South Korea spent 19 trillion won (US$17.4 billion) on extra classes for their children last year, seeking any edge in the hugely competitive race for a coveted college place.

The 2012 figure, published by the education ministry on Wednesday, includes cost for after-hour cram schools, private tutoring or online courses, and was equivalent to about 1.5 percent of the country's gross domestic product.

About 70 per cent of students in elementary, middle and high schools are privately tutored in subjects like mathematics or English, with annual spending for each student standing at an average $2,600, the ministry said. Reports Channel News Asia