South Korea's 'Study Korea 300K Project': A Magnet for 300,000 Global Students by 2027
The South Korean government is set to revolutionize education with the 'Study Korea 300K Project,' aiming to draw in 300,000 global students by 2027. Focused on addressing the country's need for high-skilled workers and global competitiveness, this initiative prioritizes streamlined permanent residency and increased opportunities.
To achieve this ambitious goal, the government is boosting the allocation of government scholarships, particularly the Global Korea Scholarships, with a special emphasis on STEM fields. Korean universities are also encouraged to enhance English-medium instruction to elevate their global appeal.
In the face of competition from Japan and Taiwan, Korea is determined to become a top study-abroad destination. Despite a 17.6% year-over-year growth, reaching 207,125 enrollments in June 2023, the target of 300,000 represents a 30% increase over the next five years, aligning with Korea's aim to rank among the world's top 10 study-abroad destinations by 2027.
More Insight
To accommodate the surge in international students, Korean universities are planning to introduce new measures, including additional scholarships, simplified residency permits, reduced language requirements, lower minimum bank balances, and increased work hours for students applying to Korean universities.
These measures include targeting scholarships to specific countries and increasing quotas for students interested in defense and nuclear technology. The focus on STEM fields aims to diversify student demographics, reducing reliance on students from certain countries. Additionally, the government plans to expedite permanent residency applications, reducing the current six-year process to just three years for graduates with Korean degrees.
Further considerations involve potential adjustments to the International Education Quality Assurance System, easing proficiency levels required on the Test of Proficiency in Korean (TOPIK) to include applicants with Level 3 proficiency. This move aims to address language barriers and cater to students with varying language proficiencies.
To enhance the overall student experience, South Korea plans to lower the minimum bank balance required for a visa and allow students to work more hours while studying in the country, making Korean higher education more accessible and appealing to a diverse global student population.
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