Yoon Seonsaeng Focuses on Korean, YBM on English... Different Strategies for the Same Vietnam Market

Yoon Seonsaeng Begins Development of University-Level Korean Textbooks
YBM Net Enters Ho Chi Minh Kindergarten English Education Market
Vietnam's 28 Million Students Highlight the Country's Passion for Education

Two leading English education companies in South Korea have entered the Vietnamese education market, each with a different strategy. Yoon Seonsaeng is focusing on developing Korean language textbooks for universities, while YBM Net is concentrating on English education for kindergartens. Both companies are looking beyond the domestic market, where growth is limited due to a declining school-age population, and are targeting Vietnam, where the number of students is increasing and enthusiasm for education is high, as a new growth engine.

According to the industry on September 12, Yoon Seonsaeng signed a contract with Hanoi National University of Foreign Studies earlier this month to jointly promote the "Vietnamese Korean Language Textbook Development Project," which covers the development and supply of Korean language textbooks. A representative from Yoon Seonsaeng stated, "This is the first university-level Korean language textbook to be primarily written by local faculty members." By June 2026, two beginner volumes and one intermediate volume will be published, and starting in September of the same year, these textbooks will be used as required materials for the Department of Korean Language and Korean Culture at the university. Afterwards, the textbooks will also be distributed to general learners through the university and bookstores.

Seol Hwangsoo, Executive Director, and Hoa Son, Vice President of Hanoi National University of Foreign Studies, signed a contract for the development of Korean language textbooks on the 4th (local time) at Hanoi National University of Foreign Studies in Hanoi, Vietnam. Photo by Yoon Seonsaeng

This approach is seen as a "niche" strategy to establish a foothold in the local market by simultaneously targeting the Korean language sector amid the Korean Wave, while also preparing for a full-scale export of English content. In Vietnam, there has been a particular lack of university-level textbooks and related research. The number of universities offering Korean language departments or courses in Vietnam increased from 23 in 2017 to 60 in 2023, but most textbooks have relied on publications from Korean university institutions. An academic journal published by the Southeast Asian Studies Institute at Hankuk University of Foreign Studies in April 2023 pointed out that research on Korean language textbooks has mostly focused on marriage migrants and workers, and that there are almost no textbooks developed directly by local universities.

Yoon Seonsaeng, which had already been exploring entry into the Vietnamese English education market, formed a consortium in 2022 with Hancom and Hanoi National University of Foreign Studies to jointly promote projects such as the online Korean Language Proficiency Test (K-IBT) in Vietnam. Yoon Seonsaeng took charge of the operation and distribution of the test, and together with Hancom, planned to distribute English learning content and edtech products in the future. Seol Hwangsoo, Executive Director of Yoon Seonsaeng and head of its overseas business in Vietnam, said, "Starting with this Korean language textbook development project, we will continue to pioneer various educational business opportunities in the Vietnamese market."

In contrast, YBM Net has chosen to directly enter the Vietnamese early childhood English education market as its core business. Leveraging the textbooks and curriculum of its affiliate, YBM ECC, the company formed a strategic partnership earlier this month with local edtech company Yaholab. YBM ECC’s English kindergarten textbooks and curriculum will be supplied to an English immersion kindergarten scheduled to open in Ho Chi Minh City in March 2026.

Although the Vietnamese government designated Korean as the first foreign language in 2021, English remains the most preferred first foreign language. According to the Ministry of Education and Training of Vietnam, Ho Chi Minh City ranked first in average English scores in the high school graduation exam for eight consecutive years through last year, reflecting the city’s strong enthusiasm for English education. This is the reason YBM Net has set its sights on this city. Kim Jongik, CEO of YBM Net, said, "This entry into Vietnam is an important opportunity to prove the excellence of the ECC curriculum in the global market," adding, "Starting with Vietnam, we will expand into various overseas markets, including Southeast Asia."

Although the two companies are targeting the Vietnamese market with different strategies and audiences, the reason for their focus is clear. While the school-age population is declining in South Korea, the number of students is increasing in Vietnam, making the education market highly promising. According to the Ministry of Education and Training of Vietnam, the total number of students for the 2022-2023 academic year reached 28 million. Of these, 18.2 million, or more than 70%, were K-12 students, and the number continues to rise. The number of kindergarteners also reached 5.17 million. Enthusiasm for education is comparable to that in South Korea. The university enrollment rate is expected to reach 73% this year.