The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Major webtoon platforms' fight against piracy

  • 3

    Seoul city council under fire for sexual conduct guidelines for teachers

  • 5

    Samsung unveils new Galaxy S23 smartphone

  • 7

    Retailers return to Myeong-dong as more foreign tourists visit

  • 9

    Japanese comic series 'Slam Dunk' enjoys resurgence on back of animated film

  • 11

    INTERVIEWA touch of authenticity in Korea's Mexican cuisine scene

  • 13

    Pyongyang threatens eye-for-eye response as US B-1B bombers join drills in South Korea

  • 15

    President pledges support for Korean chipmakers to overcome crisis

  • 17

    Income gap widening among workers

  • 19

    China imposes mandatory virus tests for arrivals from Korea only in latest protest over curbs

  • 2

    Garbage collector mistakes sex doll for corpse

  • 4

    Free subway rides for elderly emerge as headache for Seoul mayor

  • 6

    Korea seeks measures to better protect foreign workers

  • 8

    ENHYPEN-inspired webtoon 'Dark Moon: The Blood Altar' surpasses 100 million views

  • 10

    Is non-consensual sex not rape?

  • 12

    4 South Korean activists arrested for executing orders from Pyongyang

  • 14

    Police to introduce new measures to better handle intoxicated people

  • 16

    $120,000 banana, praying Hitler: Infamous art world prankster Maurizio Cattelan's first Seoul outing

  • 18

    Korea's presidential couple celebrates recovery of Cambodian boy who received heart surgery

  • 20

    Retired actress Shim Eun-ha denies rumor of return

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
Fri, February 3, 2023 | 22:21
8.3 tril. won to be set aside for 30% tuition cut
Posted : 2011-06-24 18:57
Updated : 2011-06-24 18:57
Kim Rahn
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
By Kim Rahn

The government will set aside 8.3 trillion won ($7.7 billion) over the next three years to effectively lower college tuition by about 30 percent by 2014 through subsidies to students, ruling party officials said Thursday.

Government officials of related ministries and Grand National Party (GNP) leaders agreed on the plan in an emergency meeting Wednesday night, the officials said.

The agreement comes about one month after GNP floor leader Hwang Woo-yea pledged to solve the high tuition issue in an apparent attempt to woo voters ahead of the National Assembly and presidential elections next year, following growing calls from students and citizens to cut tuition.

Under the agreement, a total of 8.3 trillion won — 6.8 trillion won from state funds and 1.5 trillion won from colleges — will be spent to lower fees. Among those present at the meeting were Hwang, Strategy and Finance Minister Bahk Jae-wan and Education, Science and Technology Minister Lee Joo-ho.

“The government will provide 1.5 trillion won next year, 2.3 trillion won in 2013 and 3 trillion won in 2014 to universities to help them cut their tuition. Along with 500 billion won each year from schools, the money will lower tuition by 15 percent in 2012, 24 percent in 2013 and 30 percent in 2014 compared to current fees,” Hwang said in a media briefing in Seoul.

Of the 1.5 trillion won for next year, 200 billion won will be spent for expanding national scholarship programs. “By 2014, students from families in the bottom 10-percent income bracket will receive scholarships. We’ll also seek to remit interest on student loans during the period male students complete their military service,” Hwang said.

The government currently offers 500 billion won per year to students of families receiving livelihood subsidies.

Universities will also be encouraged to use 500 billion won every year for scholarships. Schools making efforts on their own for tuition cuts will get incentives.

Besides the plan, the GNP will try to expand the government budget for higher education as a proportion of gross domestic product to the OECD average of 1 percent from the current 0.6 percent.

It will also seek to restructure poorly managed colleges, passing relevant bills at the National Assembly plenary session this month. Tax benefits for donations to colleges will also be discussed.

Whether college tuition will be cut as planned, however, remains to be seen, because some officials said it is an agreement between the government and the ruling party in a broad sense and not a final decision.

“We need consent from opposition parties at the House session in September to set up the budget, and we need to decide on the details of the plan with the government. We’ll keep making efforts to produce positive results,” said Rep. Lee Joo-young, the GNPchief policymaker.

A spokesman of the finance ministry also said the government and the GNP didn’t reach an agreement on the exact amount of budget support, adding the amount was only the latter’s proposal.

Universities generally welcomed the plan but said they needed to discuss some of the measures before accepting it, adding that providing 500 billion won every year would not be easy.
Emailrahnita@koreatimes.co.kr Article ListMore articles by this reporter
 
Top 10 Stories
1Seoul city council under fire for sexual conduct guidelines for teachers Seoul city council under fire for sexual conduct guidelines for teachers
2Samsung unveils new Galaxy S23 smartphone Samsung unveils new Galaxy S23 smartphone
3[INTERVIEW] A touch of authenticity in Korea's Mexican cuisine scene INTERVIEWA touch of authenticity in Korea's Mexican cuisine scene
4Pyongyang threatens eye-for-eye response as US B-1B bombers join drills in South Korea Pyongyang threatens eye-for-eye response as US B-1B bombers join drills in South Korea
5Police to introduce new measures to better handle intoxicated people Police to introduce new measures to better handle intoxicated people
6Gov't announces measures to cope with shortage of surgeons Gov't announces measures to cope with shortage of surgeons
7[INTERVIEW] 'Extended deterrence is best option to ensure peace on Korean Peninsula' INTERVIEW'Extended deterrence is best option to ensure peace on Korean Peninsula'
8Teens feel peer pressure to buy luxury goods endorsed by K-pop stars Teens feel peer pressure to buy luxury goods endorsed by K-pop stars
9[INTERVIEW] US-NK summit is unlikely in 2023: Korea Society INTERVIEWUS-NK summit is unlikely in 2023: Korea Society
10[INTERVIEW] IMF expects no recession for Korean economy INTERVIEWIMF expects no recession for Korean economy
Top 5 Entertainment News
1Major webtoon platforms' fight against piracy Major webtoon platforms' fight against piracy
2ENHYPEN-inspired webtoon 'Dark Moon: The Blood Altar' surpasses 100 million views ENHYPEN-inspired webtoon 'Dark Moon: The Blood Altar' surpasses 100 million views
3$120,000 banana, praying Hitler: Infamous art world prankster Maurizio Cattelan's first Seoul outing $120,000 banana, praying Hitler: Infamous art world prankster Maurizio Cattelan's first Seoul outing
4PULL UP: VIVIZ returns with new song about gossipers PULL UP: VIVIZ returns with new song about gossipers
5Park Hyung-sik to play crown prince in tvN series 'Our Blooming Youth' Park Hyung-sik to play crown prince in tvN series 'Our Blooming Youth'
DARKROOM
  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

  • World Cup 2022 France vs Morocco

    World Cup 2022 France vs Morocco

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group