Assemblyman Yoon Young-deok to Prepare Measures to Protect Members of Closed Universities

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] A bill has been proposed to protect university members from damages such as wage arrears caused by the increasing number of closed universities.

On the 9th, National Assembly member Yoon Youngdeok (The Democratic Party of Korea, Gwangju Dongnamgap) announced that he had taken the lead in proposing the "Partial Amendment to the Korea Private School Promotion Foundation Act" and the "Partial Amendment to the Private School Act."

The bill includes provisions to clarify the legal basis to facilitate the liquidation of school corporations dissolved due to school closures.

Last year, due to amendments to related laws, school corporations that were dissolved could efficiently liquidate by borrowing funds through the Private School Promotion Fund, but since the resources for this were not explicitly stipulated, there were difficulties in securing the budget.

Accordingly, the Private School Promotion Fund is divided into the "Private School Support Account" and the "Liquidation Support Account," and the remaining assets that previously reverted to the national treasury after the dissolution of school corporations under the Private School Act will now be allocated to the "Liquidation Support Account" of the Private School Promotion Fund, thereby establishing a legal basis to use these funds to support the liquidation of closed universities.

Representative Yoon said, "Since 2000, 18 universities have been closed, but among the nine dissolved corporations, only one has completed liquidation," adding, "To prevent damages such as faculty and staff not receiving unpaid wages due to delays in the liquidation process, it is urgent to amend the related laws."

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