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New Data: S. Korea Most Expensive Place to Raise Child

Written: 2022-04-11 10:52:23Updated: 2022-04-11 16:33:40

New Data: S. Korea Most Expensive Place to Raise Child

Photo : YONHAP News

New data finds that South Korea and China are the most expensive countries in which to raise a child.

CNN released such an assessment on Saturday based on research from Jefferies Financial Group, which used data from Yuwa Population Research.

According to the firm, South Korea was the most expensive country in which to raise a child from birth to age 18, measured as a percentage of per capita gross domestic product.

China came in second followed by Italy.

The U.S. came in the middle of the top 14 most expensive places, between Germany and Japan.

As for reasons why it’s pricey to raise kids in the Far East, the agency cited the cost of education and the cost and availability of care when the child is in their younger years.

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