Do I need to return my ARC to study abroad in Korea?

Hello! I am currently a foreign student residing in Korea, holding a D2 visa. I would like to participate in an exchange student program next year, and I am curious if I need to return my ARC (Alien Registration Card) in this case. I need to maintain my current ARC and mobile phone number that I can use in Korea, but I am not sure what measures are needed in this regard when participating in an exchange student program. If anyone has similar experiences or information, please advise me. Is there a way to maintain a base for living in Korea while participating in an exchange student program? Thank you!