Woongjin Establishes Malaysian Subsidiary, Sets Sights on Southeast Asian Market

Second Overseas Subsidiary Established After the United States
Key Bridgehead for Business Expansion in Asia
Building WRMS for Local Rental Companies
"Second Headquarters for Asian Expansion... A Major Leap Forward"

Woongjin announced on the 20th that it has established a local subsidiary in Kuala Lumpur, Malaysia, and is launching an initiative to target the Southeast Asian market.

At the opening ceremony held on the 17th (local time) at the Amari Kuala Lumpur Hotel in Malaysia, Soo Young Lee, CEO of Woongjin, attended along with the heads of local subsidiaries of Korean companies such as LG Electronics and SK Magic. Also present were the head of the Kuala Lumpur Trade Center of the Korea Trade-Investment Promotion Agency (KOTRA), the president of the Korean Association in Malaysia, the president of the Korean Chamber of Commerce Malaysia (KOCHAM), and the president of AGIKO, the association of Malaysian alumni who studied in Korea.

On the 17th, at the opening ceremony held at the Amari Kuala Lumpur Hotel in Malaysia, Soo Young Lee, CEO of Woongjin (fifth from the left), is taking a commemorative photo. Woongjin

The Malaysian subsidiary is Woongjin's second overseas base, following the United States. According to the company, this move is of great strategic significance as it will serve as a hub for entering the Southeast Asian market and as a key bridgehead for expanding business across Asia. In particular, Malaysia is a country with a high income level and a stable business environment among Southeast Asian nations, making it a market where major Korean companies are actively conducting rental businesses. Woongjin plans to establish rental systems for Korean companies operating in Malaysia and local rental companies through its Woongjin Rental Management System (WRMS).

WRMS provides integrated support for all services necessary for the rental business, including contract management, payment processing, and customer management. Its key feature is that, in addition to standardized core functions, it allows clients to selectively add functions according to their industry and operational methods, thus ensuring both efficiency and scalability. Woongjin has already proven its market competitiveness by successfully completing system implementation projects for major domestic rental companies.

Woongjin plans to build an overseas partnership ecosystem centered on the Global Delivery Center (GDC) established locally. The headquarters in Korea will be responsible for localization and research and development of the solution, while the overseas subsidiary will handle technology, sales, and customer support, and partner companies will take charge of license reselling as well as system implementation and operation. Through this structure, the company aims to simultaneously enhance service quality and responsiveness to local customers.

Soo Young Lee, CEO of Woongjin, stated, "The Malaysian subsidiary will serve as a second headquarters for our expansion into Asia, and with this opening, Woongjin will take a significant leap forward." He added, "We will make a tangible contribution not only to Korea but also to the Malaysian economy."

This content was produced with the assistance of AI translation services.