Mega Study is completely withdrawing from the civil service exam academy market. This decision comes approximately four years after entering the market.
On the 13th, Mega Study Education announced, "To improve the financial structure and management efficiency due to continued operating losses in the civil service business, we have decided to transfer the civil service business to another company."
Mega Study Education, which fully entered the civil service exam market in 2020, attempted to expand by acquiring Gongdanggi, the number one company in 2022. However, it failed due to concerns from the Fair Trade Commission regarding 'restriction of competition.'
Meanwhile, the deficit in the civil service business sector worsened. It is identified that Mega Study Education's civil service business sector has posted operating losses each year, with accumulated operating losses over the past four years exceeding 60 billion won.
A representative from Mega Study Education said, "The civil service business sector, being the only sector with operating losses among all business sectors, will be transferred to minimize risks and improve profitability."
Meanwhile, Mega Study Education is transferring the entire civil service business sector to Next Study. The transfer price is 11.4 billion won, and the transfer is scheduled for the 31st of this month.