by Abby Chau
- A new report by the European University Association (EUA) has been published to address how institutions can look elsewhere to diversify their income. The report is based on 150 responses from universities spanning 27 different countries and shows that although public funding accounts for 73% of budgets, institutions must get creative in order to remain competitive. Findings show that red tape and an inflexible structure can stronghold universities from seeking private funding.
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- In less than a decade, South Korea has tripled its international faculty and is poised to make significant gains in its internationalisation program as heavy hitters like the United States and the UK slump into economic austerity. Currently 7% of South Korea’s faculty are foreign hires, compared to Japan’s, which has a longer history on the international stage, average of 5%. Last year the government approved a $752 million World Class University Project which, among other initiatives, earmarked funds to hire more foreign professors as a method to modernise its higher education system. However, many are saying that there are issues that still need to be ironed out, such as the fact that salaries for foreign professors are nearly double that of domestic faculty, and a recent survey by the Education Ministry found that international faculty average a stay of only four months before they decide to leave their post.
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