University tuition increasing every year
University tuition fees are slowly increasing each year and reached around 6.8 million won on average in 2023, up from 6.76 million won in the previous year. Some university students work part-time to help cover their tuition. In response, the government has pressured universities not to raise their tuition fees in order to guarantee the basic life of the younger generation. Accordingly, the tuition fees of public universities have remained relatively steady in recent years. Private universities are still raising their tuition every year as their financial management is somewhat free from government regulations.
Higher education in South Korea
There are many universities and colleges in Korea, but the competition is very high in order to get accepted into a high-achieving university. Therefore, students try to increase their competitiveness from a young age through private after-school tutoring. Furthermore, universities are putting efforts into building better research environments. In 2021, Seoul National University received about 593 billion South Korean won towards funding research and was subsequently ranked as the university with the most research funding.