Ministry of Science and ICT to Provide Financial Support to 50,000 Graduate Students
The Ministry of Science and ICT announced on Feb. 11 the implementation plan for this year’s Science and Engineering Research Encouragement Fund. This initiative, set to officially commence this year, aims to provide substantial financial support to graduate students in science and engineering fields, addressing concerns of reverse discrimination and enhancing the overall research environment.
The fund guarantees a monthly stipend of 800,000 won for master’s students and 1.1 million won for doctoral students. Approximately 30 universities and 50,000 graduate students are expected to participate in the initiative this year. The ministry plans to announce the participating universities by March 13, marking a crucial step in the fund’s rollout.
The initiative comes in response to concerns raised last year within the scientific and technological community. There was apprehension that students from top-tier universities, known for their strong national R&D performance records, might face reverse discrimination by not receiving government support. The Ministry of Science and ICT has addressed these concerns by planning to expand funding and implement an incentive system starting next year. This system aims to provide additional support measures for students from prestigious universities, ensuring equitable access to resources.
The ministry has emphasized the importance of evaluating student treatment improvements at each university. Incentive funds will be provided to universities with excellent performance, allowing them to autonomously create student support programs. This approach is designed to encourage universities to contribute financially through incentives, creating a collaborative system where both the government and universities jointly manage the Research Encouragement Fund.
The budget for the fund is approximately 60 billion won this year, with plans to expand it through consultations with the National Assembly. The government also intends to support universities in securing dedicated personnel for project management and establishing management systems, enabling them to operate the system independently.
The ministry aims to focus on supporting students below the minimum standard from this year until 2027. Thereafter, the system will be enhanced by introducing an incentive system to address reverse discrimination, highlighting its commitment to creating a fair and supportive environment for all students.
As the fund prepares to launch, the ministry’s efforts to balance support across various institutions and address reverse discrimination concerns are expected to have a lasting impact on the country’s research landscape. The initiative not only promises to enhance the quality of education and research but also aims to foster a more inclusive and equitable academic environment.
Michael Herh, South Korea Launches Science and Engineering Research Encouragement Fund – Businesskorea, 11 February, 2025