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Table 7 also shows data on repeater rates in primary and secondary schools, primary school drop-out rate and school days. Based on these measures, Korea seems to maintain better quality of education: repetition rates and drop-out rate were substantially lower, and school term was longer in Korea than in the OECD or in developing countries. Thus,high quality of education in Korea can be thought of as an outcome of high quality of teachers, long school days and low repetition and drop-out rates, rather than of high public expenditures.Because the government has only been able to make small expenditures in education during the period, a substantial part of educational costs was financed by private sources. Table 8 shows educational expenditures by types and sources. Expenditures on education comprises in-school and out-of-school expenditures. In-school expenditures are the expense for the operation and construction of schools, and are financed by students, central and local governments and private foundations. Out-of-school expenditures are the educational expenses for textbooks, transportation and room and board, which are borne by students.14 According to these statistics, total expenditures for education were estimated at 146 billion won, or 8.8 percent of GNP, in 1968 and increased to 18,126 billion won, or 10.8 percent of GNP, in 1990. The substantial part of this education spending is financed by private sources: for the period from 1968 to 1990 more than 63 percent of total education expenditures were paid by students.
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