University Dorms Go Luxurious

Win-win Marketing -

The construction company will run and manage the dormitories for 20-25 years after construction and collect five percent of the annual profit, but after the term, they will give the profits to the campus. Room and board for dormitories in the past cost around 700,000 won for one semester, but it has been said that the new manager, the construction company, will fix the price to approximately one million won (around 250,000 won per month).

The campus and the construction company will cooperate in accordance with the new concept of “educational cooperation model.” Lee In-kyung, the president of Campus.com, said, “We have studied campuses in the U.S. and Japan, which attempts to attain state of the art facilities through making pacts with companies,” and added, “I believe it will be beneficial to both the campus and the company.”

Kim In-chul, planning coordination manager of Hankuk University of Foreign Studies, said, “In the near future, presence of good quality dorms will be a criterion for students in making choices for a university,” and added, “We expect it will be in big favor with not only students coming from local areas but also students who want to be devoted to school and in particular, to female students who have avoided one-room houses off campus due to security problems.”