Support of 390 Billion KRW for 97 Specialized College Innovation Projects

Ministry of Education Selects 10 Additional Junior Colleges Leading Post-Secondary Advancement

[Asia Economy Reporter Jo In-kyung] The Ministry of Education has decided to provide 390 billion won for the specialized college innovation project, which is 100 billion won more than last year, to respond to future demand for higher vocational education and to nurture future talents needed for the 4th Industrial Revolution.

The Ministry of Education announced the "2020 Specialized College Innovation Support Project Basic Plan" containing these details on the 13th.

This project designates general funding for three years from March last year to February 2021 to autonomous improvement colleges (87 schools), capacity enhancement colleges (10 schools), and advanced admission leading specialized colleges (25 schools, including 10 new schools this year).

The budget for this project in its second year, this year, was allocated 390.8 billion won, an increase of 100 billion won (34.4%) compared to the previous year, focusing on promoting the autonomous development of specialized colleges while nurturing talents that meet the demand of future new industries in preparation for the 4th Industrial Revolution and strengthening the function of lifelong vocational education institutions.

In particular, this year, the "advanced admission leading specialized colleges," which operate customized short-term non-degree courses for adult learners such as employees, local residents, and vulnerable groups, will be operated at a total of 25 schools, 10 more than last year, to support systematic vocational education.

Accordingly, the Ministry of Education has increased accountability by combining and distributing this year's budget based on a resource allocation formula reflecting the educational conditions of universities and performance support funds according to the results of last year's performance evaluation.

The evaluation for the distribution of performance support funds is conducted by assessing the innovation performance and plans of specialized colleges, including core performance indicators of specialized colleges, development of curricula that can meet the demand for new future occupations, innovation in teaching methods and faculty training, and contributions to the local community such as high school-industry cooperation.

Furthermore, the Ministry of Education plans to newly select 10 advanced admission leading specialized colleges between March and May and support more specialized colleges to establish customized short-term non-degree courses for adult learners in cooperation with local governments as regional vocational education centers.

Im Chang-bin, Director of Vocational Education Policy at the Ministry of Education, stated, "We will strengthen the role of specialized colleges as lifelong vocational education institutions and provide customized counseling and support for university development strategies throughout the year to enable universities to achieve substantial changes."