How To Help A University In Korea

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1 Korea Foundation for the Promotion of Private School makes Happy School, with Dream and Talent. 19, 41-gil, Seocho-daero, Seocho-gu, Seoul, Phone 02) ( 代 ) Call Center 02) ~

2 Korea Foundation for the Promotion of Private School makes Happy School, with Dream and Talent. Korea Foundation for the Promotion of Private school

3 By nurturing excellent private schools, we open the future with children's dream and talent. Korea Foundation for the Promotion of Private School (KFPP) will become a 'happy school partner' that can make children pursue their dreams with peace of mind, for the upcoming 100 years of the future Korean education. CONTENTS Greetings from Director _ 03 History _ 04 Vision and Organization _ 05 Edu clean Up (Ethical Management) _ 06 Public Institution with High Customer Satisfaction _ 07 Main Business _ 08 Financing Educational Facilities _ 10 Supporting Happy Dormitory _ 16 Support for Private University Management Consulting _ 22 Support for Private University Accounting Transparency _ 26 Support for Private University Training and Research _ 30 Integrated Degree Management for Closed Universities _ 32 Support for Korean University Globalization _ 33

4 Greetings from Director KFPP will make happy schools where everyone enjoys studying and growing their dreams! Korea Foundation for the Promotion of Private School(KFPP) was founded in 1989 to grow dreams for the future generations and has been striving to improve educational facilities of private schools. For the last 24 years, by raising the private school promotion funds of 1, 233 billion won, we have made an effort to secure safe and good educational facilities. For adjusting to changing future environment and education system, KFPP is beginning to take a new step to make 'happy schools' where children can happily study and nurture their dreams and talent. For this goal, we will expand educational facilities based on new renewable energy system, and increase financing for ICT convergence equipment. By activating industryacademy cooperation through building campuses in industrial complex, etc., we will support private schools to lead creative economy. Also, by expanding public and unified dormitories, we will reduce the financial burden on college students so that everyone can feel satisfied with studying meanwhile, we are improving the competitiveness of private universities through support with management consulting, financial data collection and analysis, and faculty training. We will continue to support private schools in Korea not only to be able to compete with renowned private schools around the world amidst rapidly evolving globalization but to foster excellent, creative people. Please, send us consistent support and attention in creating the new future through education. Director of Korea Foundation for the Promotion of Private School

5 04 Korea Foundation for the Promotion of Private school History Establishment Purpose of Korea Foundation for the Promotion of Private School To contribute to promoting private school education by supporting improvement in environmental education of private educational facilities Mar Enactment and declaration of Act for Private School Promotion Foundation (Legislation no. 4103) Dec Establishment of Private School Promotion Foundation, Foundation and management Private School Promotion Funds Dec Change the name to Korea Foundation for the Promotion of Private School (Legislation no. 5067) 1989~ Mar Private university budgets and closing accounts reception (Consignment by the Ministry of Education) Jan National and public and private budgets and closing accounts of the Industry-Academic Cooperation Foundation received (Consignment by the Ministry of Education) 2000~ Jan Commenced support for private university management consulting (Consignment by the Ministry of Education) Jan Designated for support for building global exchange center (Consignment by the Ministry of Education) Jun Support for domestic universities' overseas expansion (Consignment by the Ministry of Education) Mar Review of sharing corporate allotment with schools (Consignment by the Ministry of Education) Mar Designated for executing public dormitories Aug Post-management of closed (discontinued) universities (Consignment by the Ministry of Education) Sep Designated for executing unified dormitories Feb Post-management of disposal and bond flotation of schools (Consignment by the Ministry of Education) 2010~

6 Vision and Organization 05 Vision Mission Nurturing happy education to grow dream and talent Vision Exclusive institution supporting education to lead creative economy Trust Trust from people built through the best service Creation Discovery of new growth source through creative work improvement Responsibility Social contribution system expansion through responsible management Strategic goals Happy education base on educational expense reduction Nurturing trustable universities with enhanced transparency Happy education through private school promotion funds Responsible public institution accompanying the local community Organization Board of Directors Fund operation review committee Director Secretary general Part-time auditor Fund division Financing team Dormitory team Educational finance, information support team University development support team University management training team Planning and strategy team Audit team Committee for transfer to Daegu

7 06 Korea Foundation for the Promotion of Private school Edu Clean UP! KFPP will become a reliable public education institution through ethical and anti-corruptive system (Edu Clean UP!) New Ethical Management Through the ethical and anti-corruptive system and cooperation with local community, we will become the high class educational public institution people can trust and love. Establishment of Ethical management transparent management system Operates clean report center and budget waste report center Organizes and operates for construction sites transparency committee Ethical management Unification of contracts through Public Procurement Service Annual ethics education for the full-time staff (100% completed) Nurtu ri Regular inspection of staff code of conduct ng an System Cle g n tabl ishment Es Declared Edu Clean UP Sprea di Implementation of the anti-corruption vow by staff Voluntary Social Contribution Cooperation with local community Social sharing through purchase of products produced by the disabled

8 EduCleanUP Public Institution with High Customer Satisfaction 07 Public Institution with High Customer Satisfaction KFPP will constantly strive for customer satisfaction as a public institution. Selected as an institution with high customer satisfaction In 2012, KFPP was selected as a superb institution, the highest grade in the public institution customer satisfaction survey conducted by the Ministry of Strategy and Finance. Customer satisfaction scores Classification Korea Foundation for the Promotion of Private School Average score of public institutions Institution score Average score of public institutions [KFPP selected as a "superb institution", the top grade in the public institution customer satisfaction survey by the Ministry of Strategy and Finance in 2012 KFPP selected as a "superb institution", the top grade in the public institution customer satisfaction survey by the Ministry of Strategy and Finance in 2012 Korea Foundation for the Promotion of Private School(Director Wonhee Lee, hereafter 'Foundation') announced that it was selected as a "superb institution" the top grade in the public institution customer survey by the Ministry of Strategy and Finance, December 28, The Foundation's score in 2012 was 91.6, 4.2 and 6.5 higher than the previous year and the average score of public institution of 85.1 respectively 2011 institution score: 87.4, average score: institution score: 91.6, average score: 85.1

9 Main Business Happy School KF Reduced Education Costs Building Happy Dormitories (public, unified) for lower dormitory fee for university and college students Supporting dormitories for public purposes Building global exchange center for international students

10 Universities Competitiveness PP Improvement in Expanding educational facility and equipment Expanding educational facilities based on new renewable energy Supporting educational facilities for infant schools Building Industrial complex campuses and industry-academy convergence complex Support for private university management consulting Support for private university accounting transparency Support for private university training and research Integrated degree management for closed universities Support for university globalization

11 10 Korea Foundation for the Promotion of Private school Financing Educational Facilities With 1,233 billion won of Private School Promotion Funds, KFPP will expand state-of-art education facilities to open the future of Korea with children s dreams. Happy schools growing children's dreams!

12 Financing Educational Facilities 11 H a p p y s s s c h o o l s f u l l s o f s d r e a m s Circulating system of funds management The Private School Promotion Funds are raised reliably by circulating funds management, which uses existing funds and loan principal and interest. Funding Loan Fund repayment Re-funding Current status of Funding and Support As of late 2012, total 1,233 billion won have been raised, and 2,231.2 billion won have been provided to support a total of 1,635 private schools to create state-of-art educational environment. Funds Provided by Year (100million won) 25,000 22,312 20,000 15,000 11,470 16,180 10,000 7,676 5, ,894 0 ~1993 ~1997 ~2001 ~2005 ~2009 ~2012 (Funding Provision by Year)

13 12 Korea Foundation for the Promotion of Private school Supported Subjects To make happy education for children, the funds have been provided to institutions from private kindergartens to graduate schools, to create better educational environment. Applicable legal act : Article 2 of Private School Act and Article 31 and 33.3 of Lifelong Education Act Types of Supported Schools Kindergartens built and operated by educational foundations for infant education Elementary, middle, and high schools and equivalent special and other schools Universities, colleges, cyber universities, technical colleges, and other schools Lifelong education facilities in a school format with recognized degrees, operated by a corporation according to the article 31 of Lifelong Education Act Support Procedure Fund Review Committee, composed of experts in various fields, review provision of Private School Promotion Funds. Review and assignment process for funding support Application for fund Aug.-Sep. every year KFPP reviews the schools applying for the fund Oct. every year 1st substantive examination by the committee Early Nov. every year 2nd overall review by the committee (assignment plan review) Mid Nov. every year Review and conclusion by the board of directors Nov. every year Announcement and notification Nov. every year

14 Financing Educational Facilities 13 H a p p y s s c h o o l s f u l l s o f s d r e a m s 2013 Main Support Projects To expand better educational facilities, from 2013, the following projects will be focused on ❶ Expanding educational facilities using new renewable energy ❷ Supporting the establishment of happy infant educational facilities for children aged 0-5 ❸ Supporting the introduction of ICT convergence educational equipment and program to nurture creative talents ❹ Supporting expansion in overseas educational facilities to enhance universities global competitiveness ❺ Supporting establishment of industrial complex campus and industry-academy convergence complex to strengthen the base of creative economy Lecture hall of Dong-eui University Hospital of Dong-A University Hospital equipment of CHA University

15 14 Korea Foundation for the Promotion of Private school Q A Don t elementary and middle schools need more support because their facilities are not as good as (those of) universities? To improve poor facilities of elementary and middle schools, KFPP is providing support for projects of less than 1 billion won as a priority. We are trying to create the educational environment where children can study safely. Q A Can a kindergarten operated by an individual receive the support as well? The current Private School Act says that, it is possible to support the fund to kindergartens operated by individuals but the funding is difficult because there are no standardized accounting rules regarding financial treatment of those kindergartens. After the accounting rules are established, KFPP will expand support for individuallyoperating kindergartens.

16 Financing Educational Facilities 15 H a p p y s s c h o o l s f u l l s o f s d r e a m s Q A Are there any benefits for provincial universities or colleges? KFPP is expanding funding benefits for provincial universities and colleges to improve their poor environment. To projects promoted by provincial universities and colleges, up to 40 additional points are granted so that provincial universities and colleges can benefit from the support. Q A What is the limit of the amount of loan? Up to 30 billion won can be supported for a school. For colleges and universities, if they exceed the accumulated limits, the surplus is supported with a security. For educational foundations expanding basic properties for profit, up to 10 billion won can be provided.

17 16 Korea Foundation for the Promotion of Private school Supporting Happy Dormitory KFPP is helping with housing welfare of university and college students by building Happy Dormitories where the fees are much lower than normal dormitories. Happy Dormitories to reduce financial burden on university and college students

18 Supporting Happy Dormitory 17 Ha p p y sdo r m i t o r i e s sto sre d u c e sfi n a n c i a l sbu r d e n son sun i v e r s i t y san d sco l l e g e sst u d e n t s New Dormitory System Public Dormitory for university and college Students KFPP has helped university and college students relieve their housing finance by changing the paradigm of dormitories built by individual universities and allowing local governments and public funding to participate. University, government or local government provides dormitory sites National Housing Fund Supports finance for building dormitories Private School Promotion Funds(KFPP) Supports finance for building dormitories dormitories Builds and operates dormitories Expected effects Improved housing for low-income university and college students Supports dormitory fees for low-income class students (50% discount) Improved housing for international students Improved housing for international students by building the global exchange center Lowered dormitory fees Reduced to 120, ,000 won per month Enhanced transparency in building and operating dormitories KFPP manages building and operating Private School Promotion Funds Expanded dormitory accommodation capacity 18.4% 25% In association with the Ministry of Land, Infrastructure, and Transport, KFPP has built public dormitories per maximum fee of 240,000 won per month on university lands, that lead to a reduction in financial burden on university and college students. Dormitory fee (for a double room, maintance fees inclusive): 240,000 won/month 50% discount to low-income students, 120,000 won/month Support status: Total billion won have planned to be provided to 13 universities between 12 and 13, to expand dormitories that can accommodate 8,676 people Air view of public dormitory in Sejong University Air view of public dormitory in Daegu Hanny University

19 18 Korea Foundation for the Promotion of Private school Unified Dormitory for University and College Students Unified dormitories students from nearby universities and colleges can use are built on public and national lands outside universities and colleges. Dormitory fee Support status 190,000 won/month (for a double room, maintenance fees inclusive) Building a unified dormitory for university and college students in Hongjaedong, Seodaemungu, Seoul in 2012 (Planned to be completed in May 14) Capacity Total budget Private School Promotion Funds National Housing Fund 516 people 15.9 billion won 7.5 billion won 8.4 billion won Air view unified dormitory for university and college students, Hongjedong

20 Supporting Happy Dormitory 19 Ha p p y sdo r m i t o r i e s sto sre d u c e sfi n a n c i a l sbu r d e n son sun i v e r s i t y san d sco l l e g e sst u d e n t s Global Exchange Center Cooperating with local governments, KFPP builds dormitories for international students to globalize provincial universities and improve housing of international students. Dormitory fee Support status 120,000 won/month (Gyeongbuk Global Exchange Center, for a double room, maintenance fees inclusive) Building the Gyeongbuk Global Exchange Center in Gyeongsan in 2012 (Planned to be completed in May 14) Capacity Total budget Government subsidies Private School Promotion Funds Local government Youngnam University 240 people 9.8billion won 2.5billion won 3.6billion won 0.5billion won 3.2billion won Air view Global Exchange Center, Kyungbook

21 20 Korea Foundation for the Promotion of Private school Support for Changing Dormitories for Public Purpose KFPP provides Private School Promotion Funds for a long term at a low interest rate to dormitories operated by private university and college to reduce financial burden on university and college students Direction of support for changing dormitories for public purpose Private School Promotion Funds are loaned at a lower interest rate for a long term to support reduced dormitory fees for university and college students Support for provincial universities and technical colleges with relatively weaker finances is enhanced to reach out to more university and college students The dormitory management foundation participates to expand support for lowincome students, disabled students, and the less privileged Support Status 10 universities supported Year 2007~ 2012 Total cost billion won billion won by Promotion Funds Capacity 15,552 people Effects Projects for existing private dormitories (in Seoul) Public dormitory for university and college students Unified dormitory for university and college students Provincial universities Building global exchange centers Based on a double room (maintenance fees inclusive), monthly dormitory fee (based on 10,000 won)

22 Supporting Happy Dormitory 21 Ha p p y sdo r m i t o r i e s sto sre d u c e sfi n a n c i a l sbu r d e n son sun i v e r s i t y san d sco l l e g e sst u d e n t s Q A If public (unified) dormitories are converted to public (unified) dormitories, how much can the fee be lowered? The fee for public (unified) dormitories promoted by KFPP is up to 160,000 won per month less expensive than those of normal private universities. The public dormitory charge around 240,000 won per month, and unified dormitories used by multiple universities cost 190,000 per month (maintenance fees inclusive). KFPP will actively participate in dormitory operation to minimize costs and financial burden on university and college students. Q A How do you select beneficiaries of public dormitory support? After receiving application from universities for public dormitories, the review committee composed of private and government experts review and select the beneficiaries. Rather than the university's financial status, we assess the necessity, feasibility, and public interest of dormitory project, and additional 20 points are given to provincial universities and technical colleges to expand support for private colleges with poor finance.

23 22 Korea Foundation for the Promotion of Private school Support for Private University Management Consulting Specialized in university management consulting, KFPP analyzes management activities and suggests direction for development for university and college to enhance their competitiveness Good universities nurturing creative talents and sources of future growth!

24 Support for Private University Management Consulting 23 G o o d s u n i v e r s i t i e s s f o s t e r i n g s c r e a t i v e s t a l e n t s Project Outline KFPP provides management consulting for private universities and colleges and suggests the direction for future development to help them nurture creative talents. Subjects Universities, industrial, technical colleges and other various schools according to the article 2 of Higher Education Act Support Design plans to improve the structure based on the university s own restructuring plan Consulting period Average 3 months for a university Support scale in universities Consulting fields For sustainable development of universities, KFPP supports external restructuring such as merger and acquisition of universities as well as internal restructuring including student reduction and integration of departments. External restructuring To suggest plan to expand or reduce the university s scale or convert to another institution by changing external structure through integration and closing of colleges of the identical corporation, M&A of colleges, and dissolution Internal restructuring To suggest plans to improve educational environment and management efficiency through internal structure reform such as specialization, student reduction, integration and closing of similar departments, and financial expansion

25 24 Korea Foundation for the Promotion of Private school Support status and results KFPP has provided management consulting to total 75 universities between 2010 and 2013, improving competitiveness of private universities and therefore, the quality of Korea's higher education. Support status relating to management consulting Total 75 universities supported by 2012 (university: 43, college: 32) 10 universities to be supported in 2013 Management consulting in 2010~2012 _ total 75 schools Consulting theme 2010~2012 Support record School structure / Management system improvement Restructuring of schools within the identical corporation total Universities Colleges total Improvement in project performance rate through consulting quality management The Management Consulting Quality TF team composed of the Ministry of Education, KFPP, consulting agency, and university personnel, reviews the goal, suitability and fidelity of the project in the middle and at the end.

26 Support for Private University Management Consulting 25 G o o d s u n i v e r s i t i e s s f o s t e r i n g s c r e a t i v e s t a l e n t s Change of Consulted Universities Universities that received consulting from KFPP shows improved performance and growing as a better school. Improvement results in major educational index Major indexes Classi fication University College growth rate growth rate Supplement of new student Existing student recruitment Healthcare insurance DB employment rate 92.6% 94.3% 1.8% 79.7% 90.2% 13.1% 89.2% 92.8% 4.0% 80.9% 93.2% 15.2% 51.5% 58.9% 14.4% 51.7% 59.1% 14.3%

27 26 Korea Foundation for the Promotion of Private school Support for Private University Accounting Transparency KFPP collects and analyzes financial data of private universities and announces them, to increase management transparency and credibility of private universities and colleges. Transparent and reliable private university and college!

28 Support for Private University Accounting Transparency 27 T r a n s p a r e n t s a n d s t r u s t a b l e s p r i v a t e s u n i v e r s i t y s a n d s c o l l e g e Project KFPP collects and analyzes budget, closing accounts, original property, facility status, etc., of industry-academy cooperation agency of private colleges and public universities, to improve their finance and accounting transparency. Subjects for financial data collection Private, technical, cyber university and college Industry-academy cooperation agencies of national, public, private universities, colleges, cyber colleges Contents of financial data Budget and closing accounts of school and corporate expense accounts Budget and closing and accounts of industry-academy cooperation agencies and university hospitals and school accounting Original property and educational facilities of universities and corporations Status inspection KFPP performs field status inspection to increase reliability of collected financial data, and check whether private universities and colleges are following relevant regulations. Inspection of budget, closing accounts, and original property Subject: private universities and colleges (60 schools are inspected every year from 2013) Inspection: compliance with budget/ closing accounting related laws, and management of educational facilities and original property Review of sharing corporate allotment of private school pension with schools Review of financial status and future improvement plan of educational foundation that uses school budget accounting for private school pension, which must be paid by a university corporation, because of poor finance Post-management of original property of educational foundation In case of an educational foundation disposal of its original property, KFPP inspects whether the transfer of ownership and execution of disposal was lawful.

29 28 Korea Foundation for the Promotion of Private school Disclosure of financial information KFPP discloses financial information of universities to the public through Academy Info and Private University and College Accounting Information System. From Academy Info Private universities and colleges budget, closing accounts, and original property is disclosed according to Special Act for Information Disclosure of Educational institutions Website URL : Private University and College Accounting Information System Disclosure Annual statistics relating to private universities and colleges budget, closing accounts, and original property Website URL :

30 Support for Private University Accounting Transparency 29 T r a n s p a r e n t s a n d s t r u s t a b l e s p r i v a t e s u n i v e r s i t y s a n d s c o l l e g e Establishment and distribution of standardized accounting system KFPP builds and distributes standardized accounting system for private universities and colleges, to make their accounting more transparent Project outline and distribution status Purpose : to build and distribute standardized accounting system for private universities and colleges, to increase the accounting transparency and work efficiency of private universities Status : the system was built in Oct and distributed to total 17 colleges in total. (8 universities and 9 colleges) System Chart Individual departments Affiliated institution Individual colleges UNIVais (University and College accounting information system) Budget management Budget standard info. Supplementary budget Monthly execution plan Budget execution Budget status Main budgeting Special budgeting Carry forward budgeting Supplementary statement Budget settlement KFPP SSL security / user authentification / integration authority Accounting management Accounting standard Info. Statement management Account settlement management Management analysis index management Resolution management Expense management Tax management Maintenance support Training support Accountingrelated works Related standard info. Pay management Settlement management Asset management Scholarship management Personnel management Retirement management Contract management Scholarship management Customer support Customer support site System support Customer support System introduction and consulting Linking ASP / file /interface table System management System joint management System setting management Maintenance KFPP Higher education finance system External system National Tax Service Financial institution Private colleges' internal system general / research /undergraduate administration

31 30 Korea Foundation for the Promotion of Private school Support for Private University Training and Research KFPP supports new changes of university and college through staff training and private school forums. Universities and Colleges with constant changes through continuous learning of the teaching staff

32 Support for Private University Training and Research 31 C o l l e g e s s w i t h s c o n s t a n t s c h a n g e s s t h r o u g h s c o n t i n u o u s s l e a r n i n g Training support KFPP manages training programs for various tasks related to management of private university and college including management strategy, human resource management, asset purchase, finance, and tax management. Offline training program Total 68 trainings planned for 2013 Fields: total 52 including management plan, financial accounting, human resource and labor Application: Online training program (cyber training center) Total 28 trainings planned for 2013 Fields: educational laws and fundamental finance and taxation Website URL : Research support To induce constant change of university and college, KFPP researches higher education policies and holds private school promotion forums to suggest direction for their future development. Plans for policy research and private school promotion forum in 2013 Policy research private school promotion forum Subject Period Subject Period Research on operation system and improvement of Private School Promotion Funds Research on construction standard model for the private university and college dormitory project Research on plans to reduce fees for unified dormitories of private university and college through tax reform Research on execution of external accounting and audit system to enhance transparency of private university and college March May Issues and challenges for higher education policies to improve competence of university and college Plans to realize creative economy through convergence of education and tourism industry April June June 3 forums Second half July - -

33 32 Korea Foundation for the Promotion of Private school Integrated degree Management for closed universities KFPP facilitates the students to learn in a stable environment integrated degree management for closed universities Project KFPP issues various certificates to students and teaching staff from closed universities for stable learning and career management. certificates Students Teaching staff Diploma, transcript, expelling certificate, tuition payment receipt, scholarship receipt, practice certificate, etc. Career certificate, lecture certificate Application for certificate issuance Issuance of various certificates can be applied online or by mail Website URL : Authenticity of issued certificates can be verified on the website above.

34 Support for Korean University Globalization 33 Support for Korean University Globalization KFPP supports Korean Universities for achieving world-class level as consulting overseas expansion and offering their information to international students. Support for overseas expansion Invitation of International Students Excellent Korean education is expanded worldwide through overseas educational facility license and overseas branch schools. Project Provides information related to education, college foundation, facility acquisition-relat ed laws for the country Consults about project feasibility, financial resources securement schemes, and midterm finance estimation Builds DB for teaching facilities and branches abroad for individual colleges By inviting excellent international students to Korean colleges, students can learn with excellent curriculum in Korea together. Invitation of Brazilian students _ SwB Korea Purpose: Offering chance of experience that can study in best Korean university to outstanding Brazilian students as science without Borders of CNPq, in Brazil Participating universities: 13 universities (Seoul National University, KAIST, Yonsei University, etc.) Results: Total 309 Brazilian students invited (In 2012 and 2013) Invitation of Argentinean students _ BEC.AR Korea Purpose: Training and sharing of relevant field experiences through short-term training of Argentinean researchers in science departments (NT, BT, ICT) in Ko rean universities Participating university: Ajou University

35 We are creating the future education with happy schools KFPP will grow the future of Korea through happy schools that nourish children's dream and talent.

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