The government has assessed that 38 private universities will shut down in the next three years due to a plunge in student numbers.

In a report to parliament on Monday, the Education Ministry said that university admission quotas will see a shortage of about 56-thousand students in 2021.

It's the first time the government has stated the number of schools that are expected to close in the future.

A ministry official said the actual number of schools closing could be higher than the projection.

The Education Ministry is preparing follow-up measures as school closures can lead to social issues such as staff layoffs and abandoned buildings. It has requested some 100 billion won from budget authorities for related use.

Meanwhile, the ministry will announce later this month the final results of the 2018 assessment on the capabilities of the nation’s universities. The outcome is expected to determine the fate of struggling schools on the verge of closure.