Korean Education Spending Far Higher Than in the West

      October 19, 2009 09:09

      The proportion of education costs to household spending in Korea is three to nine times higher than in advanced nations, a report released by the Bank of Korea on Sunday shows.

      That often means cutting down on welfare or recreation.

      The central bank said the ratio of education spending to total household consumption stood at 7.4 percent in the first half of this year, up 2 percentage points from 2000 and up 0.1 point from 2008.

      That is three to nine times higher than in major advanced countries, such as the U.S. (2.6 percent), Japan (2.2 percent), the U.K. (1.4 percent), France (0.8 percent), and Germany (0.8 percent).

      The increase in private education spending significantly pushed up the ratio. Public education spending increased by a mere 0.3 percentage point from 3.5 percent in 2000 to 3.8 percent in the first half of this year, while that of other education spending including private education costs rose from 1.9 percent to 3.6 percent in the same period.

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