South Korea's private education spending to hit record high in 2024

South Korean household spending on privateeducation hit an all-time high in 2024, despite a declining population and government reform efforts.

According to data released by Statistics Korea and the Ministry of Education, the total amount spent on after-school tutoring for elementary, middle and high school students will reach 29.2 trillion won (US$20.07 billion) in 2024. This is the fourth consecutive year that South Korea has set a record for spending on private education.

Previously, this figure decreased in 2020 due to the impact of the COVID-19 pandemic. However, from 2021, this cost increased again, reaching 23.4 trillion won, then continued to escalate to 26 trillion won in 2022 and 27.1 trillion won in 2023. Compared to 2023, total spending on private education in 2024 increased by 7.7%, although the number of students in these levels decreased by 1.5%, from 5.21 million to 5.13 million.

South Korean household spending on private education hit an all-time high in 2024, despite a declining population and government reform efforts. IG.

The rate of students taking private tutoring classes hit a record high, with 80% of South Korean students taking private tutoring in 2024, up 1.5 percentage points from the previous year. Notably, the rate was 87.7% for elementary school students, while the participation rates for middle and high school students were 78% and 67.3%, respectively.

According to an official from Statistics Korea, the increasingly fierce competition in society has made parents willing to spend more to prepare their children for the future. On average, each student has to spend 474,000 won per month on extra classes, up 9.3% compared to 2023. If only counting students who actually attend private classes, the average spending is up to 592,000 won per month, up 7.2% compared to the previous year.

The data also showed that household income levels have a significant impact on private education spending. Households with an average monthly income of over 8 million won spend about 676,000 won per month per child, while those with incomes below 3 million won can only afford to spend about 205,000 won on private education.

Private education trend expands to preschool children

Not only students in the general education system, but also preschoolers are under pressure from the growing trend of private education. According to a survey by the Korean Ministry of Education, among 13,241 households with children aged 6 and under, 47.6% of parents spent money on private education programs in 2024.

The rates vary by child age: 24.6 percent of children aged 2 and under, 50.3 percent of children aged 3 and over, and 81.2 percent of children aged 5 and over attend after-school classes. On average, parents spend more than 300,000 won per month for each child in this age group. In particular, the cost of classes at "English kindergartens" - essentially private training centers specializing in English teaching - is up to 1.54 million won per month.

Kim Ji-ae, a parent of two young children, expressed concern about the excessive competition in the current education system, which she said puts a lot of pressure on both parents and children. "I can't believe that competition has become so fierce amid a declining population," she said.

The South Korean Ministry of Education said that uncertainty over college admissions policies, including changes to medical school admission quotas and plans to reform the college entrance exam in 2028, has caused many parents to worry and increase their investment in private education for their children. A ministry official said the government is working to improve the education environment, including removing “killer questions” from college entrance exams and adjusting the content of the exam to better match the regular curriculum.

“We will conduct a thorough analysis of the reasons for the increase in private education spending,” the official said. However, with increasing pressures on the education system and the labor market, many experts believe that this trend is unlikely to change in the near future.

Source: https://danviet.vn/private-education-spending-in-han-quoc-lap-ky-luc-trong-nam-2024-20250314112159589.htm