LH-Busan City-Busan Jinhae Free Economic Zone Authority Sign Agreement for Campus Construction
Total Area 18,936㎡, Operating Programs from Kindergarten to High School for 1,200 Students
Design to Start in Second Half of This Year, Completion Scheduled for 2024
[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) announced on the 27th that it signed an agreement for the ‘Busan Myeongji International New City Global Campus Construction Project’ with Busan Metropolitan City and the Busan-Jinhae Free Economic Zone Authority at Busan City Hall.
Busan Myeongji International New City is a free economic zone located in Gangseo-gu, Busan, covering approximately 6.4 million square meters. It is responsible for international business, R&D, foreign education, and residential functions, with about 29,000 housing units planned for construction. Currently, the development work is underway and is scheduled to be completed by 2025.
LH will build a global campus within Busan Myeongji International New City to actively attract global companies. The ‘Global Campus’ is an international school to be constructed on the site designated for foreign educational institutions within Busan Myeongji International New City, with a total floor area of 18,936 square meters. It will serve 1,200 students, offering programs from kindergarten through high school. The facilities will include lecture halls, a gymnasium, faculty housing, student dormitories, and a security building. Design work will commence in the second half of this year, aiming for completion in 2024. After completion, the campus will be handed over to Busan City, which has selected the UK’s Royal Russell School as the foreign educational institution to operate the global campus.
To this end, LH, Busan Metropolitan City, and the Busan-Jinhae Free Economic Zone Authority have agreed to cooperate mutually.
LH will be responsible for the design, construction, and completion of the global campus, overseeing the school’s establishment. Busan Metropolitan City will support various administrative procedures necessary for campus construction and select the foreign educational institution. The Busan-Jinhae Free Economic Zone Authority will assist with various permits and approvals to ensure smooth project progress.
Once the global campus opens, foreign workers will have fewer concerns about enrolling their children domestically, and local students will also have the opportunity to enroll, gaining chances to grow into global experts. The Royal Russell School, selected as the international school, is expected to grow into a representative educational institution of Busan Myeongji International New City and significantly aid in attracting global companies to the district.
Kim Hyun-joon, President of LH, said, "Along with the global campus, cultural complex facilities such as the Nakdonggang Art Hall and a Busan branch of the National Assembly Library are also planned for Busan Myeongji International New City," adding, "We will continue to make active efforts so that the Myeongji district can become a hub for regional community development."
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