Digital Daesung Reports 40.6 Billion KRW in Q3 Consolidated Sales... "E-Learning Business Booming"

[Asia Economy Reporter Yoo Hyun-seok] Digital Daesung, an educational content company, announced on the 10th through a public disclosure that it achieved consolidated sales of 40.6 billion KRW and operating profit of 9.8 billion KRW in the third quarter. Compared to the previous quarter, sales and operating profit increased by 33% and 105%, respectively.

The resurgence of COVID-19 increased interest in non-face-to-face education, positively impacting Digital Daesung's sales. The company cited the growth in the e-learning business performance as a factor for the improved results.

A Digital Daesung representative said, “With high-quality content and a strong lineup of instructors, membership has steadily increased, leading to growth in e-learning business sales,” and added, “Recently, the membership price for the CSAT online lecture ‘19PassXGalaxy Buds Live’ was raised, which is expected to further accelerate sales and operating profit growth.”

In addition to its online education business, Digital Daesung is pursuing a transformation into a comprehensive educational content platform company. On the 4th, it announced the simultaneous merger with Hanuri Open Education, which has solid sales performance, and Gangnam Daesung Dormitory Academy to enhance corporate and shareholder value. Through this merger, the company plans to strengthen its position as a comprehensive educational content platform by improving the educational content capabilities and competitiveness of each business.

Global market expansion has also been accelerated through the establishment of an international school in Vietnam. In June, Digital Daesung completed an international school operation contract with Chadwick, a prestigious private school in the United States, and the Vietnam international school is scheduled to open for the September 2022 semester. Starting with the establishment of the international school, the company plans to actively expand into overseas markets.

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