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Low birthrate forcing institutions to close
By Kim Hyun-bin
An increasing number of local universities are on the verge of shutting down in the coming years, due to the low birthrate that has been plaguing the nation.
Each university or college that could be forced to close in the suburbs will take a direct toll on the local economy and local residents fear this the most.
Their fears could come to pass just four years from now. Two year colleges will start to see a drastic reduction of students starting from 2022, and four year universities by 2024, what experts are calling a "college shutdown domino."
It has become inevitable for colleges to face low enrollment as the country's birthrate continues to fall.
The low birthrate generation began in 2002 with total newborns for that year recording 490,000 dipping below the 500,000 mark for the first time.
South Korea hit its new record low of 357,700 in 2017 down 11.9 percent from the previous year, according to Statistics Korea. It's the lowest number since the statistical agency started to compile data in 1970.
Low birthrate = Shutdown
According to research conducted by Cho Young-tae, a professor of health demography at Seoul National University there are 138 colleges and 189 universities currently operating in the country as of last year. However, due to the drastic decrease in the country's birthrate, 43 colleges in 2022 and 73 four year universities by 2024 will no longer be needed.
70 percent of the operating costs of an institution typically come from tuition fees and if enrollment tanks it will have a direct effect on the survival of the school.
"The reduction of student enrollment is becoming a threat to universities and colleges. The institutions are more aware of their situations and are asking for aid," said an official at the Ministry of Education.
"We are currently looking for ways to combine nearby universities in the future that are struggling to meet their student quotas."
Many experts point out that the decision to combine universities that are struggling to stay afloat does not solve the root problem.
"The decision to combine schools will be ineffective, the government needs to come up with a solution to tackle low enrollment," said Cho Young-tae, a professor of health demography at Seoul National University.
"Currently the nation is fixed on enrolling 18 year olds who just graduated from high school, but it should widen the enrollment age gap so people of all ages could attend."
Last year alone, three universities _ Seonam University, Hanzhong University, and Daegu University of Foreign Studies _ closed due to corruption and lack of funds to operate the institutions.
Recent statistics show that enrollment rates for higher education which include all types of colleges and universities have drastically dropped in recent years.
College enrollment hit its peak in 2008 with 83.8 percent of high school grads going to college. That number, however, continues to decline. By 2017 only 68.9 percent went to college according to recent data from Statistics Korea.
Many experts point out that with the current trend the enrollment rate will continue to fall each year.
Work vs. education
Another key factor for the decline in college enrollment is due to changes in perspectives toward higher education. Many Korean high school students are entering the workforce instead of enrolling in college.
Each year an increasing number of college grads are struggling to find jobs, which is pushing more high school students to jump into the job market right after graduation.
The college graduate unemployment rate surpassed that of high school graduates for the first time last year.
The unemployment rate for graduates with a bachelor's degree stood at four percent, doubling the jobless rate of high school graduates.
Over half a million college graduates struggled to find jobs _ 90 thousand more than high school grads.
"More people are realizing that a college degree does not guarantee a job, so more people are jumping into the workforce to make a living early on," said Cho.
In 2009 only 16.7 percent of vocational high school grads were lucky enough to get jobs, but since then that number has soared.
Just last year, 50.6 percent of vocational high school graduates landed jobs, marking the first time in 17 years since that number surpassed the 50 percent mark.
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