Pohang Choseo Elementary and Yongsan Elementary to Open in March Next Year... Gyeongbuk Office of Education's First Public-Private Joint Investment New Construction

The Gyeongbuk Office of Education announced on the 21st that the construction of Choseo Elementary School and Pohang Yongsan Elementary School, scheduled to open on March 1st next year in the Chogok and Yongsan districts of Pohang, is progressing smoothly.

Both schools will have 24 classes each and are public-private joint investment schools where the Gyeongsangbuk-do Superintendent of Education supplies the school land, and the development project implementer donates the school facilities in accordance with the school land contribution fee.

Gyeongbuk Office of Education

An official from the Gyeongbuk Office of Education stated, “The developer building apartments near the school is required to pay 8% of the total sale price as a school land contribution fee, but instead of paying this fee, they build the school and then donate it. While this public-private joint investment method of building schools is occasionally seen in Seoul and Gyeonggi Province, it is the first time in the Gyeongbuk region.”

Once the two schools open on March 1st next year, they will accommodate about 1,500 elementary students from approximately 11,400 households in the Chogok and Yongsan districts.

Currently, the construction of the fourth-floor floor slab is underway, aiming for a normal opening in March next year. A budget of 500 million KRW is being provided for purchasing opening preparation items such as desks, chairs, and fixtures. Additionally, through consultations with related organizations, safety inspections of major school routes will be conducted, including the designation of child protection zones, and the maintenance of crosswalks and signal systems.

In particular, as a result of the school name contest held in July, the school names were decided as ‘Choseo Elementary School’ and ‘Pohang Yongsan Elementary School,’ respectively, and will be finalized by reflecting them in the Gyeongsangbuk-do Public School Establishment Ordinance in December.

Lim Jong-sik, Superintendent of Education of Gyeongbuk, said, “Due to the scale of local education finances and the decrease in the number of students, establishing new schools has become much more difficult than in the past. However, the public-private joint investment method applied in the Chogok and Yongsan districts can be a good alternative to overcome this. We will actively consider the joint investment method in other development districts if there is voluntary participation from developers.”