S Korea to increase support for operating expenses of overseas Korean schools

16:22, March 09, 2010      

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South Korea has earmarked 21.7 billion won (19.1 million U.S. dollars) this year as government subsidies for operating expenses of 30 overseas (South) Korean schools located in 15 countries, the education ministry said Tuesday.The increase is a 42 percent jump from the previous year, as it is aimed at easing the pressure of high-tuition costs of some of these schools that have reached at most 13 million won (11, 000 U.S. dollars) per year in 2009 due to tepid government support, according to the ministry.

Of the total amount, 12.7 billion won (11.2 million U.S. dollars) will be spent on faculty salaries while the rest will be used on rent and repair expenses, the ministry said.

In particular, five of the largest (South) Korean schools with more than 1,000 students, located in Tokyo, Beijing, Shanghai, Ho Chi Minh City, and Jakarta, will see a 64 percent spike in government subsidies under this plan, added the ministry.

The South Korean government's total budget for investment in overseas (South) Korean schools have increased 92 percent this year compared to 2009, from 27.3 billion won (24.1 million U.S. dollars) to 52.4 billion won (46.2 million U.S. dollars), it added.

Source: Xinhua
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