S.Korean education stocks fall as govt plans to curb private sector spending

Multicampus

26/06/2023 02:18

** Shares of South Korean education-linked companies fall
ahead of the government's likely announcement of measures to
curb the private sector 
    ** Woongjin Thinkbig  095720.KS  falls more than 2% to near
five-month lows, while Multicampus  067280.KQ , MegaStudyEdu
 215200.KQ  and YBM Net  057030.KQ  lose about 1% each
     ** South Korea's Ministry of Education has said it will
announce policy measures on Monday to curb private education
spending, which is known to burden parents with notoriously high
costs 
    ** The country's educational spending per child jumped 11%
last year, compared with the annual average inflation rate of
5.1% - Statistics Korea
    ** A few public-sector education stocks are up, with Visang
Education  100220.KS  climbing more than 2% and NE Neungyule
 053290.KQ  rising over 3%
    ** The benchmark KOSPI and junior KOSDAQ indexes edge up
0.1% each, as of 0038 GMT  
    

 (Reporting by Jihoon Lee)
 ((jihoon.lee@thomsonreuters.com))