Survey: Child-Rearing Costs Increase in South Korea
(MENAFN) The cost of raising children in South Korea increased in 2024, according to findings released Tuesday by the Ministry of Education.
Families spent an average of 1,116,000 won ($801 USD) per month per household on expenses related to raising children, including childcare, education, food, and clothing. This marks a rise of 140,000 won ($101) compared to 2021 levels.
Despite the increase in spending, the share of childcare costs relative to household income dropped to 17.8 percent in 2024, down from 19.3 percent in 2021.
The data was compiled from a survey conducted between August and December last year, involving 2,494 households and 3,058 daycare centers. The ministry has been running this triennial survey since 2004.
The surveyed families included 3,007 infants and toddlers in 2024. Employment rates among parents were 97.0 percent for fathers and 64.2 percent for mothers.
Of the households surveyed, 55.3 percent enrolled their children in daycare centers, while 26.5 percent opted for kindergartens.
Children attending daycare spent an average of 7 hours and 31 minutes there daily, compared to 7 hours and 20 minutes at kindergartens.
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