February 06, 2023 13:34
Nearly half of Korea's universities plan to hike tuition fees this year or the next, a poll of university presidents by the Korean Council for University Education finds.
Of 114 respondents, eleven said a hike is likely in the first or second semester this year and 45 said next year. A mere 14 said no and the rest said they will follow government guidelines.
Universities have the right to raise tuition fees by up to 1.5 times the average price increase rate in the previous three years.
But the Education Ministry has prevailed on them to freeze tuition over the past decade, and now they are in financial difficulties as a result of the declining student population and rising costs.
Most predicted that up to a third of universities would have to shut down over the coming years.
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