Korea’s private education spending drops in 2012

Spending on private education dropped for a third straight year here in 2012 due mainly to an increase in elementary students participating in government-run after-school programs, a report showed Wednesday. According to data compiled by Statistics Korea and obtained by the education ministry, South Korean parents spent 19 trillion won (US$17.47 billion) last year on private education for their children, down 5.4 percent from a year earlier.

Private education spending was at its highest in 2009 at 21 trillion won and has since been decreasing, according to the data. The agency started to compile related data in 2007. Spending on private education per student averaged 236,000 won a month in 2012, down from 242,000 won in 2009 and 240,000 won in 2011, the data showed.

For full article see Yonhap News.

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