Education minister Lee Ju-ho has pledged to cut red tape to merge the operation of universities and colleges.

Meeting with the heads of universities on Tuesday, Lee said he plans to deregulate, financially reform, and restructure in a balanced manner to ensure the level of deregulation is on par with those of world-class institutions in advanced countries.

The minister said through deregulation, one institution will be able to offer university, college and cyber programs, similar to schools in the U.S.

Lee emphasized the need to restructure in the wake of a population decline, saying not all institutions will remain standing.

He promised to provide support to those that actively participate in restructuring so that they can contribute to regional development.