Universities cut tuition fees for first time

South Korean universities cut annual tuition fees by 4.5% on average this year, government data showed last week, caving in to domestic pressure to lighten the financial burden on students, reports Yonhap News Agency.

An average tuition of 186 universities stands at 6.7 million won (about US$6,000), down 4.48% compared to last year, according to the data compiled by the education ministry. It is the first time that universities have dropped their tuition fees since 1948, when South Korea came into being after World War II, said Ko Young-hoon, a ministry official handling the issue.

South Korean students have repeatedly called for slashing of tuition costs, which burden ordinary households in Asia's fourth-largest economy. The South Korean government set aside 1.75 trillion won (US$1.56 billion) for tuition support in 2012 as part of its move to help ease students' burdens.
Full report on the Yonhap News Agency site