The average household spending on private education has risen 12.5 percent annually over the two decades since 1990, a report showed Sunday.

According to the Korea Educational Development Institute report, the cost of private education per household rose from 17,652 won in 1990 to 187,396 won ($165) in 2010. That translates into an average 12.5 percent rise a year.

Private education spending rose steadily until 1998 when it dropped after South Korea was hit hard by the Asian financial crisis. Spending rose sharply again in 2000 through 2008 but began to fall again since then, according to the report.

Per household spending on private education in the first quarter of this year is forecast to amount to 195,679 won. (Yonhap)