[Infostock Daily= Reporter Park Sang-In] Chungdahm Learning announced on the 31st that it has signed a license agreement with Apax English, Vietnam's No. 1 English education company, regarding the supply of education curricula for Chungdahm Learning.
Under the contract, Chungdahm Learning will supply Apax with major flagship brand curricula of Chungdahm Learning, including Aprill Language Institute, Chungdahm Learning Institute and Igarten over the next seven years.
In return for the supply, Chungdahm Learning will receive ‘licensing down payment for the use of the curriculum’ and ‘running royalties based on the number of students’. If the contract goes well, the estimated royalty earnings for this year will exceed $3 million.
Chungdahm Learning signed a license contract with Apax in 2014 and entered Vietnam's English education market in earnest from 2015 and became the No. 1 business in the local market in three years. Currently, it has 50,000 students in 125 branches, mainly in Hanoi and Ho Chi Minh City.
An official of Chungdahm Learning said, "The curriculum of Chungdahm Learning, which has proven its excellent learning effect in the domestic market, will be settled in the Vietnamese market, which will have a huge impact on the local English education market."
Reporter Park Sang-In si2020@infostock.co.kr
