South Korea invests $3.7 billion to revamp medical education by 2030

The South Korean government has announced plans to invest 5 trillion won ($3.7 billion) by 2030 to improve the educational infrastructure of medical schools, following a significant increase in their admissions quotas. This initiative was revealed by the education ministry after the admissions quota for 2025 was raised by 1,500 seats, marking the first increase in 27 years, Yonhap news agency reported. 

Starting in 2025, the investment will include the addition of 1,000 full-time faculty members at state-run medical schools by 2027, with 330 positions set to be filled next year. Approximately 150 billion won will be allocated for enhancing educational facilities and equipment at these institutions, while 172.8 billion won will be made available as low-interest loans to private medical schools seeking to improve their environments.

The funding will also provide significant support for general university hospitals, including 82.9 billion won for the construction of new classrooms and research facilities, and 167.8 billion won aimed at boosting research capabilities in medical services, particularly in underserved areas and critical medical fields.

Read more: South Korea’s mid-sized businesses hit $2.52 billion in Q2 profits on semiconductors and auto parts

By 2028, clinical training centers are expected to be established in all state-run university hospitals, offering medical students and resident doctors a simulated hospital environment for their education, as stated by the education ministry.

For more economy news, click here.