FastCampus Announces 2020 Achievements and Trends in Adult Education Content
February 1, 2021 – FastCampus, a leading South Korean adult education startup (CEO Kangmin Lee), announced on the 1st that it reached 480,000 cumulative users and achieved annual revenue of 42 billion KRW in 2020.
FastCampus began in 2014 by offering part-time offline education programs for working professionals. By 2020, it expanded its content library with 357 cumulative online courses, transitioning its offline content to online and corporate education.
As a result, FastCampus’ annual revenue grew from 26 billion KRW in 2019 to 42 billion KRW in 2020. The company also secured the largest customer base in the industry, with 480,000 adult learners. To support this growth, FastCampus invested heavily in content creation, increasing its technology workforce by 3.13 times and content production spending by 1.91 times compared to the previous year.
The most popular fields in 2020 were data science, programming, creative fields (such as video production), digital marketing, and finance. Other areas, including foreign language education through MyLight and vocational training in cooking and beauty via the Coloso brand, also gained high traction.
Users cited personal development, job transitions, and career changes as key reasons for using FastCampus. The platform catered to self-employed individuals, freelancers, and small business owners who sought digital skills to transition to online business models during the pandemic. Additionally, office workers in tech-vulnerable careers turned to data and programming skills to future-proof their careers.
Significant growth was also observed in the corporate education sector, with a 124% increase in inquiries and a 146% rise in revenue compared to the previous year. Companies like LG Electronics, E-Mart, KT, and Hana Financial IT showed a strong preference for courses in data science, programming, and machine learning, which are crucial for corporate digital transformation.
Kangmin Lee, CEO of FastCampus, stated, “Last year was a milestone for FastCampus in terms of both quantitative and qualitative growth, marked by overseas expansion and ventures into new areas such as eSports online lessons. In 2021, we will continue striving to offer the best educational content for adults seeking growth and transformation.”
FastCampus remains a leader in the adult education market, offering comprehensive educational content covering practical skills in digital fields such as marketing, design, and finance, vocational training for self-employed individuals through the Coloso brand, and foreign language courses in English, Chinese, Japanese, French, and Spanish. The platform caters to virtually every adult learner’s needs beyond university graduation.
