Education policy in South Korea : a contemporary model of human capital accumulation?

Date
2017
Authors
Hultberg, Patrik
Calonge, David Santandreu
Kim, Seong-Hee
Journal Title
Journal ISSN
Volume Title
Publisher
Cogent OA
Abstract
We argue that South Korean families with children are today overinvesting in the level of education due to their high levels of expenditures on private after-school tutoring programs. This situation has evolved due to a combination of factors: a changing labor market, increasing housing and debt payments, as well as an educational “arms race” among Korean families with children. These changes are exacerbating both economic and social issues in Korean society, but are increasingly difficult to address due to issues of complementarity and coordination failures related to educational expenditures. Korea might be inexorably falling into a surprising “education trap.”. © 2017 The Author(s).
Description
This article is not available at CUD collection. The version of scholarly record of this Article is published in Cogent Economics and Finance (2017), available online at: https://doi.org/10.1080/23322039.2017.1389804.
Keywords
Education policy, Educational expenditures, Human capital, Private tutoring, South Korea
Citation
Hultberg, P., Calonge, D. S., & Kim, S.-H. (2017). Education policy in South Korea: A contemporary model of human capital accumulation? Cogent Economics and Finance, 5(1). https://doi.org/10.1080/23322039.2017.1389804