First Sale of a Private University
The first sale of a private university may just be the tip of the iceberg as many universities are facing difficulties operating their educational institutions since the IMF bail out.The Ministry of Education (MOE) approved on December 7 that Gacheon Educational Foundation, which operates Gil Hospital, can acquire Kyungwon University and its subsidiaries.
A source at Gacheon said, ' The Foundation will hold a board of directors meeting by next week and nominate a new board chairman.'
Analysts predict that big deals among universities which are now facing financial difficulties will occur more frequently from now on.
with the Korea JoongAng Daily
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