Daekyo's AI Product Sales Reach 100 Billion KRW Annually... Impact of 'Nori' Acquisition

[Asia Economy Reporter Kim Daeseop] Daekyo announced on the 16th that it turned profitable within one year of acquiring the education platform company 'Nori.'

Nori is an artificial intelligence (AI) math education platform company. Daekyo acquired Nori in August 2018 to actively promote edutech services. After acquiring Nori, Daekyo newly launched AI learning services 'Summit Speed Math' and 'Summit Score Math' in October last year.

As of the end of December last year, Summit Score Math surpassed 130,000 cumulative members. Additionally, the number of members for Summit Speed Math exceeded 40,000. The total number of members for Daekyo's AI learning services reached 170,000, an increase of about 175% compared to the same period last year. Sales from AI learning services also increased by about 193% year-on-year to 44.9 billion KRW.

Thanks to this, Nori recorded provisional sales and operating profit of 7.5 billion KRW and 200 million KRW respectively last year. This marks a turnaround from sales of 3.6 billion KRW and an operating loss of 4.1 billion KRW the previous year. Established in 2012, the startup Nori recorded a profit for the first time this time.

A Daekyo official said, "After acquiring Nori, Daekyo was able to grow together by steadily striving to provide learning programs utilizing AI math analysis and management technology," adding, "In the future, Daekyo will introduce new learning programs incorporating AI technology in more subjects including math, and sales related to AI products are expected to grow to an annual scale of over 100 billion KRW."

This content was produced with the assistance of AI translation services.