It was found that multi-child households with two or more unmarried children spend at least 600,000 won a month on private education. That accounts for about 13% of average monthly living costs and is the second-largest share after food.
According to the Korean Statistical Information Service (KOSIS) on the 4th, the average monthly private education spending by multi-child households in the third quarter of last year was 611,000 won. Private education spending accounted for 12.6% of the household's average monthly consumption expenditure (4,858,000 won). Student academy education expenses include supplementary and preparatory learning costs for not only elementary, middle and high school students but also infants, toddlers and so-called "repeat takers" such as retakers.
By annual share, it fell from 11.5% in 2019 to 9.2% in 2020 due to COVID-19, then steadily rose to 11.2% in 2021, 12.5% in 2022, 12.6% in 2023 and 12.8% in 2024. In the first quarter of last year it was 13.0% and in the second quarter 13.5%, setting a record high on a quarterly basis and making it highly likely to hit the highest level on an annual basis as well.
By expenditure item, as of the third quarter of last year, private education spending was the third largest after dining out (700,000 won) and grocery expenses (688,000 won). Its expenditure scale was larger than housing and heating (437,000 won) and far exceeded clothing and shoes (195,000 won) by three times.
The size of private education expenditure itself is also rising quickly. Average monthly private education spending fell from 427,000 won in 2019 to 340,000 won in 2020, then turned upward and nearly doubled to 1.8 times in five years. On a quarterly basis since 2020, the overall upward trend continued except for a slight decline once in the third quarter of 2024 (-0.7%). In particular, in 2021 and 2022, it rose sharply with double-digit growth rates due to base effects after COVID-19 and other factors.
A Ministry of Education survey also confirms the burden of private education costs. The average monthly private education spending for elementary school students last year was 504,000 won, 628,000 won for middle school students and 772,000 won for high school students, with all rising 4% to 9% from a year earlier despite a decline in the school-age population. In addition, private education prices last year rose 2.2% from a year earlier, outpacing the consumer price inflation rate (2.1%) for the first time in five years, further increasing the burden on households.