Koreans spend more than 20 billion USD on private education

According to Yonhap news agency, data released by Statistics Korea on March 14 showed that private education spending for students in the country in 2023 was at a record high, despite a decrease in the number of students.

A classroom in South Korea. Photo: VNA

Last year, total spending on private after-school classes for elementary, middle and high school students totaled 27.1 trillion won ($20.6 billion), a record high, up 4.5 percent from the previous year, according to the agency. Including students enrolled in private education programs, monthly spending reached 553,000 won ($419.59), up 5.5 percent from 2022.

Spending on private education increased sharply despite the total number of students in South Korea falling 1.3% from a year earlier to 5.21 million in 2023. In addition, the proportion of students enrolled in private education programs, such as cram schools, also rose 0.2% to 78.5%. For elementary school students, the ratio was 86%; for middle and high school students, the ratios were 75.4% and 66.4%, respectively. These students spent an average of 7.3 hours on private education programs per week.

In South Korea, studying at a prestigious university is the key to success in a highly competitive society. However, the burden of private education costs is blamed for the country's extremely low birth rate. The South Korean government has taken a number of measures to curb the rise in costs, including pledging to increase oversight of private education institutions.

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Source: https://www.sggp.org.vn/nguoi-han-chi-hon-20-ty-usd-cho-giao-duc-tu-nhan-post730763.html