Foreign schools in FEZs

Foreign schools in FEZs

The government is reportedly set to renew efforts to enact a law on foreign schools in the free economic zones during the parliamentary session which starts Tuesday. We urge it to make sure that the law is enacted without further delay.

The existence of world-class foreign universities would decrease the number of Korean students going abroad for higher education, reducing the growing deficit in service trade. According to the data released on Friday, overseas remittances for education and training totaled about US$2.5 billion last year, a surge of 34.1 percent from the previous year.

For the government, while it is important to invite foreign schools, it is just as important to allow private investment to flow into the education sector. One of the reasons for the failure of the universities to respond to the manpower needs of society is the lack of investment in higher education. By lifting entry barriers to the educational sector, the government will not only open up investment opportunities for private investors but accelerate educational reform.

-- The Korea Herald, Seoul