Minister Choi Kyo-jin of the Ministry of Education said regarding the overhaul of the grant-in-aid (earmarked tax) for educational finance, "We are considering a plan that reflects the decline in the school-age population to some extent and transfers resources exceeding a certain level to a future response fund."
Minister Choi said on the 21st via Facebook that "the system linking education grants to the national tax must be maintained," and stated accordingly.
The Minister said, "For decades, this system has been an important foundation of our education that has protected students' right to learn regardless of economic cycles," adding, "Stable education finance is the minimum promise for the Republic of Korea's sustainable future."
Choi said, "We cannot blindly ignore the new reality of a declining school-age population and excess tax revenue driven by an economic boom." He explained that this plan is "a balanced alternative to protect the stability of education finance while investing more strategically in future education areas that the nation truly needs."
However, he also laid out preconditions. The Minister said an "education account" must be established within the future response fund and that the law should guarantee that resources secured from excess tax revenue and the like are used for education fields that will determine the nation's future competitiveness, such as early childhood education, higher education, lifelong education, and artificial intelligence (AI) education. The Minister said, "Only then can we maintain the stability of elementary and secondary education while enabling the entire national education system to grow together."
He also mentioned internal efforts at the Ministry of Education. The Minister said, "Education offices and schools, too, need bold innovation to improve budget efficiency," adding that he would reduce unnecessary or customary spending and enhance transparency and accountability in fiscal management.