On April 20, 2009, the Ministry of Education, Science and Technology selected Korean universities and colleges which had obtained excellent results in education, and announced that these universities would be supported financially. Sookmyung Women’s University (SMU) was selected and so will be given 2.5 billion won by the Ministry of Education, Science and Technology. This '2009 Fomula grants for enhanced educational capacity' combines the existing college support projects—the NURI project, the special project for the National Capital region and the special project for colleges.
This project which is aimed at 99 four-year-course colleges and 96 two-year-course colleges provides the support of a total of 4,959 billion won. The standards for deciding ranking included percentage of employment, percentage of the total number of students, level of internationalization, the cost of education per student, the percentage of full-time teachers and the percentage of scholarships provided. To guarantee self-control, the university can use the delivered funding autonomously according to the self-strategy of development or business plans.
