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Education Spending at New High

April 1, 2009

Koreans spent nearly 40 trillion won ($29.7 billion) on education last year, the Bank of Korea said yesterday.

According to the central bank, Koreans spent a record-breaking 38.88 trillion won on education last year, which equates to 2.39 million won per household. Private education spending refers to education-related spending other than tuition fees paid to kindergartens, schools and universities, such as hagwon and private tutors’ fees.

Last year’s education spending accounted for 7.5 percent of the total 534.5 trillion won Koreans spent last year.

Click Here for the Full Story (The Korean Herald  –  Please note that stories from this site are only publicly available for a short time, as stories are then archived in their Members only section)

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