Five Universities Selected for Private School Innovation Support Project... 2 Billion KRW Support Over 2 Years

Sangji University, Sungkonghoe University, Sungshin Women's University, Chosun University, Pyeongtaek University Selected
Consulting Provided by Advisory Group... Institutionalization to Be Promoted in the Future

[Asia Economy Reporter Han Jinju] Sangji University, Sungkonghoe University, Sungshin Women’s University, Chosun University, and Pyeongtaek University have been selected for the Ministry of Education’s Private University Innovation Support Project.

On the 13th, the Ministry of Education announced the selection of five universities to carry out the Private University Innovation Support Project and stated that each school will receive 2 billion KRW over two years.

The selected universities will undertake innovation tasks aimed at enhancing the transparency and public nature of private universities. Among the innovation tasks proposed in the project plans are ▲establishing a continuous internal accounting control system ▲expanding the number of outside directors in the foundation ▲mandatory participation of outside directors in faculty and staff disciplinary committees.

Sangji University established a system for raising objections to board resolutions. Sungkonghoe University is pursuing a plan to add outside directors beyond the legal requirement (one-quarter of the total number of directors). Sungshin Women’s University decided to mandatorily include outside directors in the faculty and staff disciplinary committees. Chosun University is establishing and operating an internal accounting management system for the foundation’s affiliated institutions. Pyeongtaek University plans to build a standardized personnel management system.

The Ministry of Education plans to operate an advisory group composed of experts to provide consulting for each university to enhance project outcomes. Additionally, it intends to disseminate outstanding innovation cases to other universities and institutionalize them.

Deputy Prime Minister and Minister of Education Yoo Eun-hye stated, "We expect the universities selected this time to lead the strengthening of transparency and publicness across all private universities by producing various private university innovation achievements, and the Ministry of Education will actively cooperate and support to back this up."

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