The meaning of "catch you later" is:
The definition of "catch you later" is:
Student 1: I am going back to Brazil.
Student 2: I am going back to Korea.
Student 1: Good luck to you! I hope we will meet again soon!
Student 2: Catch you later!
Have fun on your vacation! I hope you enjoy Mexico! Catch you later!
catch you later is used as a friendly way of saying goodbye.