South Korea’s private schooling costs rose to a new record and the number of students using them shattered the previous all-time high, highlighting the financial pressure and intense demand for education that’s helped drive the world’s lowest fertility rate.
Monthly spending on additional private schooling, or “hagwons,” climbed to 410,000 won ($315) on average for each student last year, up 11.8% from 2021, the statistics office said Thursday. The highest-earning households spent 648,000 won on them, about five times more than the lowest-earning ones.
Source : Record-high education costs in Korea negatively impact fertility