LGU+ Makes Equity Investment in Groby Education... Totaling 15 Billion Won

LG Uplus announced on the 26th that it has made an equity investment of approximately 10 billion KRW in the edutech company ‘Groby Education’ to strengthen the educational content business of Idleulnara and signed a business cooperation agreement for business collaboration.

This is the second equity investment in Groby Education, following 5 billion KRW in February this year. LG Uplus’s cumulative investment amount is about 15 billion KRW.

At the LG Uplus Gangnam office, Park Jong-wook, Executive Director of LG Uplus (left), and Park Cheol-woo, CEO of Grobi Education, signed an MOU and took a commemorative photo. Photo by LG Uplus

Through this investment, LG Uplus will first secure the priority supply rights for Groby Education’s competitive educational content such as English, mathematics, and Korean. Groby Education’s content will be linked to the kids-only service Idleulnara to launch a service that intensively strengthens the book and learning sectors. In addition, the two companies plan to expand cooperation areas such as digitization of major educational content and joint development of educational content.

Since last year, LG Uplus has proactively invested in a total of four edutech companies including ▲Hodoo Labs ▲Enuma Korea ▲Jjaekak Agio ▲Groby Education, strengthening the educational content competitiveness of Idleulnara while exploring new revenue generation opportunities. According to the market research firm Global Market Intelligence, the global edutech market is expected to grow from about 241 trillion KRW in 2019 to about 532 trillion KRW in 2025, more than doubling, making it a highly promising growth market.

Groby Education is an edutech company operating ‘SuperV,’ a smart learning service for young children that provides English, mathematics, and Korean educational content for children aged 4 to 8 through a dedicated tablet. In the English learning area of SuperV, it holds about 288 English story contents, the largest in the industry, and over 2,400 English books. It also has production capabilities, producing more than 60% of all content through AI image recognition patent applications and its own studio, which is expected to contribute to its future growth potential.

Jongwook Park, CO (Executive Director) of LG Uplus Idleulnara, said, “Through the investment in Groby Education, we can provide differentiated digital learning content to customers using Idleulnara,” adding, “We plan to continue leading the kids market by combining LG Uplus’s solid technology with Groby Education’s digital book content and learning content.”

Cheolwoo Park, CEO of Groby Education, said, “We are pleased to collaborate with LG Uplus, which possesses various kids-related content and technological capabilities, and we expect this to be the optimal opportunity to provide Groby Education’s digital learning services to various children domestically and internationally,” adding, “We will continuously enhance the service and develop new products to play a pivotal role in digital learning content collaboration with LG Uplus.”

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