[Column] Concerns Over Reverse Discrimination in Edutech Industry Following Minister Lee Ju-ho's Appointment

Lee Ju-ho, Deputy Prime Minister for Social Affairs and Minister of Education.

[Asia Economy Reporter Donghyun Choi] "I am worried that support for the edutech industry might be deliberately reduced."

This is a complaint conveyed by the CEO of an edutech company following the return of Lee Ju-ho as the Minister of Education and Deputy Prime Minister for Social Affairs after 9 years and 7 months. Since strong allegations of collusion with edutech companies were raised during his appointment process, there is talk that, at least for the time being, edutech companies might be neglected to dispel such suspicions. In fact, in his inaugural speech on the 7th, Minister Lee did not use the word "edutech" at all.

Edutech is a rapidly growing core industry worldwide and a kind of paradigm that is transforming education at the fastest pace. Last year, the domestic edutech market sales reached approximately 7.325 trillion KRW, growing at an average annual rate of 8.5%, and it is expected to reach 9.9833 trillion KRW by 2025. The global edutech market, growing at an average annual rate of 12%, is projected to expand from $153 billion in 2018 to $342 billion (about 476 trillion KRW) by 2025, according to some studies.

Currently, a silent war is raging in the global edutech market. Like dramas or webtoons, education is recognized as a form of content, and under strong government support, corporate nurturing is in full swing. In the UK, the Ministry of Education provides vouchers to schools to purchase edutech services. Thanks to this support, there are over 1,000 edutech startups in the UK alone. China is very active in investment, holding more than half of the world's edutech unicorn companies. The US, India, and others are also focusing policies and funds on nurturing edutech companies. The educational content created by these companies is exported worldwide.

In Korea, it is fair to say that there is almost no policy support for edutech. The country is just beginning to build a system under the name "K-edu Integrated Platform." The slow progress stems from a low understanding of edutech. Many still regard edutech as private education companies trying to enter the domestic public education market. There are still many cases where edutech is misunderstood as simply "e-learning," which moves offline classes online. Edutech has long expanded into fields such as games, foreign languages, and coding by combining with Internet of Things (IoT), big data, artificial intelligence (AI), and metaverse (extended virtual worlds) to provide education that enables learners to achieve maximum efficiency.

With detailed government policies backing it, edutech can become an excellent means for poor students in rural areas to receive quality education regardless of location. It can also bring innovation to the deteriorated public education system. Following K-pop and K-drama, it is not impossible for K-education to dominate the global market. Our edutech companies' influence is already rapidly expanding in the Southeast Asian region.

In this situation, if Minister Lee takes a pause in nurturing edutech, the already lagging edutech industry compared to competing countries will inevitably fall further behind. This is not just from an industrial perspective. As educationist John Dewey said, "If we teach today's students in yesterday's way, we rob them of their tomorrow," making it essential for the education of our next generation.