Academic Credit Bank System is governed by National Institute for Lifelong Education.
Degrees awarded through the Credit Bank System are recognized as equivalent to those who graduated from a university under Article 2, Paragraph 1 of the Higher Education Act or a junior college under Article 2, Subparagraph 4 of the same Act.
A bachelor's degree can be obtained if all degree requirements set forth in the law are met, including a total of 140 or more credits, including major and liberal arts credits.
A bachelor's degree awarded through the Academic Credit Bank System is recognized as having an academic background equivalent to that of a graduate of a university specified in Article 2, Paragraph 1 of the "Higher Education Act" (고등교육법).
An associate degree awarded through the Academic Credit Bank System is recognized as having an academic background equivalent to that of a graduate of a junior college under Article 2, Paragraph 4 of the Higher Education Act.