THE KOREA RENTAL
I really appreciate all of you for visiting Korea Rental Networks. The company was established in April, 2017 and has focused on the Rental Business. For the last 10 years, the Malaysian market has been in a stage of fast growth after the early stage of development in the Rental market. The growth of Malaysia rental market has two special reasons.
First of all, Malaysia is the most urbanized country among ASEAN countries, except for Singapore and Brunei. 74.5% of the population lives in the city. In addition, social infrastructure facilities have been developed consistently, such as roads and waterworks. Secondly, Malaysia PPP per capita reached almost 25,000 USD in 2016. It nearly approaches the Korean GDP of 27,561 USD. Malaysian demand is high for overseas luxurious brands and, in particular, Korean brands.
In the late 1990’s, Korea’s rental market grew – similar to the current Malaysian rental market situation. This year, Malaysia’s rental market for water purifiers and air cleaners has exceeded 600,000 customers. As we enter the market, the coming year will have over 1 million customers. Korea Rental Network will be the leading company in the Rental market business by seizing this opportunity in the Malaysian market.