Chung-Ang University has been awarded KRW 32.8 billion in funding through direct support projects, one of the governmental financial support initiatives for universities by the Ministry of Education. This number places our university the fifth-largest recipient among private universities nationwide.
According to the "Scale of Direct Support Project for Universities," recently disclosed by the Korea Association of Private University Presidents, the total funding allocated for general support initiatives from the Ministry of Education amounts to KRW 2,722.4 billion. Out of this sum, KRW 2,241 billion has been directly provided to universities. These figures pertain to the 2021 fiscal year and exclude the Ministry of Education’s student financial aid as well as operation and maintenance costs for national and public universities.
In the realm of private universities, Korea University is the largest recipient with KRW 61.59 billion in funding, followed by Yonsei University at KRW 60.39 billion. Sungkyunkwan University secured KRW 57.36 billion, Hanyang University received KRW 41.3 billion, and our university ranks fifth with KRW 32.78 billion.
Recent governmental financial support initiatives have predominantly focused on the fields of science and engineering. CAU distinguishes itself as a comprehensive institution, offering a well-rounded academic portfolio encompassing humanities, art and sports, science and engineering, and medicine. This has presented a challenge in securing financial support, particularly since our science and engineering departments are smaller in scale compared to competing universities.
Nevertheless, our university has overcome these challenges and stands shoulder-to-shoulder with top-tier institutions in terms of financial support projects, and this serves as compelling evidence of our commitment to becoming a research-oriented university with tangible results.
The data concerning the Ministry of Education's financial support initiatives underwent analysis by the Korea Association of Private University Presidents, utilizing the 2021 fiscal year data provided by the university financial disclosure service of the Korea Advancing Schools Foundation and the university information disclosure service of the Korea Council for University Education. The analysis encompassed a total of 196 schools, including 157 private universities and 39 national and public universities, excluding special law corporations and special law national universities.