{"id":2200334,"date":"2023-03-08T08:00:16","date_gmt":"2023-03-07T23:00:16","guid":{"rendered":"https:\/\/koreapro.org\/?p=2200334"},"modified":"2023-04-05T16:08:02","modified_gmt":"2023-04-05T07:08:02","slug":"spending-on-private-education-rises-by-10-8-in-2022","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2023\/03\/spending-on-private-education-rises-by-10-8-in-2022\/","title":{"rendered":"Spending on private education rises by 10.8% in 2022"},"content":{"rendered":"<p><a href=\"https:\/\/kostat.go.kr\/board.es?mid=a10301010000&amp;bid=245&amp;list_no=424071&amp;act=view&amp;mainXml=Y\"><span style=\"font-weight: 400;\">Data<\/span><\/a><span style=\"font-weight: 400;\"> compiled by Statistics Korea \u2014 a department under the ROK\u2019s Ministry of Economy and Finance responsible for the collection of statistics \u2014 showed that spending on private education for South Korean students shot up 10.8% on-year in 2022. Total spending on private education for primary, middle, and high school students amounted to about $20 billion (26 trillion won) in 2022. The total spending on private education increased despite a consistent <\/span><a href=\"https:\/\/kostat.go.kr\/board.es?mid=a10301010000&amp;bid=204&amp;act=view&amp;list_no=423833&amp;tag=&amp;nPage=2&amp;ref_bid=203,204,205,206,207,210,211,11109,11113,11814,213,215,214,11860,11695,216,218,219,220,10820,11815,11895,11816,208,245,222,223,225,226,227,228,229,230,11321,232,233,234,12029,10920,11469,11470,11817,236,237,11471,238,240,241,11865,243,244,11893,11898,12031,11825,246&amp;keyField=T&amp;keyWord=&amp;bodo_b_type=all\"><span style=\"font-weight: 400;\">decline<\/span><\/a><span style=\"font-weight: 400;\"> in the country\u2019s birth rate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">About 78.3% of South Korean students received private education in 2022. Parents and students spent the most money on private English classes, followed by math and Korean. Elementary school students spent on average more than seven hours in private academies, while high school students spent more than six hours.<\/span><\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The rise in the cost of private education is noteworthy. South Korea\u2019s inflation rate last year was the highest it had been in 24 years \u2014 <\/span><a href=\"https:\/\/koreajoongangdaily.joins.com\/2022\/12\/30\/business\/economy\/Consumer-price-Inflation-2022-Statistics-Korea\/20221230141104139.html\"><span style=\"font-weight: 400;\">5.1%<\/span><\/a><span style=\"font-weight: 400;\">. This means that private education was more than double the national average inflation rate. The significant rise in the cost of private education could lead to some type of government response.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The most likely cause for the rise in private education costs is the COVID-19 pandemic. As after-school programs focusing on art classes or extracurricular sports activities have not recovered from the pandemic, many parents with young children are likely sending their children to private academies instead of after-school childcare services. Another likely cause is the prevalence of remote learning during infection spikes caused parents to worry about their children learning less, propelling many parents to enroll their children in private academies.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/culture-society\/\"><span class=\"tag\">Culture &amp; Society<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>Data compiled by Statistics Korea \u2014 a department under the ROK\u2019s Ministry of Economy and Finance responsible for the collection of statistics \u2014 showed that spending on private education for South Korean students shot up 10.8% on-year in 2022. Total spending on private education for primary, middle, and high school students amounted to about $20 [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2200335,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,25],"class_list":["post-2200334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-culture-society"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Spending on private education rises by 10.8% in 2022 - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2023\/03\/spending-on-private-education-rises-by-10-8-in-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spending on private education rises by 10.8% in 2022 - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"Data compiled by Statistics Korea \u2014 a department under the ROK\u2019s Ministry of Economy and Finance responsible for the collection of statistics \u2014 showed that spending on private education for South Korean students shot up 10.8% on-year in 2022. 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