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Statistics Show Children’s Education Taking Away Bulk of Disposable Income

Statistics Show Children’s Education Taking Away Bulk of Disposable Income

SEOUL, Jan. 12 (Korea Bizwire) – The cost of private education for children is heavily eroding what little is left of spendable family income, a challenge to government effort to revive the economy through consumption, statistics indicated Thursday.  Official numbers from Statistics Korea said a city-dwelling family of two people or more on average spent [...]

Gov’t Cracks down on Hundreds of Cram Schools Illegally Operating in Seoul

Gov’t Cracks down on Hundreds of Cram Schools Illegally Operating in Seoul

SEOUL, Aug. 23 (Korea Bizwire) – South Korea’s government on Tuesday said it has imposed administrative penalties on some hundreds of private education institutes illegally operating in the affluent southern part of Seoul this year.  The Seoul Gangnam Seocho District Office of Education said a total of 259 cram schools were fined or received other [...]

Educational Expenditures Most Sensitive to Changes in Income

Educational Expenditures Most Sensitive to Changes in Income

SEOUL, Aug. 16 (Korea Bizwire) – Among many things, Korean parents are well-recognized for their passion for educating their children. But a recent KIET (Korea Institute for Industrial Economics & Trade) report revealed that education expenditures are more sensitive to changes in income compared to other areas of household spending.  The report showed that spending [...]

Private Education among Students Keeps Declining

Private Education among Students Keeps Declining

SEOUL, Korea, Feb 28 (Korea Bizwire) – Parents’ burden in the cost of out-of-school private lessons keeps declining since 2009, although the diminishing amount is small, according to a government statistics.  Statistics Korea announced on February 27 that the cost of private education spent in Korea last year totaled 18.6 trillion won ($17.4 billion), a [...]