entry point. Jung, who won the WiT Startup Pitch in Seoul in 2018, started Tripbtoz in 2015, to do a fresh take on the Western OTA model.
Their stories, shared during a session on “Building the Next Generation OTA” at WiT Seoul, show how innovative thinking, grit and ambition are shaping the future of Korea’s travel tech scene.
“Our focus is on creating an ecosystem where travellers share their journeys, earn rewards, and feel a sense of community,” said Jiha Jung Founder & CEO, Tripbtoz
Early inspirations and bold beginnings
Donggun Lee’s entrepreneurial journey began in 2012, fueled by a keen observation of two transformative trends: the rise of free independent travellers driven by smartphones and low-cost airlines, and the untapped potential in Korea’s tourism activities market.
“Back then, the mainstream was still group package tours,” Lee recalls. “I saw an opportunity to connect travellers seeking authentic experiences with local guides who lacked efficient ways to reach them.”
Jiha Jung’s inspiration struck during his time at a US university in 2013. Reflecting on early travel platforms like Expedia, Jung envisioned a fresh approach. “I thought we needed a platform combining community and commerce,” he explains. That insight laid the foundation for Tripbtoz, blending user-generated content and social commerce to redefine how travelers discover and book accommodation.
Mantras for disruption
Both entrepreneurs share a knack for shaking up the status quo but approach disruption differently. Lee emphasizes practicality: “Disruption isn’t about creating something entirely new. It’s about identifying simple customer needs – like faster, cheaper, easier solutions – and addressing them efficiently.”
Jung’s perspective has evolved over seven years: “Initially, I thought disruption was something I did. Now I realize it’s about solving pain points for others. Innovation touches emotions and sparks revolutions, like AR or email once did.”
Adapting to challenges and expanding horizons
MyRealTrip, which has raised a total of $113m since founding, has grown from focusing solely on tours and activities to becoming a full-service online travel agency (OTA), offering flights and accommodations. Despite stiff competition, Lee sees the company’s strength in its origins. “We started with tourism activities, which makes us uniquely positioned to provide experiences travellers value most. Experience isn’t about price – it’s about completing a journey.”
Meanwhile, Jung’s Tripbtoz, which has raised $12m to date, leverages social videos and gamified rewards to captivate users. “Our focus is on creating an ecosystem where travellers share their journeys, earn rewards, and feel a sense of community,” Jung says.
However, as giants like TikTok and Expedia enter the fray, Jung remains undeterred, viewing these developments as validation of his approach. “The market is still in its infancy. There’s plenty of room to innovate.”
“I saw an opportunity to connect travellers seeking authentic experiences with local guides who lacked efficient ways to reach them,” said Donggun Lee, CEO & Founder, MyRealTrip
Navigating the AI revolution
The duo also diverge in their views on artificial intelligence (AI). Lee calls it a “great equalizer,” enabling small teams to innovate quickly, as MyRealTrip did by integrating AI-guided camera services ahead of larger competitors. Jung, however, argues that AI favours the giants with vast datasets, which smaller companies can struggle to match.
Despite differing opinions, both recognize AI’s potential to reshape the travel industry. Lee envisions a future where platforms act as super apps, addressing all travel needs, while Jung focuses on creating personalized, engaging experiences for users.
Advice and aspirations
Looking back, Lee would tell his younger self to “do something you want”, underscoring the importance of passion in entrepreneurship. Jung, when asked about his dream skill, would choose the ability to forecast the future – a fitting wish for someone leading an industry rife with uncertainty.
As their journeys unfold, Lee and Jung remain steadfast in their missions to redefine travel for the next generation. Their stories are not just about business success but also about the power of vision, perseverance, and a relentless focus on creating value for travellers worldwide.
