Korea Laundry Announces Expansion into Vietnam, 'Dreaming of Becoming the Apple of the Laundry Industry'

Korea Laundry Co., Ltd., which operates the country's first laundry multiplex 'Urban Landret' and the IoT-based unmanned laundromat 'Wash & Joy,' announced that it is preparing to enter the Vietnamese market in partnership with Vietnamese laundry solution service company TMC Vietnam Company.

Since entering Thailand in 2021 through a master franchise contract and securing a 49% stake, Korea Laundry Co., Ltd. has successfully opened over 50 stores. In the Thai market, it has established the Korean-style self-laundry model by exporting not only basic self-laundry solutions but also the mobile payment platform Wash & Pay and the unmanned store operation solution Inbot platform.

The recent visit by TMC executives is reportedly due to the high growth potential of the laundromat business in Southeast Asian regions with similar hot and humid climates and small housing spaces relative to population density, as well as the reputation of Korea Laundry Co., Ltd., which already has overseas expansion experience. TMC is a leading Vietnamese laundry specialist with 20 years of experience, operating multiple laundry factories and recognized as a top company in hospital laundry processing. Last year, TMC signed an MOU with Korea Laundry Co., Ltd. and plans to conclude a master franchise investment contract within 2022 at the earliest.

That is not all. In September, at the request of The Federation of Korean Dry Cleaners Association, Korea Laundry Co., Ltd. held practical MOU discussions for entering the U.S. wet cleaning laundry market, and negotiations with a Philippine laundry factory company are also underway. Additionally, since attracting 5 billion KRW investment from NHN in 2019, the company has consistently drawn attention from venture capitalists, and recently has been in contact with Hong Kong and Japanese private equity firms, drawing keen interest in its future developments.

Regarding this, Korea Laundry Co., Ltd. CEO Seo Kyung-no said, “I feel a sense of mission as we are recognized not just as a simple self-laundry equipment distributor but as a tech company providing total self-laundry systems and owning a service brand,” adding, “We will soon unveil a new and innovative future-oriented laundromat business model and become the Apple of the laundry industry, standing tall not only domestically but also in overseas markets.”