Monthly Payment of 800,000 to 1,100,000 KRW to Science and Engineering Graduate Students... Improvement of Research Funding System

Ministry of Science and ICT Announces Improvements to Student Labor Cost System and Operates Research Life Scholarship

The government will improve the research fund management system to operate the 'Korean-style Stipend' (Research Life Scholarship), which provides 800,000 to 1,100,000 KRW monthly to science and engineering graduate students starting next year.

Universities wishing to receive the Research Life Scholarship must operate the 'institution pooling system' that manages research funds collectively. A plan to mandate the allocation of a portion of the personnel expenses accumulated by researchers at the end of each year into a shared fund for the institution is also being pursued.

The Ministry of Science and ICT announced on the 5th that it will release this student personnel expense system improvement plan and accept applications from universities to be designated as student personnel expense management institutions.

According to the improvement plan, universities participating in the Korean-style Stipend project must establish an overall institutional account. Detailed accounts can also be established concurrently depending on each university's circumstances. Previously, it was not possible to operate detailed accounts alongside the overall institutional account, but this will now be allowed.

Additionally, a new measure will be introduced to transfer a certain percentage of the remaining balance in the principal investigator's account to the institutional account at the end of the year for utilization.

For researchers' personnel expenses, it is possible to carry over a certain amount to the following year, but part of this will be redirected to the institutional account instead of the individual researcher's account to be used for student personnel expenses and other purposes.

The Ministry of Science and ICT stated that this approach is being introduced to increase the payment rate of student personnel expenses to researchers and to enable efficient autonomous allocation at the institutional level.

In addition, the Ministry plans to improve the inspection items for managing student personnel expenses and strengthen management by awarding commendations to institutions with excellent operations. The Ministry announced that it has opened applications for designation as management institutions at the institutional level starting today, and universities must apply to receive financial support next year.

The Ministry of Science and ICT stated that financial support projects related to the Research Life Scholarship will be decided later after collecting field opinions and consulting with related ministries. Starting from Daejeon today, the Ministry will hold regional briefing sessions on the system improvement plan and gather feedback.