Nearly half of South Korean preschoolers attend hagwon

Nearly half of South Korean preschoolers are now enrolled in private "cram" schools, known as hagwon, according to a new government survey. This marks a significant increase in private education spending, with families averaging Won332,000 ($228) monthly for preschool tuition. The survey reveals that 47.6% of children under six attend these for-profit centers, contributing to rising household debt and impacting domestic consumption. Total spending on private education reached a record Won29.2 trillion last year, despite a decline in student numbers. The intense academic competition is linked to South Korea's low fertility rate, which improved slightly to 0.75 in 2024. Parents feel pressured to invest in early education, fearing their children will fall behind, which may discourage larger families.