Agreement signed among the Korea Foundation for the Promotion of Private School, Gyeongbuk Province and 5 Universities in the Gyeongsan including YU
Dormitory for 300 international students and General support center to be opened in September of next year
[April 23, 2012]

 
 Nation's first Global Exchange Center will be built at YU through government-academic cooperation.

 At 11:30 on the 23rd, a signing ceremony was held for the establishment of the 'Gyeongbuk Global Exchange Center' (hereinafter called 'Center') at the first conference room of the Provincial Office of Gyeongsangbuk-do. At the ceremony, the Korea Foundation for the Promotion of Private School (KFPPS, director Lee, Won-hee), Gyeongsangbuk-do (governor Kim, Kwan-yong), Gyeongsan City (Vice-mayor Jung, Byung-yoon representing the mayor), and five universities of the Gyeongsan such as Yeungnam University (president Lee, Hyo-soo), Kyungil University (president Chung, Hyun-tae), Catholic University of Daegu (president So, Byeong-uk), Daegu Haany University (president Lee, Joon-koo), and Daeshin University (president Jeon, Jae-gyu) agreed on administrative and financial support and cooperation for the establishment and operation of the Center in which a total of 7 billion won, including 2.5 billion on national funding and provincial funding of 500 million won, will be invested in.

 In particular, the special purpose company (SPC) will be established for the operation of the Center. For this, the KFPPS and Yeungnam Academy agreed to pay 50% each of the total 20 million won SPC capital, and after giving the operation rights to SPC for 20 years, it will be returned to Yeungnam Academy.

 The Center, which will begin construction later this year is scheduled to open its five story building on a lot 1,983㎡ in area for a total floor space of 7,000㎡ at the south end (112 Gyeyang-dong) of the YU Gyeongsan Campus Hyangtogwan(Dorm) in September of next year.

 
 In the 300 capacity dormitory, 200 international students at YU, and 25 international students each from Kyungil University, Catholic University of Daegu, Daegu Haany University, and Daeshin University will reside here. It will also offer cafeterias, cultural exchange facilities, conference rooms and support centers in order to improve the residential conditions of foreign students in the region.

 On this, Lee, Hyo-soo, president of YU, said, "In the global area, there is no meaning in differentiating the capitol area and provinces. From a pan-global perspective, it is just one region. Therefore, it is necessary for each region to procure channels to communicate directly with the world." He added, "The Gyeongbuk Global Exchange Center that will open its doors at YU will act as such channel later next year."

 Meanwhile, the 5 universities of the Gyeongsan region, including YU, that signed this agreement has a combined 2,780 international students as of April 2012. YU accounts for over 44% of the total with 1,230 international students.