Notice

Su Young Lee, CEO of Woongjin (fifth from left), poses for a commemorative photo at the opening ceremony held in Kuala Lumpur, Malaysia, on June 17.

- Expanding local customer base with Global Development Center (GDC)

- Strengthening service quality and local responsiveness through specialized roles in development, sales, and operations

- Second overseas subsidiary after the U.S., driving global growth and sustained revenue momentum

Seoul, June 20, 2025 — Woongjin Co., Ltd. (CEO Su Young Lee) announced the establishment of a local subsidiary in Kuala Lumpur, Malaysia, as part of its strategy to expand into the Southeast Asian market. The opening ceremony, held on June 17 at the Amari Kuala Lumpur Hotel, was attended by local heads of LG Electronics and SK Magic, as well as representatives from the Korea Trade-Investment Promotion Agency (KOTRA) Kuala Lumpur office, the Korean Society in Malaysia, the Korean Chamber of Commerce Malaysia (KOCHAM), and the Alumni Graduate of Institution of Korea (AGIKO).

Malaysia is considered a prime rental business market in Southeast Asia, with a high income level and a stable business environment. Reflecting these market conditions, Woongjin plans to introduce its Woongjin Rental Management System (WRMS) to Korean companies operating in Malaysia and local rental firms.

WRMS, developed by Woongjin, is an integrated solution that supports all services essential to the rental business, including contract management, billing, and customer management. Built on standardized core functions, it allows selective feature additions tailored to each client’s industry and operations, providing both efficiency and scalability. Woongjin has already proven its market competitiveness through successful system implementation projects for major rental companies in Korea.

The company plans to establish a partnership ecosystem centered on its new Global Development Center (GDC). Under this structure, Woongjin headquarters in Korea will oversee localization and R&D, overseas subsidiaries will focus on sales, and customer support, and partners will handle license reselling and implementation. This division of roles is designed to enhance both service quality and local responsiveness.

The Malaysian subsidiary marks Woongjin’s second overseas base after its U.S. entity. Serving as a strategic hub for Southeast Asia and a gateway for broader expansion across Asia, the new subsidiary carries significant strategic value. With the rental industry’s strong growth potential and rising demand for IT infrastructure, Malaysia offers an optimal market for Woongjin’s core solutions and operational capabilities. The company expects the new subsidiary to further solidify its position as a global B2B IT services provider.

Sung-ki Lee, head of KOTRA Kuala Lumpur, remarked in his congratulatory speech:
“With growing demand for AI and cloud solutions in Malaysia, Woongjin’s entry into the solutions business is very timely. We expect this will further elevate the presence of Korean IT companies in the local market.”

Jong-hwa Kim, President of the Korean Society in Malaysia, added:
“Woongjin’s establishment of a local subsidiary reflects its deep understanding and preparation for the Malaysian market. The Korean community will also stand as a strong partner in this journey.”

CEO Su Young Lee stated:
“The Malaysian subsidiary will serve as our second headquarters for expansion into Asia. Through this opening, Woongjin will take a significant leap forward while making tangible contributions to both the Korean and Malaysian economies.”