Cleverse, Expands in Vietnam... "License Agreement Continues"

Cleverse announced on the 1st that it has signed a new license agreement to export English curriculum and textbook IP with XGENIUS ENGLISH, a local education company in Vietnam. With this, Cleverse has achieved the milestone of exporting its own IP to Vietnam for the third time in 2024.

In June of this year, Cleverse secured two export contracts to Vietnam. The first contract involved entering the offline public education sector and private education market throughout Vietnam with English brands such as Kienguru, Chungdam Language Institute, and April. The second contract was for exporting the V-Hoc and CMS math curriculum and textbook IP.

EduLabs is a startup established in Vietnam in 2024, but its management team consists of prominent figures in the Vietnamese education industry. It has already secured investments from venture capitalists (VCs), and ahead of its full-scale offline expansion starting in July, it signed a contract with Cleverse, which has already been proven successful in Vietnam.

Meanwhile, Cleverse plans to open about 20 branches across Vietnam in cooperation with EduLabs in the second half of the year, starting with classes for preschool and elementary students in the Hanoi area.

Lee Dong-hoon, CEO of Cleverse, said, “We have secured not only offline channels such as public and private education in Vietnam but also online channels. Through continued partnerships with local Vietnamese education companies, Cleverse will overcome regional limitations and use its solid market share monopoly and successful track records in both Korea and Vietnam as a stepping stone to strengthen its position in the global market.”