[IPO] Ubion Grown Through 'Wowpass', Leading Global Edutech with Korea's No.1 University Edutech 'Cosmos'

[Asia Economy Reporter Jang Hyowon] EduTech company Ubion is transferring its listing from KONEX to KOSDAQ. Ubion plans to actively enter the global education market based on differentiated EduTech technologies such as Learning Management System (LMS).

On the 27th, CEO Lim Jaehwan of Ubion held a press conference in Yeouido, Seoul, to introduce the company's vision for the KOSDAQ transfer listing.

Founded in 2000, Ubion is an EduTech specialized company that enhances learning efficiency and effectiveness by integrating ICT technology into education. The company's main business areas include ▲LMS ‘Coursemos’ construction business ▲education service business such as finance and digital transformation (DX) education ▲national aid projects such as Official Development Assistance (ODA) and Economic Development Cooperation Fund (EDCF) projects.

Coursemos is a platform that integrates basic learning management systems with learner competency management, education system management, performance management, and career and employment support. It has differentiated strengths such as easy linkage with various learning solutions including metaverse platforms and Internet Based Test (IBT) systems, high security, and integrated cloud transition construction services.

As of the end of March this year, Coursemos has been implemented in over 120 universities, achieving the number one market share. Ubion plans to expand its target market from universities to corporations and elementary, middle, and high schools based on its successful experience in the university market.

In the education service business, Ubion operates the qualification education brand ‘WowPass’ for finance, accounting, and management, the credit bank system education brand ‘Ubion Remote Lifelong Education Center,’ and the ‘Ubion Digital Education Center’ that provides new technology education such as big data, artificial intelligence (AI), and digital finance for digital transformation.

Especially, as the K-Digital Training market is expected to reach a total size of 2 trillion KRW by 2025, the company plans to expand the operation of boot camps for new technology talent development education.

Additionally, the company is conducting national aid projects supporting education consulting, learning platform construction, and infrastructure improvement for developing countries. Ubion is responsible for all areas from development stage to content production, teacher training, and post-management. Having conducted projects for over 10 years, it has established local subsidiaries in Vietnam and Uzbekistan, securing broad regional bases.

Ubion has shown steady performance growth supported by the domestic and international EduTech market growth. The company, with a fiscal year ending in September, recorded sales of 28.067 billion KRW and operating profit of 1.724 billion KRW for the full year (October 2020 to September 2021), increasing by 23.9% and 17.4% respectively compared to the previous year.

In the recent third quarter (October 2021 to June 2022), cumulative sales reached 24.484 billion KRW and operating profit was 1.969 billion KRW. A company official stated, “With the global education market steadily growing and the synergy expected from our EduTech services, we anticipate a solid performance trend going forward.”

Ubion plans to raise approximately 5.5 billion KRW based on the upper limit of the public offering price band in this offering. The funds raised will be used to advance EduTech services, expand boot camp-based new technology education service business, and broaden the global sales pipeline.

CEO Lim Jaehwan said, “Through the KOSDAQ listing, we will leap forward as a global leading EduTech company leading the future education industry beyond Korea,” adding, “We will grow into a high-end EduTech-based global learning platform specialized company linked with new technology education services such as AI and big data.”

Meanwhile, the total number of shares offered by Ubion is 2.76 million shares, all newly issued. The public offering price band per share is 1,800 to 2,000 KRW. Demand forecasting for institutional investors will be conducted on the 2nd and 3rd of next month to finalize the public offering price, followed by general subscription on the 8th and 9th. The company is scheduled to be listed on KOSDAQ in November, with Mirae Asset Securities acting as the lead manager.

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