Private Investment to Build 'Green Smart Future School'... Busan Office of Education Signs BTL Implementation Agreement

Aerial view of Gupo Elementary School.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] On the 29th, the Busan Metropolitan Office of Education signed an implementation agreement for the Green Smart Future School Build-Transfer-Lease (BTL) project at the Office of Education's first conference room.

The signing ceremony was attended by Superintendent Ha Yun-su, education office officials, and project implementers.

BTL is a method where private capital is invested to construct (Build) school buildings, and upon completion, ownership is transferred (Transfer) to the education office, which then pays rent (Lease) to the private operator for 20 years.

The agreement covers two projects: the "Green Smart Future School Gupo Elementary and Geumsa Elementary Reconstruction Project" and the "Green Smart Future School Bumin Elementary and Bongnae Elementary Reconstruction and Remodeling Project."

The "Gupo Elementary and Geumsa Elementary Reconstruction Project" is implemented by Busan Mirae Kkum Namu Co., Ltd., led by Kyungdong Construction, with a total project cost of 47.4 billion KRW, while the "Bumin Elementary and Bongnae Elementary Reconstruction and Remodeling Project" is implemented by Busan Cham Education Co., Ltd., led by Daebo Construction, with a total project cost of 40.4 billion KRW.

Since announcing the BTL project on December 28 last year, the Busan Office of Education has conducted evaluations and other procedures and has been in priority negotiations with these implementers since April 12.

According to the agreement, each project implementer will improve the target schools into schools equipped with ▲ user-centered spaces ▲ green energy, ecological education, and smart environment-based future education infrastructure.

The Office of Education plans to receive implementation plans from each project implementer by the end of this year and approve them in January next year.

The scheduled groundbreaking date for the four schools is February 10, 2023, and the expected completion date is January 30, 2025.

Ha Yun-su, Superintendent of Busan Metropolitan Office of Education, said, "For over four months since May, school officials and personnel from various fields have conducted negotiations and achieved results that satisfy users," adding, "We will prioritize safety in construction to create future educational spaces that satisfy students and teachers."

The Green Smart Future School is a mid- to long-term national project to transform school facilities that have aged over 40 years into future-oriented school facilities.

Unlike conventional school reconstruction projects, the biggest feature is that students, parents, and faculty participate in the entire project, including pre-planning and design, to create user-centered creative school spaces.

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