Duc, sequere, aut de via decede!

The Seagulls of Seogwipo

October 4th, 2011 . by Errol

Korean taxpayers to make up shortfall if “Jeju School For Gangnam Kids” doesn’t repatriate to the UK a profit of 61.2 billion won by 2033

“The funding plan for North London Collegiate School (NLCS) Jeju, (Korea’s first profit-making school) stipulates that, if Haeul (the educational foundation that runs NLCS Jeju) is unable to pay principal and interest, JDC (Jeju Free International City Development Center)* will make these payments itself,” Democratic Labor Party (DLP) Congressional Representative Young-ghil Kwon.

Kwon further noted that; “It is highly likely that the operating losses from this ‘elite school’ will end up being paid for using the Korean people’s taxes.”

The Hankyoreh, Oct.4,2011

* Jeju Free International City Development Center (JDC), is an affiliate of the Ministry of Land, Transport and Maritime Affairs (MLTM). The seagulls are coming home to roost, on the beautiful buildings in Seogwipo, built with 170 billion won, from investors such as the Korean Teachers’ Credit Union.

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