S. Koreans' spending on private education up 7 percent in 2008

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SEOUL, April 13 (Yonhap) -- South Koreans' spending on private education jumped
more than 7 percent in 2008 despite a protracted economic downturn, data showed
Monday.

According to the data released by the Bank of Korea, South Korean parents spent a
total of 18.72 trillion won (US$14 billion) on private education last year, up
7.6 percent from a year earlier.
Spending stood at an monthly average of 1.12 million won per household last year,
marking a three-fold jump compared with 2000, the data showed.
Spending on private education has been rising sharply since 2001 when it stood at
8.11 trillion won. In 2003, the figure exceeded the 10 trillion won mark before
growing to 12.86 trillion won and 13.75 trillion won in 2004 and 2005,
respectively. The spending rose to 15.65 trillion won in 2006.
The increase came despite a deepening economic downturn in the wake of the global
financial turmoil that began in September, highlighting South Korean parents'
enthusiasm for education.
Some parents even take on an extra job to pay for their children's private
institute fees. Dissatisfaction with the government's public education policies
also turns them to the private sector.
According to the National Statistical Office, high-income households spent much
more on private education.
Private education expenses by top 20 percent households in terms of income
amounted to a monthly average of 321,253 won last year, 6.9 times larger than by
the lowest 20 percent income bracket.
The ratio is up from the previous year's 5.9, underscoring the widening gap
between the rich and poor in education spending, data showed.
kokobj@yna.co.kr
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