As technology continues to advance, new positions spring up every single month. However, getting people to fill these positions is difficult because most are not qualified for these new positions. It is already super competitive in Korea to get a job in the first place. There are too many job seekers with the same experience and education. Add this to the fact that the top 10 conglomerates in Korea, such as Samsung and Hyundai, make up half of South Korea’s total market capitalization. However, they only account for 13% of Korea’s workforce. This has led many Koreans to look to improve their skills in other areas to increase their chances of landing that perfect job. With such high demand, adult learning startups in Korea have been rising.
All the listed ed-tech startups in Korea have seen a rise in subscriptions and members over the years, and it has compounded due to the effects of COVID.
Adult Learning Startups in Korea
Class101
One of the hottest Korean SaaS startups in the education sector is Class101, a hobby-focused social networking/e-learning platform. Users can subscribe to Class101 to share their hobbies with others on the platform. The platform offers online classes for various hobbies, from calligraphy, crafts, illustrations, cooking, and many more. Teach online video class is created by a top-trending artist or influencer in their industry. Think of Class101 as MasterClass for Korea. They have over 10,000 creators teaching classes and have a satisfaction of over 98%. Moreover, most subscribers are those aged 20-30 looking to create a work/life balance in Korea.
English and Japanese Classes are Available
Class101 is now offering English and Japanese classes. They have a dedicated digital drawing, music, and illustration section for international learners. Some of the most popular classes include a hip-hop class by Korean rapper Gray. Class101 also offers kits containing all the materials for learners to complete a class. Furthermore, there is an online feedback community where instructors and learners exchange feedback on the process and progress they are making.
They have raised over $35 in funding from Korean VC firms SoftBank Ventures Asia, KT Investment, and others. Their focus for 2022 will be on content production and platform development.
“This funding will help Class101 build a stronger economic foundation for the creation of more diverse classes and content creators. We also have aspirations to become the best-known image of hobby learning platform that represents the nation the best,” said CEO of Class101, Ji Yeon Ko.
Inflearn
Korean EdTech startup Inflearn is a platform that provides educational content through its online courses in design, programming, AI, and big data. Their focus for 2023 will be on improving user experience and creating stronger personalized course recommendations for their students. Most of their content is in Korean, and many consider Inflearn as the Udemy of Korea. Furthermore, their platform consists of industry experts who do a great job sharing their knowledge in their sector.
Day1 Company
Day1 Company, a rebrand from adult education provider Fast Campus, creates educational content for adults for both B2C and B2B customers. They offer online job training, foreign language training, and education specialized for employment. Besides Fast Campus, some of their other B2B education providers include Lemonade, a foreign language education, and Snowball, which specializes in job training. They have successfully expanded outside of Korea and into the Japanese market. Their Series D round brought in $28 million from Hanwha Life Insurance, Signite Partners, and Mirae Asset Securities.
Studypie
Studypie runs a community-based learning platform called EveryCre. It offers e-books, coaching, one-day classes, meetings, lectures, and more from top influencers and creators in Korea. Therefore, they offer a variety of customized education services in various subjects. It is a great platform to learn about digital marketing, video production, coding, stock, real estate, and even webtoon creation. If users study every week and finish their weekly assignments, they can get a refund of up to 50% of the service fee. This is a great incentive for members to complete their studies on Studypie.
