South Koreans Spend Record Sum on Education; Increase due in part to private teaching including English-language learning

[Harold Schiffman]

South Koreans Spend Record Sum on Education
Increase due in part to private teaching including English-language learning

By . Agence France-Presse
March 31, 2009


»South Koreans spent nearly $30 billion on education in 2008, more
than in any previous year, despite the deepening economic downturn,
official figures showed on March 29. The increase, due largely to a
rise in spending on private teaching including English-language
learning, indicated South Koreans were reluctant to cut back on
education despite a dramatic economic slowdown. Household spending on
education reached an all-time high of 39.8 trillion won (US$9.5
billion) in 2008, up 7.7% from a year earlier, the Yonhap news agency
said, citing Bank of Korea figures.

The global financial crisis has dampened consumer spending in South
Korea and fueled a rise in unemployment. The country's per-capita
gross national income fell to $19,231 last year from $21,695 in 2007.

Copyright Agence France-Presse, 2009

http://www.industryweek.com/articles/south_koreans_spend_record_sum_on_education_18812.aspx


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