Connect with us

Hi, what are you looking for?

Economy

South Korea unveils plans to curb soaring private education spending

SEOUL — South Korea’s government unveiled plans on Monday aimed at curbing the country’s burgeoning spending on private education, which has been blamed for being a major factor behind the country’s declining fertility rate.

The move comes as President Yoon Suk Yeol this month criticized college entrance tests that incorporate questions not in the curriculum at public schools, including some that have been dubbed “killer questions” due to their complexity.

“We will cut the vicious cycle of killer questions in exams which leads to excessive competition among students and parents in private education,” education minister Lee Ju-ho told a briefing.

The ministry also vowed to crack down on private education “cartels” by ramping up efforts to monitor what it termed false and exaggerated advertising.

South Koreans spent a record 26 trillion won ($19.97 billion) on private education last year, despite a declining student population, a joint report by the education ministry and the government statistics bureau showed.

Nearly eight in 10 students take part in private education such as cram schools, known as hagwons, according to the report.

This heavy reliance on private education has helped result in South Korea having the world’s highest cost of raising a child, according to a report last year, and the world’s lowest birth rate. — Reuters

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Investing

The government’s borrowing bill was lower than expected last month as falling inflation and bumper tax revenues helped improve public finances. Figures from the...

Investing

Watford is to become the unlikely new home for Batman and Superman after Warner Bros confirmed that it is to go ahead with a...

Economy

The First Atkins Group continues its commitment to promoting food sufficiency as it unveils plans for its 8th cold storage facility. First Atkins Holdings...

Investing

The Prompt Payment Code (PPC) was introduced to the UK in December 2008 as a voluntary code of practice, administered by the Office of...

Economy

The Food and Drug Administration (FDA) has approved a vaccine for the prevention of shingles, a viral infection caused by the same virus that...

Economy

The Philippine tourism industry saw a substantial 75% increase in carbon dioxide (CO2) emissions from petroleum and electricity usage in 2022, coinciding with the...

You May Also Like

Top News

As the world seeks sustainable and energy-efficient solutions for heating and cooling, the heat pump market is experiencing a significant surge. According to the...

Investing

The Toto site’s user-friendly interface makes it easy for both beginners and experienced gamblers to navigate through the various features. “¸ÔÆ¢Æú¸®½º site is a...

Investing

Almost 100 jobs are thought to be under threat at smart home energy technology manufacturer myenergi. The Grimsby firm, named one of the UK’s...

Investing

The number of small businesses planning to increase prices to their customers is set to rise dramatically this quarter, further fuelling inflationary pressures. A new quarterly analysis of...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.