Ivy Kim Young Shows Rapid Growth in 'Employment Education' Sector Ahead of SPAC Listing

[Asia Economy Reporter Lim Jeong-su] Ivy Kim Young, a university transfer specialized education company affiliated with Megastudy, has received a green light for listing through a Special Purpose Acquisition Company (SPAC). With significant performance improvements in the employment education sector, the corporate value is expected to rise.

On the 27th, Ivy Kim Young announced that sales in the employment education sector for the second quarter of this year are expected to grow more than 20 times compared to the same period last year. The investment effects are showing as the company focuses on developing the employment education sector as a key business. The market share in this sector has reached 68.3%.

In particular, Megastudy IT Academy, Megastudy Computer Academy, and Startory Beauty Academy, which provide employment education services for adults, have established themselves as new growth engines. An Ivy Kim Young official explained, "By providing educational services that can be immediately applied in the field, sales have increased."

Investment is also ongoing. Ivy Kim Young opened the Megastudy Computer Academy Suwon branch in June this year and will open the Megastudy IT Academy Sinchon branch in July. Startory Beauty Academy will additionally operate the Gangnam annex and Sinchon (Ewha) branches in August and September, respectively.

Ivy Kim Young entered the university transfer market by opening the Kim Young Transfer Dongdaemun Campus (currently Jongno Campus) in 1977. It was incorporated into the Megastudy group in June 2011. The company has maintained a growth trend by creating the industry's first offline specialized single-subject centers and strengthening its platform through online video service provision.

Kim Seok-cheol, CEO of Ivy Kim Young, stated, "Not only young students but also adults have many career concerns," adding, "Ivy Kim Young will provide educational opportunities related to jobs and practical skills to adults through the revitalization of employment education."

Ivy Kim Young is conducting an initial public offering (IPO) for a merger with NH SPAC No.15. The merger ratio is 1:1.217, and the merger date is set for September 22. NH Investment & Securities is in charge of the listing underwriting.