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![]() Language Training Market in KoreaExecutive SummaryIn recent years, Korea has spent more per capita on English language training than any other nation. Indeed, the Korean market is significant: $4.6 billion1 spent on English language education abroad, and between $2 billion and $4 billion spent domestically. The English education market in Korea has been growing for many years, during which time there was a widespread perception that the quality of compulsory English curricula in schools was poor. The market in Korea has been satisfied primarily by local private institutes and English language institutions in Canada and in other countries. In fact, more Koreans study English in Canada than any other nationality. In many cases, job applicants in Korea must now demonstrate English skills as a condition of employment. This fact together with the pervasive influence of Western culture has prompted many business-minded Koreans to launch language training facilities and many families with school-aged children to spend a significant portion of their savings on English education. The local education industry has witnessed the rise and fall of countless ventures, ranging from conversational English and grammar institutes to English learning through differentiated offerings such as dance, movies, and political debate and discussion schoolsall targeting the large reserves of discretionary income that Korean consumers are willing to spend on learning English. The market is now saturated with general English education services, but lacks specialized and customized offerings that could benefit Koreas society and its economy as a whole. It is not unusual to find Koreans with a good command of English working long days at private English schools, while comparatively less skilled staff work in public schools and the hospitality, tourism and leisure industries, all of which could benefit from better trained staff. A number of factors have arisen recently that will change the dynamics of the English education market in Koreaand will ultimately affect the prospects for Canadian language training providers, both in Korea and in Canada. 1. All monetary amounts are expressed in Canadian dollars, unless otherwise indicated. The conversion to Canadian dollars is based on Bank of Canada rates. |
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Created: 2007-04-10 Updated: 2007-05-14 ![]() |
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