Amid student decline, universities form retirement communities on campus

K-campus

Published: 16 Apr. 2024, 15:33

Amid student decline, universities form retirement communities on campus

Older adults participate in a drawing class at the Tongmyong Well Day Care Center at the Tongmyong University campus in Nam District, Busan. The university plans to also create a retirement community on campus, in partnership with Chosun University. [JOONGANG ILBO]

Some universities are turning to the older population to fill their campuses and bring in additional revenue while the student population declines.

Tongmyong University and Chosun University signed a memorandum of understanding to create a retirement community on their campuses in March.

A retirement community will be built near the main gate of Tongmyong University in Nam District, Busan, with around 600 residences. Chosun University's community will have around 700 residences and will be built near the Chosun University Hospital in Dong District, Gwangju.

Older people will pay to stay at the on-campus retirement communities, while the university will offer various classes and health care support. There will also be programs for older people and university students to come together.

The universities plan to tap into the retirement home business while the student population declines.

According to the Korean Educational Development Institute, there were 5.1 million students in elementary, middle and high school as of March this year. The number is expected to fall 5.9 percent to 4.83 million in 2026.

Tongmyong University has already been operating the Tongmyong Well Day Care Center on campus, offering programs such as music therapy and exercise classes for older adults.

"There will be an increased demand for jobs once the [retirement community] project is completed, as the retirement communities will need people to take care of the older citizens and teach classes," said Kim Jong-ryul, a professor at Tongmyong University. "Universities can create a virtuous cycle by opening majors that train students for those fields and later connecting the students to jobs at the retirement homes."

Jeonbuk National University has been opening part of its campus farm, used by students at its College of Agriculture & Life Sciences, to citizens.

For 40,000 won ($29), nearby residents can use part of the land to grow their crops. Around 120 citizens are selected every year, with each given a 13-square-meter (140-square-feet) plot of land for eight months.

The Catholic University of Pusan is another university planning to create facilities for older people, working with Busan to create the HAHA campus, short for “happy aging healthy aging.”

The HAHA campus will be built on a 9,200-square-meter plot of land at the Catholic University of Pusan's campus in Geumjeong District, Busan. It will be creating space by renovating buildings used by the Pusan Catholic Theological Institute.

A health care center will be built, allowing older adults to get medical treatment and play various sports. There will also be another center that offers various classes and programs, along with a community area where older people can gather and spend their free time.

The university plans to allow older adults to enjoy the various facilities for around 10,000 won a day.

"We are exploring ways to effectively utilize infrastructure of universities amid a decline in student population," said a spokesperson for Busan. "We plan to come up with detailed plans in the second half of this year."

BY KIM MIN-JU, LEE TAE-HEE [lee.taehee2@joongang.co.kr]