SEOUL, Apr. 5 (Korea Bizwire) — South Koreans estimate the value of child rearing at 2.35 million won (US$2,208.64) a month, a sum that is close to the country’s median income, a report said Thursday.
The Korea Institute of Child Care and Education, which released the report based on surveys, found that 84 percent of South Koreans see raising children as a burden economically, as well as physically and psychologically demanding.
People were told beforehand that the average monthly income was 3.29 million won, and the median monthly salary was 2.41 million won. With the information, people surveyed gave child rearing a monetary value of 2.35 million won per month, the report said.
It said the sum indicates that people attach importance to the raising of kids.
In the surveys, 41.6 percent said some form of private education was necessary to raise the children well, compared with 48.9 percent who disagreed.
Asked whether parents can physically punish children for their wrongdoings, 73.3 percent agreed that firm action can be taken. Specifically, 54.8 percent said children have to obey their parents, and 53.8 percent answered children should be raised in a strict manner when they are young.
The latest findings showed 83.9 percent of the people saw child rearing as an economic burden. The physical burden was cited by 78.1 percent of the respondents and psychological burden by 66.2 percent.