At the Crossroads of Business and Education: the South Korean Test-Prep Industry
As the internship hunt becomes increasingly difficult, many students at Princeton and its peer institutions are cashing in on the cache of their degrees by working for Kaplan, Ivy Insiders, and other test-prep companies. In South Korea, tutoring gigs can net you as much as $500,000 annually. A recent New York Times article highlighted Megastudy.net, an online test-prep company founded by one of the country's most successful tutors. Megastudy caters to students unable to afford the often prohibitive cost of private tutors, capitalizing on the country's obsession with educational achievement. With sales expected to exceed $195 million for the year and a customer base of 2.8 million, Megastudy is South Korea's fastest-growing tech company.
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