Hunet Soars with Non-Face-to-Face... Record First Quarter Performance

40% Growth Compared to Same Period Last Year
Sales Acceleration Amid Educational Paradigm Shift

Lifelong education specialist Hunet announced on the 23rd that it recorded its highest-ever performance in the first quarter, driven by the growth of the non-face-to-face education market. The photo shows Hunet's online live lecture scene. Photo by Hunet

[Asia Economy Reporter Kim Heeyoon] Lifelong education specialist Hunet announced on the 23rd that it recorded its highest-ever performance in the first quarter, driven by the growth of the non-face-to-face education market.

Hunet stated that it secured confirmed sales of 41.4 billion KRW in the first quarter. This is the highest quarterly performance ever and represents a 40% growth compared to the same period last year.

Having achieved its highest annual sales last year, Hunet continues its explosive growth this year. Hunet analyzed that the rapid growth of the non-face-to-face education market due to COVID-19 and the swift transition from offline education to e-learning are the main reasons behind this.

According to Hunet, the adoption of online education platforms by companies has noticeably increased. This includes cyber training centers, Learning Management Systems (LMS), and live lecture solutions. Hospitals, technology companies, and health education centers have started e-learning in earnest this year and have adopted Hunet’s online education platforms.

Additionally, the rapid shift of traditional offline education sectors to online has also had an impact. Representative group training such as new employee orientation and promotion training began transitioning to e-learning starting last year. Hunet added that most companies are conducting core talent education non-face-to-face, and the replacement of offline education by online education is becoming a cultural norm.

Cho Youngtak, CEO of Hunet, said, “As we enter the second year of COVID, the growth of non-face-to-face e-learning that began last year has accelerated, and as of April, we have confirmed annual sales of 50 billion KRW. Companies that postponed offline education due to COVID last year are rapidly adopting non-face-to-face education this year, so the growth rate of e-learning is expected to accelerate further.”

Meanwhile, leveraging the growth based on non-face-to-face education, Hunet plans to establish Hunet USA and an Artificial Intelligence Education Research Institute early this year, along with plans to go public in 2023.