Startups seek to mitigate drop in local university enrollment

[Photo by MK DB]

Korean startups are collaborating with local universities to counteract a fall in enrollment, offering innovative support amid demographic challenges.

Databank Inc. operates artificial intelligence (AI) mock test platform TestGlider, and recently stepped in to provide support for local universities facing an enrollment crisis due to the declining population. Databank has approximately 650,000 members on its platform and is used not just by Korean students but students from over 200 countries, including India, China, and Vietnam, as well.

The company refines the data that it collects from its members and collaborates with local universities, providing information to foreign students interested in studying in Korea and to local universities looking to attract international students. Databank Chief Executive Officer Song Da-hoon explained to Maeil Business Newspaper on Thursday that small local universities find it difficult to attract international students due to a lack of information. “Based on our membership of global students from 200 countries who are willing to study overseas, we are collaborating with local universities to increase the number of international students studying in the country,” Song said.

Accommodation reservation platform ONDA Inc. is helping international students find accommodations. Currently, ONDA supplies over 40,000 options to other travel platforms including Yanolja Co., GC Company Corp., and Naver Corp. ONDA also directly operates residential lodging facilities via its subsidiary Onda Management and Whatsong. “For an international student to find a monthly rent deal in Korea, there is the burden of a deposit or a risk of fraud. We offer affordable stay options near local universities as we sign up with these stay facilities adjacent to those universities,” an ONDA official said, explaining that attracting international students could be a win-win situation for both local lodging facilities and universities amid Korea’s demographic challenges.

Founded in 2020, Kowork Withus Co. has a platform specializing in foreigner-specific recruitment, job searces, and visa information. Its application, Kowork, offers various foreigner job postings by region and job type, providing translation services for job postings in both Korean and English to remove the language barriers between foreigners and companies as much as possible. The company also runs Korean language education and internship programs. “Foreign students looking for stable employment and visa issuance can proceed simultaneously via our service,” CEO Kim Jin-young said, unveiling the company’s aim to grow into a trusted platform for foreigners aspiring to work in Korea.