Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Contentious grain bill put directly to plenary meeting for vote

    Contentious grain bill put directly to plenary meeting for vote
  2. 2

    Yoon's approval rating plunges to all-time low

    Yoon's approval rating plunges to all-time low
  3. 3

    Will tug-of-war between doctors, government end soon?

    Will tug-of-war between doctors, government end soon?
  4. 4

    Climate impacts set to cut 2050 global GDP by nearly a fifth

    Climate impacts set to cut 2050 global GDP by nearly a fifth
  5. 5

    Trilateral talks acknowledge ‘serious’ slumps of won, yen

    Trilateral talks acknowledge ‘serious’ slumps of won, yen
  1. 6

    [Graphic News] More Koreans say they plan long-distance trips this year

    [Graphic News] More Koreans say they plan long-distance trips this year
  2. 7

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
  3. 8

    North Korea removes streetlights along cross-border roads with South

    North Korea removes streetlights along cross-border roads with South
  4. 9

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
  5. 10

    Farming households dip below 1m for first time in 2023

    Farming households dip below 1m for first time in 2023
지나쌤

Households spend nearly 7% of their monthly income on education

By KH디지털2

Published : March 8, 2017 - 17:19

    • Link copied

South Korean households spend nearly 7 percent of their monthly income on education, a survey showed Wednesday, a sign that underscores the education zeal in Asia's fourth-largest economy.

The average monthly income of South Korean households came to 4.68 million won ($4,000) as of late last year. Of the total, 310,000 won was set aside for education, accounting for 6.6 percent of the the income, according to the survey conducted by Shinhan Bank, the country's fourth-largest lender by assets.

Students studying at school (Yonhap) Students studying at school (Yonhap)

The bank carried out the survey on 10,000 of its employees between 20 and 64 years of age in the country from Nov. 10 and 22.

Education spending went up for people in their 40s as they spent money on their young children.

The survey showed that people in their 40s spend 550,000 won on education, accounting for 12 percent of their monthly income.

South Koreans' education fervor helped transform the country into one of Asia's richest countries from the ashes of the 1950-53 Korean War.

Former US President Barack Obama frequently lauded South Korea's education-related drive.

Some say education was the key to South Korea becoming the first former aid recipient to join the ranks of official donors in a half-century.

Still, critics argue South Korea's education system relies on simple memorization and rote learning, and does not give due attention to critical thinking. (Yonhap)

More from Headlines