LG Uplus Invests 2.5 Billion KRW in Edutech Startup 'Enuma'

The photo shows Park Jong-wook, Executive Vice President and Chief Officer of 아이들나라CO (Idle Nara CO) (left), and Jeon Yu-taek, CEO of Enuma Korea, signing an MOU and taking a commemorative photo at the LG Seoul Station Building.

[Asia Economy Reporter Lim Hye-seon] LG Uplus announced on the 14th that it has invested in the edutech startup ‘Enuma’ to strengthen its children's educational content business. This investment is the second following ‘Hodoo Labs’ in January this year. The investment amount is approximately 2.5 billion KRW.

According to the global market research firm Holon IQ, the global edutech market size is expected to increase from about 250 trillion KRW in 2020 to about 450 trillion KRW by 2025. LG Uplus expects that proactive investments in specialized edutech companies will strengthen competitiveness in children's educational content and lay the foundation for new revenue generation.

Enuma is a global edutech provider offering basic subject-focused learning services such as Korean, math, and English for children aged 3 to 8. Its main products include ‘Todo Math,’ which offers customized learning in eight languages with various modes and levels; ‘Todo English,’ which allows children to learn English enjoyably like playing a game; and ‘Todo Hangeul,’ a Korean literacy learning service.

Previously, LG Uplus has been providing Enuma’s Todo Math service through its elementary school student-exclusive learning service ‘U+ Elementary Country.’ More than 70% of U+ Elementary Country users use this service, making it the most utilized.

Through this investment, LG Uplus plans to strengthen its partnership with Enuma and continuously supply Enuma’s competitive content to its own early childhood platform.

The two companies plan to further expand their collaboration areas, including learning services that link Enuma’s digital content with U+ Kids Country’s video solutions, as well as joint development of coding and economic education content.

They will also actively cooperate in the field of corporate social responsibility (CSR). Enuma is actively engaged in social contribution activities to improve basic learning levels of children in developing countries weakened by the prolonged COVID-19 pandemic, while LG Uplus supports the ‘U+ Elementary Country’ education service for children of military personnel, as well as providing smart pads and communication fees.

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