Higher Education in Korea: Tradition and Adaptation

Higher Education in Korea: Tradition and Adaptation

Higher Education in Korea: Tradition and Adaptation

Higher Education in Korea: Tradition and Adaptation

Synopsis

This work describes Korea's higher education system, presenting a fundamentally Korean view of the important issues in their country's higher education system and builds alternative theoretical perspectives.

Excerpt

John C. Weidman and Namgi Park

This book contains a comprehensive description of the Korean higher education system. in an effort to get a uniquely Korean point of view, the editors invited Korean scholars of higher education to write all of the book’s chapters. the book is intended for use by scholars of comparative higher education as well as by faculty and staff in higher education institutions around the world who work with Korean students and faculty. Each of the chapters includes historical background as well as more contemporary assessments of the Korean higher education system.

consequences of the 1997-98 asian economic crisis

It is important to reflect on the consequences for higher education of the severe economic crisis that occurred in 1997 in Korea, as well as in the entire East Asian region. the crisis was precipitated by an unexpected drop in the value of Asian currencies that posed serious threats to economies throughout the region. By early 1998, the value of the Korean won in U.S. dollars was just half of what it had been in November 1997, and interest rates in Korea were 25 percent per annum. Foreign currency problems, along with other structural issues in the banking and finance systems of many Asian countries, including Korea, led the International Monetary Fund (IMF) to intervene in an effort to stabilize the economic situation.

The Asian economic crisis has affected Korean higher education, especially the private sector, severely. Dongguk University, one of the

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