Pohang University of Science and Technology spent the most on educational expenses per student. POSTECH received W5.02 million (US$1=W1,143) in tuition fees from each student on annual average, but spent W73.74 million, more than 14 times the tuition fee, in educational expenses for students.
This is the result of analysis of 113 four-year private universities with more than 2,000 students in the evaluation of educational investment for 2006 of a total of 188 nationwide private universities. The data was submitted by the Korea Foundation for the Promotion of Private Schools to Grand National Party lawmaker Chung Doo-un, a member of the National Assembly's Education, Science and Technology Committee.
POSTECH continues to top universities in the ratio of educational expenses to tuition per student with 1,146 percent in 2003, 1,246 percent in 2004, and 1,253 percent in 2005. Six other universities (5.3%) -- Korea University of Technology and Education, Yonsei University, Sungkyunkwan University, Hallym University, and Inje University -- spent more than double the amount of tuition fees on students. But 23 universities (20.3%) spent less on students than tuition fees.
POSTECH also topped the list in the per-student scholarship amount with W5.79 million in 2006, as in the previous fiscal year (W3.36 million). It was followed by Tongmyong University (W3.38 million), Gwangju University (W2.25 million) and Yonsei University (W2.11 million).
Rep. Chung said, "We have to open as much information on university management as possible to help education consumers make the right decisions. Private schools should try to enhance their competitiveness."