Rising Tuition Fees in Kindergartens to Strengthen South Korea Pre-Primary Education and Childcare Market: Ken Research
South Korea’s education industry lies amongst the highly developed and most competitive industries in the world. A high academic orientation has henceforth promoted the growth of the pre-primary sector since very long. This is best exemplified by extremely high gross enrollment rates in pre-primary education which was ~% in 2012. The steps taken by the government has played a huge role in spreading the awareness about the importance of early education and care amongst the people. The compulsory preparatory year programme for the five year olds is such an example.
The childcare market of South Korea primarily caters to the children under six and holds a dominant share in the industry. The childcare market is a strongly emerging market in South Korea, instigated by the growing number of women workers. Additionally, the declining birth rates in the country have encouraged greater spending on the single child, ensuing in growing preference towards privately run facilities. The competitive landscape of the childcare market is thus led by private institutions which accounted for a ~% share in the market in 2012. The competition is quite fierce with players adopting for a wide range of services to attract a greater number of enrollments. These include 24-hours care, night-time care, extended hours service etc. delivered through a variety of settings including home-based, workplace care and others.
The pre-primary market in South Korea has witnessed a slow increase in the number of the institutions and enrollments over the years, affected by the increasing preference towards childcare centers. However, the revenues of the industry have witnessed an astounding growth in the span of 2006-2012 as a result of the increasing tuition fees charged by the private kindergartens which are although less than public kindergartens in number, account for a far greater number of admissions. The pre-primary education market does not showcase presence of any dominant player, in spite of
The childcare market of South Korea primarily caters to the children under six and holds a dominant share in the industry. The childcare market is a strongly emerging market in South Korea, instigated by the growing number of women workers. Additionally, the declining birth rates in the country have encouraged greater spending on the single child, ensuing in growing preference towards privately run facilities. The competitive landscape of the childcare market is thus led by private institutions which accounted for a ~% share in the market in 2012. The competition is quite fierce with players adopting for a wide range of services to attract a greater number of enrollments. These include 24-hours care, night-time care, extended hours service etc. delivered through a variety of settings including home-based, workplace care and others.
The pre-primary market in South Korea has witnessed a slow increase in the number of the institutions and enrollments over the years, affected by the increasing preference towards childcare centers. However, the revenues of the industry have witnessed an astounding growth in the span of 2006-2012 as a result of the increasing tuition fees charged by the private kindergartens which are although less than public kindergartens in number, account for a far greater number of admissions. The pre-primary education market does not showcase presence of any dominant player, in spite of