The Unwavering Passion for English Education Despite the Emergence of Translation Apps and AI Interpreters

Edutech Company in English Education Achieves Strong First Half Performance
Special Demand from Overseas Travel, Vacation, and School Breaks

Service image of 'Speak', an English learning solution operated by SpeakEasy Labs. (Photo by SpeakEasy Labs)

This year, the performance growth of EdTech companies in English education stands out. Despite the continuous advancement of translation technology and the emergence of AI interpreters, the enthusiasm for English education remains strong.

Spik E-Z Labs, which operates the AI English learning solution 'Spik,' announced on the 25th that its sales in the first half of this year increased 2.05 times compared to the previous year, achieving the highest sales ever. Headquartered in Silicon Valley, USA, Spik launched its application in Korea in 2019, providing English speaking education services based on AI voice recognition technology. Users engage in conversations with AI in scenarios such as restaurants, travel destinations, and interviews, then receive feedback. Nikolai Zwick, CEO of Spik, said, "This is an amazing achievement four years after entering the Korean market," adding, "We plan to develop the optimal user experience so that anyone can effectively learn English wherever they want using AI technology."

Ipapsoft, which operates the AI-based English learning app 'Malhaeboca,' recorded sales of 8.3 billion KRW in the first half of this year, surpassing last year's annual sales of 7.6 billion KRW. The company also turned a net profit. Ipapsoft was founded in 2018 by developers who created games such as Crazy Arcade, KartRider, and FIFA Online. Malhaeboca, launched in December 2019, is an app that helps users learn English vocabulary and grammar tailored to their level using AI. According to statistics analyzed by big data platform company IGAWorks Marketing Cloud based on Android and iOS, Malhaeboca ranked first in the English education app category in the first half of this year.

Sales of 'AI Conversation' content from 'Noesaegim,' the language learning brand of tablet PC-based language learning company Weversmind, are also rapidly increasing. In the second quarter alone, 73% of all Noesaegim users utilized this content. The sales proportion in the second quarter grew by 16.5% compared to the first quarter, marking the largest increase among all learning content from Weversmind. Weversmind was founded in 2009 by CEO Jung Sung-eun, a founding member of domestic mobile game company Gamevil. AI Conversation is a learning content where users converse with an AI tutor via messenger. The AI analyzes the conversation content and provides customized learning according to the user's interests and learning level. It also analyzes and corrects the learner's pronunciation. A Weversmind representative said, "There is considerable enthusiasm among workers in their 40s," adding, "There are also many senior learners who want to try ordering a hamburger alone during overseas travel."

EdTech companies in English education unanimously stated that demand for English education is increasing as more people travel abroad following the COVID-19 endemic phase. They also mentioned that due to seasonal factors such as vacation and school breaks, third-quarter performance is not declining compared to the previous quarter. According to data analyzed by digital-based English conversation solution company 'Ringle' from 2021 to 2022, English learning hours and sales in July and August were 13% higher than the average of other months. Lee Seung-hoon, co-CEO of Ringle, said, "Many people focus on self-development during summer vacations to achieve goals such as studying abroad, job changes, and employment," adding, "Our own survey showed that demand was highest among people in their late 20s to mid-40s."

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