Assemblyman Yoon Young-deok: "Private School Promotion Foundation Act and Private School Act Bills Approved by the Subcommittee"

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] As the number of school corporations dissolving due to a decline in the school-age population is expected to increase, related legislation to efficiently support the liquidation of dissolved corporations has passed the bill subcommittee.

Yoon Young-deok, a member of the National Assembly (Democratic Party of Korea·Gwangju Dongnam-gap), announced that the "Partial Amendment to the Korea Private School Promotion Foundation Act and Partial Amendment to the Private School Act" was approved on the 28th by the Education Committee’s Bill Review Subcommittee of the National Assembly.

The bill includes provisions to clearly establish the legal basis for separately designating a liquidation support account for dissolved school corporations to facilitate smooth liquidation support.

The amendment divides the Private School Promotion Fund into a "Private School Support Account" and a "Liquidation Support Account." According to the Private School Act, the remaining assets that previously reverted to the national treasury after a school corporation’s dissolution will now be allocated to the liquidation support account of the Private School Promotion Fund, providing a legal basis to use these funds as resources for liquidation support loans.

Assemblyman Yoon said, "Among nine university school corporations that have closed since 2000, only one has completed liquidation," adding, "With delays in the liquidation process causing faculty and staff to suffer unpaid wages and other damages, the passage of this amendment was necessary."

He continued, "I hope that with the bill’s passage, liquidation support projects will proceed smoothly to protect members of closed schools who are experiencing economic difficulties such as unpaid wages."

Meanwhile, the bill is scheduled to be submitted to the plenary session held next month after approval by the full Education Committee and review by the Legislation and Judiciary Committee.

This content was produced with the assistance of AI translation services.