Percentage of education costs in S. Korean households' spending hit a record high in Q1

The percentage of education costs out of South Korean households' spending hit a record high in the first quarter of the year due to an increase in private education costs, a government report showed Wednesday.

In the January-March period, education costs amounted to 310,000 won (US327.83) out of the households' average monthly spending, or 14.1 percent of the entire 2.2 million won, the National Statistical Office said.

The percentage is the highest since 2003, when the office started to compile related data. It stood at 12.7 percent in 2003 and 13.8 percent in 2004, the report said.

During the reported period, the monthly average household spending increased 3.9 percent from a year earlier, costs of education grew 9.9 percent with those of private education up 15.9 percent, it said.

Seoul 31, May (Yonhap)