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.

   Last year, spending on college tuition accounted for 6.4 percent out of households' monthly consumer spending of 2.34 million won, compared with 4.4 percent registered in 2005, data showed.

   The data came as South Korea is facing rising inflationary pressure, sparked by rising oil prices and the sustained economic growth.

   The country's consumer prices rose 4.1 percent in May from a year ago, slightly down from 4.2 percent in April. But the country's inflation topped the upper ceiling of the central bank's 2-4 percent inflation target band for the fifth straight month in May.

   Recently, the issue of halving college tuition has earned keen interest from students and political parties since the new floor leader of the ruling party ignited a debate last month by vowing to implement a "half-priced college tuition" policy, one of President Lee Myung-bak's main campaign pledges.

   Thousands of students and civic groups rallied last week to demand the government take steps to slash the rising costs. But critics argue that if taxpayers' money is spent to cover tuition cuts, it will be unfair to those not receiving college educations.

Source: Yonhap News (June 12, 2011)