Daekyung University President Chaeyoung Lee's Annual Salary 312.5 Million KRW ... Highest Among Private Universities Nationwide

Disclosure of Data by National Assembly Education Committee Member Yoon Young-deok
Average Annual Salary of Private University Presidents is About 160 Million KRW
"Presidents' Salaries Are Excessively High Amid Tuition Refund Demands"

Screenshot of Daekyung University homepage.

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] Amid increasing demands for tuition refunds from university students due to the prolonged COVID-19 pandemic and the rise of remote classes, it has been found that presidents of private universities nationwide receive an average high salary of about 160 million KRW.

In particular, the president of Daekyung University, located in Gyeongsan City, Gyeongbuk Province, was confirmed to receive the highest salary nationwide, exceeding 300 million KRW, drawing attention. President Chaeyoung Lee is the wife of honorary president Yujinseon, the university’s founder.

According to data on 'Presidents' Salary Payment Status in the Last Three Years' submitted by the Ministry of Education to Representative Youngdeok Yoon (Democratic Party of Korea, Gwangju Dongnam-gap) of the National Assembly Education Committee on the 27th, among 100 specialized colleges that disclosed presidents' salaries, Daekyung University's president recorded the highest amount at 312.5 million KRW.

Following were the presidents of Bucheon University (274.74 million KRW), Dongnam Health University (274.74 million KRW), Seojeong University (266.3 million KRW), Busan University of Science and Technology (244.28 million KRW), and Myongji College (222.86 million KRW), in that order.

Daekyung University, with its main campus in Gyeongsan City, Gyeongbuk Province, was established as Daekyung Junior College in 1993 by the Jungam Academy Foundation (founder Yujinseon), renamed Daekyung College in 1998, and finally changed to Daekyung University in 2012.

According to the current Private School Act, the spouse of the chairman, direct ascendants and descendants and their spouses cannot serve as the head of the school of the relevant corporation. However, if more than two-thirds of the board members agree and the competent authority approves, an exception can be made for appointment.

Representative Youngdeok Yoon pointed out, "At a time of great economic difficulty due to the COVID-19 crisis, demands for tuition refunds are emerging worldwide," adding, "While university finances are becoming strained, it may not be viewed positively that some university executives receive excessively high salaries."

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