Household spending on college tuition rises sharply

South Korean household spending on college tuition rose 76.8 percent in 2010 compared to five years ago, data showed Sunday, indicating that rising education costs are feared to crimp household spending and spark inflation. Households whose breadwinners are in their 50s spent a monthly average of 148,522 won (US$137.14) to cover costs for university and graduate school education in 2010, up from 84,001 won per month tallied in 2005, according to data compiled by the state-run Korea Statistics. College tuition reached an average of 8 million won to 10 million won per year.