As college restructuring is now taking off due to some policy and social factors, such as the decreasing number of students and greater emphasis on public nature of higher education, more colleges are expected to face closure, whether forcefully or voluntarily.

Currently, Articles 82 and 83 of the Civil Act applies mutatis mutandis to the case of liquidation of a juristic person of school as a result of a closedown of a college, such that a person without specialty and expertise in colleges is often designated as a liquidator, which often leads to a delay in liquidation, damaging the persons concerned and increasing social costs. In addition, despite the increasing importance of public services such as the issuance of certificates regarding school register after closedown of a college and correction of school records, etc., there is a lack of legal basis regarding the management of records produced by a closed college.

Therefore, this Amendment aims to designate the Korea Foundation for the Promotion of Private School, which has a high understanding of and ability to carry out college restructuring policies as well as expertise in managing and supporting abolished/closed colleges, as the liquidator for the case of a dissolution of a school juristic person as a result of an order of dissolution by the Minister of Education, and to provide a basis for designating the Korea Foundation for the Promotion of Private School as the entity exclusively in charge of transfer and preservation of all records of a closed college, including school registers.

Details

A. Where a school juristic person is dissolved as a result of an order of dissolution by the Minister of Education according to Article 47 (1) of the Private School Act, the Promotion of Private School may be designated as the liquidator and in such cases, Articles 82 and 83 of the Civil Act shall not apply mutatis mutandis (Article 47 (3)).

B. Where a school juristic person is dissolved under Article 47 of the Private School Act or closed down through authorization of abolishment under Article 4 of the Higher Education Act or through order of closedown under Article 62 of the Higher Education Act, all records produced and/or preserved by the school juristic person or college shall be submitted to the Minister of Education, and the Korea Foundation for the Promotion of Private School may be designated as the entity exclusively in charge of the transfer and preservation of such records (Article 47 (4)).

Prescribe that, in case of dissolution of a school juristic person under Article 47 of the Private School Act or closedown of a college through authorization of abolishment under Article 4 of the Higher Education Act or through order of closedown under Article 62 of the Higher Education Act, all records produced and/or preserved by the school juristic person or college shall be submitted to the Minister of Education (Article 47 (4))