University Dormitory to Be Built on Yongsan Railway Site in Seoul

Ministry of Land and Ministry of Education Sign MOU... Targeting Opening in 2024

A university dormitory with a total floor area of 12,000㎡ will be built on railway land in Yongsan-gu, Seoul.

The Ministry of Land, Infrastructure and Transport and the Ministry of Education announced on the 30th that they signed a Memorandum of Understanding (MOU) to promote the construction of a joint university dormitory utilizing idle railway land to alleviate the housing cost burden for university students.

At the signing ceremony, Minister of Land, Infrastructure and Transport Noh Hyung-wook, Minister of Education Yoo Eun-hae, Korea National Railway President Kim Han-young, and Korea Student Aid Foundation President Jung Dae-hwa attended and discussed each institution's role for the prompt advancement of the project before jointly signing the agreement.

According to the agreement, the Ministry of Land, Infrastructure and Transport will provide five parcels of idle railway land totaling 5,851㎡ in Yongsan-gu adjacent to the Gyeongui-Jungang Line and Gyeongbu Line free of charge for the dormitory construction. The Korea Student Aid Foundation will build the dormitory on the site.

The dormitory will be a building with two basement floors and 15 above-ground floors, with construction starting in 2022 and aiming to open in the first semester of 2024. It will accommodate approximately 750 people. A total of 40 billion KRW in donations from four local governments?Busan Gijang-gun, Ulsan Ulju-gun, Gyeongbuk Gyeongju-si, Jeonnam Yeonggwang-gun?and Korea Hydro & Nuclear Power will be used as funding.

The dormitory usage fee is about 150,000 KRW per person (based on double occupancy), which is cheaper than the typical private university dormitory fee of around 400,000 KRW, according to the Ministry of Land, Infrastructure and Transport.

The Ministry of Land, Infrastructure and Transport is promoting various policies to create residential spaces utilizing railway facilities. Recently, it established a plan for railway and housing complex development by constructing private railway stations and vehicle depots as building-type structures.

Minister Noh Hyung-wook said, "Through this MOU and project promotion, I hope university students can relieve the burden of housing costs," adding, "We will continue to actively discover various projects to improve the quality of housing while reducing housing cost burdens."

This content was produced with the assistance of AI translation services.