Decline in Korean students studying abroad continue post-Covid

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The number of Korean students studying abroad dropped by about half compared to 2017, continuing the downward trend that began during the Covid-19 period even after it wanes.

According to data from the Ministry of Education and the Korean Educational Development Institute on Monday, the total number of Korean students studying abroad in 2022 was 124,320, falling by 48.1 percent from 239,824 in 2017.

Experts say that the number of people willing to invest substantial time and money into attending foreign universities has decreased as the advantages of studying abroad, such as domestic employment opportunities and network building, have become less prominent.

In the past, there was a significant demand for individuals to pursue studies abroad to acquire language skills and broaden their views, and indeed, an MBA degree from a foreign institution was highly esteemed in society. With Korea being an advanced economy in recent, however, the enthusiasm for studying abroad has somewhat diminished.

There are concerns, however, that a decline in the number of young people choosing to go abroad may indicate a weakening of the global mindset and the tenacious spirit that have driven the nation’s economic growth. Some compare the latest trend of young Koreans being reluctant to study abroad to a similar phenomenon observed in Japan - complacency among young people as the nation went through three decades since the bursting of the bubble economy.