Postech to create international admissions track for undergraduates

Postech will receive $1.2 trillion won of investments in the next 10 years and will use the funds to create an international admissions track for undergraduate students.

Pohang University of Science and Technology's campus in Pohang, North Gyeongsang [POHANG UNIVERSITY OF SCIENCE AND TECHNOLOGY]

Pohang University of Science and Technology (Postech) announced it will receive 1.2 trillion won ($900 million) of investments in the next 10 years and will use the funding to create an international admissions track for undergraduates and enhance its research competitiveness.

The investment was finalized during a board of directors meeting on Tuesday, the university said Thursday.

Of the 1.2 trillion won that will be invested through 2033, 800 billion will come from the university's foundation. Postech expects another 200 billion from donations.

The university was selected for the government's Glocal University 30 project last year, and the sum of 100 billion won it will receive is included in the 1.2 trillion won investment plan. The university's home of North Gyeongsang is offering another 100 billion won in hopes that the university's growth will help revive the local economy.

Those funds will mostly be used to attract talented students and faculty. Primarily, they will help the university create an undergraduate admissions track for international students.

Postech doesn't currently have a separate international admission track for undergraduates, though it has one for its graduate school. The university had no international students in its undergraduate program in 2023 and 113 in its graduate schools, according to the Korean Council for University Education.

The university will also increase the number of classes taught in English due to the growth of its international student body.

It also plans to offer 10 million won in financial aid to each of its undergraduate students. The students will be able to use the money for various ventures during their studies, such as creating a startup or attending international conferences.

Retirement age for professors will be extended from 65 to 70. The investment will be used to offer incentives to those with outstanding research performance. Incentives will also be offered to attract more overseas faculty.

And the university will create a so-called Future Campus Town, which will include various facilities for learning and research, a test bed center and apartments for professors. Labs for life science and engineering students will also be renovated.

BY LEE TAE-HEE [lee.taehee2@joongang.co.kr]