A promotional image of Yanolja / Courtesy of Yanolja
By Lee Yeon-woo
Yanolja has established a wholly-owned subsidiary in the United States in order to accelerate its move toward a Nasdaq listing.
According to industry sources on Monday, the travel platform operator set up a wholly-owned subsidiary named Yanolja US LCC in the U.S. state of Delaware in February. Yanolja’s first-quarter report states that the primary business activity of its U.S. subsidiary is listed as consulting, with a book value of 132.51 million won ($96,202).
Delaware, a state popular for its business-friendly corporate laws and tax system, is home to numerous global companies such as Apple and Amazon. The holding company of Coupang, Korea’s leading e-commerce company listed on the Nasdaq, is also located there.
Yanolja, which initially considered a listing on the domestic stock market, turned its attention to the U.S. stock market after receiving a $1.7 billion…
