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Education Spending in Korea Pinching Economy

October 22, 2009

Korean spending on education has been proved nearly recession-proof, considering the local parents’ decades-long love affair with sending their kids to good colleges at whatever cost.

But now such unlimited spending for after-school classes, school textbooks, tuition for private cram schools, tutoring and prestigious foreign schools may be dragging down a much-needed economic revival here, Korea’s central bank says.

Click Here for the Full Story (Source: JoongAng Daily)

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