Colleges to allow up to 8 semesters of break for students to encourage starting business

South Korea’s universities specializing in science technology plan to permit students to take a break for up to eight semesters and faculty members up to six years to revitalize business start-ups.

The Ministry of Science, ICT and Future Planning has developed a draft guideline on regulations about starting a business, which can be applied to the country’s five science technology universities: Korea Advanced Institute of Science and Technology (KAIST); Gwangju Institute of Science and Technology (GIST); Daegu Gyeongbuk Institute of Science and Technology (DGIST); Ulsan National Institute of Science and Technology (UNIST), and; Pohang University of Science and Technology (POSTECH). The ministry will hold a public hearing and receive feedback from faculty members and students about the guideline at KAIST in Daejeon Wednesday.

The draft gives six years of break to professors and eight semesters of leave of absence to students to facilitate their entrepreneurship activities. The GIST and UNIST do not permit students to take leave of absence to set up start-ups, while KAIST, DGIST and POSTECH allow four semesters at maximum.

For full article, see Maeil Business.

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