New Online Education Company Invests P100-Million in RP Subsidiary

Article excerpt

Avalon English+, one of the top English school institutions in South Korea, recently made an initial investment of P100 million to set up its local subsidiary in the Philippines, Ubiquitous English Network of Avalon International, Inc. (U-ENAI, Inc.), an online education company teaching English using breakthrough technology.It is expected to exceed its initial investment when it completes by end of 2010 its international high school in the country with a projected capital of US$3.5 million or roughly P170 million.Other business ventures in support of its education services include International Education Program to the US, Canada, United Kingdom and Australia in addition to Emersion English Camps in countries around the world.U-ENAI, Inc. is registered with the Philippine Economic Zone Authority (PEZA) as IT based e-learning education company. The company was also duly registered with the Securities and Exchange Commission in 2008 and is wholly owned by Avalon English+, one of the largest educational companies in South Korea in the last ten years. This makes U-ENAI, Inc. one of the most stable companies in the country today.Its move to the Philippines is its modest response to continuous efforts of the Philippine government in encouraging foreign investments and providing new job opportunities to its highly competent Knowledge Based Filipino workforce.“U-ENAI believes that the Philippines is the core stronghold for its expansion to the global market. Its highly competent English teachers and technically skilled workforce, favorable economic environment and business-friendly government policies have been the cornerstones of our decision to make the Philippines our global base. This will help us aggressively pursue our vision of becoming the leading company in providing home school education to native English speakers as well as English as a Second Language (ESL) to non-native English speakers through breakthrough E-Learning programs using state-of-the-art systems to every household and learning institution around the world,” says its CEO Richard Hong who has extensive professional experience both in marketing and e-learning systems. …