Pupils learn how to do division as they attend an open math class utilizing digital versions of print textbooks, provided on tablet computers with additional video and audio information, at Namsan Elementary School in Chuncheon, Gangwon Province, South Korea. Photo by YONHAP / EPA
June 18 (Asia Today) -- South Korea is again considering changes to a local education funding system that automatically receives a fixed share of national tax revenue, as a semiconductor-driven rise in government receipts is expected to increase grants despite a shrinking student population.
The debate centers on local education finance grants, the main source of funding for elementary, middle and high schools administered by regional education offices.
The grants have risen to about 76 trillion won ($50 billion) under this year's supplementary budget, according to the National Assembly Budget Office and education officials.
Some projections suggest the total could exceed 80 trillion won ($52.6 billion) if stronger tax revenue from the semiconductor industry is fully reflected.
