E-learning Potential unveiled by Man of The Year Selection
Posted: December 31st, 2007, by Yunho Chung
As 2007 comes to an end a lot of new years lists are coming out. I just want to comment the selection of person of the year 2007 by iNews24, one of the largest IT news providers in Korea. They selected Son Ju Eun who is the CEO of the biggest e-learning company here, Megastudy. In 2000 was 300 000 USD invested and today is the stock value up to over 2 billion USD (registered on the stock market in 2004). That makes it the fourth biggest company on KSDAQ (The Korean version of NASDAQ) after NHDN, LG Telecom and Hanaro Telecom.
Why is this interesting? Well, first of all does this show the enormous potential of e-learning and how it can be very well utilized in a country like Korea. With only 160 teachers they manage to control 2 400 classes with a total member amount of around 2 million students. There are low limitations on time and place and it is obvious that there is a big virtual market for education. Megastudy has been focusing on preparations for the entrance exams to university (but also high school and middle school in general) while others, such as Credu with its roots in Samsung has managed to penetrate the business side.
After that short introduction to the educational industry in Korea, I want to wish all my readers a Happy New Year! I hope you keep reading the blog and that you will find it useful and interesting. I am always eager to hear your comments and ideas on Korean TMT.
