Gold&S announced on the 12th that its core business, the English education business, is growing without any issues.
Shin Seung-ho, CEO of Gold&S, stated, "The recent sharp decline in stock price is unrelated to the company's management situation," adding, "The education business is sailing smoothly both online and offline."
Gold&S had concerns internally about whether there were any problems due to the recent stock price drop. In response to the Korea Exchange's inquiry disclosure regarding market fluctuations, Gold&S replied on the 7th that there are no important disclosure matters currently in progress or confirmed under disclosure regulations.
Gold&S is a specialized English education service provider operating English academies directly and through franchises, as well as online test English education. Since 2021, it has expanded its scope in the children's English education sector to offer online courses for test English such as TOEIC and TOEFL.
A company official said, "The test English education sector acquired in 2021 is a steadily growing business every year," and added, "The advertising effects executed last year are reflected, making the improvement in test English education performance in the second half of the year visible."
As part of the management normalization plan at the end of last year, the early childhood and elementary English business division was spun off, and profitability is expected to improve this year. As of the end of the first quarter, cash assets amounted to 10.8 billion KRW, providing sufficient investment capacity for discovering new growth engines and strengthening business competitiveness.
CEO Shin said, "I apologize for causing concern to our shareholders," and added, "We will prove our business performance through sales growth and show the company’s progress."
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