South Korea’s e-learning industry grew 11.8% on-year in 2009, according to a report by Korea’s Ministry of Knowledge Economy.

The report stated that domestic e-learning businesses’ sales revenue reached 2.09 trillion won (US$1.82 billion) last year.

With many families struggling with mounting bills, e-learning presents a cheaper learning alternative than attending Korea’s notorious private institutions, known as ‘hakwons’.

Additionally, new government regulations restrict Seoul hakwons from providing classes past 10pm, which according to parents, leaves at least two quality hours which Korean students could spend studying.

Whereas possibly bad news for Korean students, the rapid growth in e-learning is good news for GY Intech a next-generation education provider, delivering services utilizing patented artificial intelligence-based voice recognition technology through video-communication methods.

For more information on the company see Investment Opportunity:  GY Intech.