Korean online education companies thrive
2009/07/01 11:33Korean students are pushed on academics and it’s helped create a giant market for companies delivering online courses. The New York Times profiled one of those firms, Megastudy:
About 2.8 million students, including approximately half of all college-bound high school seniors, are members of Megastudy, which allows them access to some of the country’s most celebrated exam tutors. For a fraction of what they would pay at traditional private “cram schools,” students can watch video-on-demand tutorials on home computers or download them into hand-held devices for viewing in the subway or parks.
A recent plan by the Korean government to restrict the closing time of “hagwons” attended by students might just move them to studying more online:
Market watchers point out that the Korea-specific phenomenon ― if the government tries to reduce private education costs in one area, the money will flow into another segment ― will offer a windfall to the country's education companies that have already chalked up fast growth over the past few years.
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