Vietnam is a country with educational aspirations as much as Korea and Japan. According to KOTRA (Korea Trade-Investment Promotion Agency, KOTRA), in a survey of 216 married women in Vietnam in 2019, 199 respondents said they had experience in private education of their children, 92%. The private education-related market is also on the rise as interest in children’s education grows in line with the high economic growth rate of more than 6%.
The growth of the Vietnamese education market also plays a role in women’s active economic activities. Half of Vietnam’s economically active population is women. Compared to other Asian countries, the proportion of female executives is also high. According to global accounting consulting firm Grant Thornton, the proportion of female executives in Vietnam in 2021 was 39%, higher than the global average (31%). Since there are many double-income couples, there is a need for a service that allows them to entrust and educate their children after school.
The problem is that there is a huge lack of people and facilities that can be trusted and entrusted. Vietnamese daycare centers have many unregistered companies. As a result, most places are unsanitary and do not have a childcare environment. It is also not easy to find someone who can trust and entrust children at home. Most rely on word of mouth.
In May 2021, CEO Kwon Young-wook and Chief Operating Officer Yoon Sun-hee, the couple’s founders, established “Yaho Lab” in Ho Chi Minh, Vietnam, in order to ease the concerns of Vietnamese parents. Yahoo Lab, which provides reliable care services in a mobile environment, has exceeded 6,000 hours of cumulative care within 15 months of its launch.
Investors who paid attention to the growth potential of Yaho Lab boldly made investments. Accelerator (AC), which is building a successful track record in Vietnam, and Korea Investment Accelerator (Hantu AC) of Korea Financial Group (58,500 won ▲ 300 + 0.52%), which was launched earlier this year, recently made seed investments