KB Securities said on the 12th that growth centered on the package tour brand business is expected for Hanatour. It initiated coverage with a "Buy" rating and a target price of 56,000 won. The previous trading day's closing price of Hanatour was 41,600 won.
Lee Jong-geon, an analyst at KB Securities, said, "Hanatour operates an outbound-focused business sending travelers from Korea to overseas, so within the leisure sector that has drawn attention recently due to an increase in foreigners visiting Korea, interest has been relatively muted," adding, "However, outbound is maintaining steady growth, only with a somewhat slower pace than inbound."
The analyst forecast that Hanatour's operating profit will grow an average of 6.1% annually from 2025 to 2028. This year's operating profit was estimated to reach 66.9 billion won.
In particular, premiumized package tour products were cited as a key driver of earnings growth. The analyst said, "In the past, package products were focused on group and low-cost options, but now the share of networking-type products such as mingling tours and high-priced products is increasing."
Profit improvement driven by changes in sales channels is also a positive factor. The analyst said, "As the online share of package sales channels has risen to around the 60% range, profit improvement from reduced commission expenses is continuing," adding, "Hanatour will prove its competitiveness in negotiating with online travel agencies (OTA) by leveraging its package capabilities and will become an independent operator."
The analyst also said the company is pushing to expand into the inbound market targeting domestic tourists. The analyst said, "We plan to expand our business scope by launching an inbound platform in the first half of the year," adding, "Initially, marketing expenses to acquire customers will occur, but we expect to deliver meaningful results by leveraging our existing outbound infrastructure."