EBS Content Loaded on 'Jeonjachilpan'... LG Electronics Accelerates '490 Trillion' Edutech Business

EBS and Ubion Sign Business Agreement for Global Educational Content Project

LG Electronics is accelerating its entry into the global edutech market worth 490 trillion KRW by leading with the 'LG Electronic Blackboard' equipped with an educational content platform service. The company plans to expand its business scope by integrating a content platform service into the educational smart display 'LG Electronic Blackboard.'

LG Electronics, EBS, and Ubion are taking a commemorative photo after signing a 'Business Agreement for Expanding Global Educational Content Business.' LG Electronics will install the EBS content platform service on the educational smart display 'LG Electronic Blackboard.' Photo by LG Electronics

On the 25th, LG Electronics announced that it recently signed a 'business agreement for global educational content business development' with the Korean Educational Broadcasting System (EBS) and UBION. Through this agreement, the EBS content platform service will be installed on the LG Electronic Blackboard. The company aims to expand its business area with an educational solution that combines the product and content. UBION, a specialized edutech company, will develop and operate the EBS platform application embedded in the LG Electronic Blackboard.

Edutech is a rapidly growing B2B business sector that incorporates the latest IT technologies. According to market research firm Grand View Research, the global edutech market size is expected to grow from approximately $163.5 billion (about 228 trillion KRW) this year at an average annual growth rate of 13.4% to about $348.4 billion (about 486 trillion KRW) by 2030. Among these, educational content is regarded as a field with high growth potential.

Through this collaboration, LG Electronics plans to install the platform service for EBS's representative content, 'Great Courses,' on the LG Electronic Blackboard. Great Courses is a content series that gathers lectures from over 100 world-renowned scholars such as James Cameron (film director), Yuval Harari (historian), and Jared Diamond (cultural anthropologist). It has been well received after being translated into English, French, Spanish, Chinese, and other languages.

Customers using the LG Electronic Blackboard can comfortably watch Great Courses lectures on a large screen and utilize them in classes. They will also receive services such as six months of free viewing. LG Electronics plans to create a new 'non-hardware' (Non-HW) revenue model in the B2B sector by selling educational content as well as supplying products.

The three companies plan to continue cooperating to discover educational content to be installed on the LG Electronic Blackboard beyond Great Courses.

LG Electronics is focusing on the edutech business with the electronic blackboard at the forefront. Over the past three years, it has supplied about 10,000 LG Electronic Blackboards to more than 2,900 public high schools in Odisha, India. The LG Electronic Blackboard lineup ranges from 55-inch to 98-inch models, making it a highly versatile product that can be customized for various educational spaces.

Baek Gi-moon, head of LG Electronics' ID Business Division, said, "We will actively target the edutech market with differentiated educational solutions that combine LG Electronics' display technology with educational content."