South Korea to allocate 600 billion won to 33 private universities — Korea Herald

South Korea’s Ministry of Education has selected 33 private universities and colleges for a new five-year support program worth 600 billion won, or about $450 million. The funds will be directed toward developing specialized fields, including semiconductors, physical artificial intelligence and aviation, Korea Herald reports.

Support through 2030

Funding will run from 2026 to 2030. The program selected 16 four-year universities and 17 junior colleges. All 16 universities are located outside the Seoul metropolitan region, while the colleges operate both in the metropolitan region and in other parts of the country.

In 2026, the government allocated 85 billion won for universities and 34 billion won for junior colleges. The average support will amount to approximately 5 billion won per university and 2 billion won per college.

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Specialization and enrollment cuts

Institutions must concentrate resources in three areas: advanced and regional strategic industries, health and care services, and culture and content. Sun Moon University will specialize in semiconductors, while Kyungwoon University and Chodang University will focus on aviation. Gumi College will work in physical AI, while Yeungnam University College will develop semiconductor and physical AI fields.

Program participants must reduce admission quotas by at least 3% by 2030 and reorganize departments to concentrate resources in the designated specializations. They must also introduce measures to protect students who may be affected by the reduction or closure of departments.

The ministry will adjust funding based on annual and interim evaluations and will monitor the program’s implementation for up to five more years after it ends.