Gochon Haksa, a housing support facility (free dormitory) created by the private scholarship foundation of Chong Kun Dang, the Chong Kun Dang Gochon Foundation, for college students from outside Seoul, has been put up for sale, with the No. 1, No. 2, and No. 3 buildings listed for a combined 15.2 billion won.
With the first housing support facility run by a private scholarship foundation entering the sales process, some interpret this as Chong Kun Dang scaling back its scholarship program. The Chong Kun Dang Gochon Foundation said, "This is not a reduction of the scholarship program but an 'expansion transfer' prompted by aging facilities."
According to the real estate and pharmaceutical industries on the 17th, among the Gochon Haksa dormitories operated in Seoul by the Chong Kun Dang Gochon Foundation, No. 1 (Donggyo-dong, Mapo District) is listed at 4.5 billion won, No. 2 (Hwigyeong-dong, Dongdaemun District) at 2.2 billion won, and No. 3 (Junggok-dong, Gwangjin District) at 8.5 billion won. The total sale amount for the three is 15.2 billion won. The dormitories are reportedly seeking new owners through individual sales rather than a bundled sale.
No. 1 is a building with one basement level and three above-ground floors, with a total floor area of 419㎡ (about 126 pyeong). No. 2 is a building with one basement level and three above-ground floors, with a total floor area of 291㎡ (about 148 pyeong), and No. 3 is a building with one basement level and six above-ground floors, with a total floor area of 2,173㎡ (about 657 pyeong).
Gochon Haksa is the first housing support facility by a private scholarship foundation, established for college students from outside Seoul who struggle with housing due to the jeonse and monthly rent crunch.
The Chong Kun Dang Gochon Foundation is a scholarship foundation established in 1973 with the personal funds of the late Chairman Lee Jong-geun of Gochon, the founder of Chong Kun Dang, with the goal of returning corporate profits to society. Lee began this scholarship program to address the practical difficulties faced by young people, and his eldest son, Chairman Lee Jang-han, carried on his father's wishes by proposing and promoting "Gochon Haksa."
In addition to the three now on the market, Gochon Haksa is also operating No. 4 (Yeongdeungpo-dong, Yeongdeungpo District). No. 1 opened in 2011 with an investment of 2 billion won, followed by No. 2 in 2012 with an investment of 1.7 billion won, and No. 3 in 2014 with an investment of 5.2 billion won. No. 4 opened in September 2020 and is a newer building compared with Nos. 1–3.
The dormitory sale has raised concerns that Chong Kun Dang's scholarship program may be shrinking. In response, the Chong Kun Dang Gochon Foundation said, "It is true that we have put them on the market, but the intention is to improve aging facilities and expand the scholarship program, and we are not considering any reduction in dormitory operations at all." A representative said, "The sale has not been finalized, and we first listed them to gauge market trends, such as whether there are buyers."
The foundation explained, "Since Nos. 1 through 4 have been operated for a long time, the facilities have aged, and we are exploring a move to a larger building that can offer a better environment and accommodate more people." However, the person added, "No new site or facility has been decided."