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In 2024, South Korean students' private education participation rate stood at ** percent, up from **** percent in the previous year. Despite the government's effort to strengthen the public education system, many elementary, middle, and high school students in South Korea still resort to private education. 

A distinct academic culture: The role of Hagwons

The emphasis on education in South Korean society has played a crucial role in the country's economic success. A highly educated and skilled workforce has been pivotal in encouraging innovation and fueling economic development. Furthermore, the influence of Confucian values, which emphasize the importance of lifelong learning, continues to significantly impact the lives of Koreans. To enhance their children's opportunities for enrolling in the most prestigious schools and universities within the highly competitive education system, many parents choose to enroll them in private academies known as Hagwons. At these institutions, students often spend more than seven hours per week, frequently studying late into the day.

The economics of the Hagwon system

Due to the competitive nature of education in the country, its education industry has continued to grow and has formed a substantial part of the nation’s gross domestic product (GDP). The sector thus provides numerous jobs and remains financially lucrative. Spending on private education tends to rise substantially in proportion to household income, giving affluent families an advantage. Consequently, South Korea’s declining fertility rate is often attributed to the considerable education costs for children, among other factors.