ST Unitas will grow into a global player, providing its state-of-the-art online education programs for tens of millions of students across the globe, according to company Vice President Cho Se-won.
In a recent interview with The Korea Times, the 38-year-old said the Princeton Review will play a crucial role in its globalization, stressing ST Unitas will make the best use of the massive big data that the American company has accumulated for years.
In early 2017, ST Unitas acquired the Review to capitalize on its reputation for global expansion. Cho directs the American education service firm's online business at the Korean private learning institute operator's local office in the United States.
"The global market for education of applicants for American universities still depends highly on offline lectures, so our top priority is to attract the applicants to our online education platform," Cho said. "We will combine our technology with offline education content that the Review has offered in 20 countries. Starting from Korea, we will begin offering our new service in the U.S. and Asian countries."
According to the vice president, the Review's recent briefing session for Korean students considering studying abroad attracted over 270 applicants, although it could offer 150 seats to attendees. In Korea, most briefing sessions for students preparing to study abroad have been attended by less than 60.
The Review's real time online lectures delivered here in July and August collectively recorded 1,700 views as well.
Based on such huge popularity in Korea, ST Unitas plans to open the education service firm's website in India and Middle Eastern countries by the end of 2018.
The size of the global market for education of students preparing for tests to enter U.S. colleges is estimated at 4 trillion won ($3.5 billion). The market size is expected to grow rapidly, as an increasing number of Indian students have been eager to study in the U.S., following Google and Microsoft's appointments of CEOs from that country.
"The Review has already offered its offline lectures in several Asian countries for students who want to study abroad. After opening a website in each country, we will come up with differentiated online education service to help millions of test-takers of SAT and ACT exams get the scores they want in a short time," Cho said.
He added demand for online education is also growing in the U.S., as studying methods in Asian countries have been popular with white American students.
ST Unitas has therefore been trying to take the lead in the U.S. online education market.
The company seeks to introduce its artificial intelligence-based education service named Stella to the U.S. Cho said Stella has been learning the Review's big data related to SAT exams through deep and machine learning methods.