Центр Стэнфорда в Кореи закроется после растраты 12,3 млн долларов налогоплательщиков

ED $12.3 million in Korean taxpayers' money wasted on Stanford Center Korea Summary Stanford Center Korea will conclude all research activities at Incheon Global Campus in Songdo this year as it winds down operations over budgetary and operational challenges. The center opened in June 2021 and focused on smart city research. It has received 17 billion won, or $12.3 million, in support from the government and IFEZ this year, while IFEZ had planned annual support through 2028. Key Facts - The center opened in June 2021 at Incheon Global Campus in Songdo. - Its research covered smart city topics ranging from urban technology and sustainability to health care and social equity. - Stanford Center Korea has received 17 billion won, or $12.3 million, in support from the government and IFEZ as of this year. - IFEZ had planned to provide 2.4 billion won in annual support through 2028 before the closure was announced. - In 2023, the trade ministry cut the center’s annual subsidy by 10 percent after a performance assessment, and IFEZ later offset the cut under a revised agreement. Stanford Center at Incheon Global Campus to wind down this year, after receiving 17 billion won Incheon Free Economic Zone (IFEZ) houses the international campuses of top foreign educational and research institutions. Host to international colleges such as SUNY Korea – Stony Brook University, University of Utah Asia campus, George Mason University and top research centers, Incheon Global Campus (IGC) in Songdo has been linked with the rise of a more global Korea. Recently, however, Stanford Center Korea said all research activities will conclude this year there as it gradually winds down operations due to budgetary and operational challenges. The center, which opened in June 2021, was engaged in "smart city" research projects on issues ranging from urban technology and sustainability to health care and social equity, serving as an academic bridge between the U.S. Silicon Valley and Korea. Despite its impending closure, the center's broader relationship with Korea will continue through other collaborations, according to Julie Greicius, associate dean for communications and alumni affairs at Stanford Engineering. But it is unclear what these collaborations will be, especially since Stanford University, under its deal with IFEZ, retains intellectual property rights from its research activities. It is regrettable that this cooperative arrangement is now coming to a close. The center's closure comes as top U.S. universities face growing pressure under the Donald Trump administration amid proposed cuts to federal research funding. Another issue may well be how IFEZ manages its partnerships with foreign educational institutions and research centers. IFEZ, working with the Ministry of Trade, Industry and Resources, has been providing funding assistance as well as tax benefits to institutions at IGC. This arrangement between IFEZ and foreign academic institutions and research bodies leads to active collaboration with Korean firms, universities and government agencies. Stanford Center Korea has already received 17 billion won ($12.3 million) in support from the government and IFEZ to date as of this year. IFEZ planned to provide 2.4 billion won in annual support through 2028 before the center announced its closure. Signs of a rift over financial assistance appeared in 2023 when the trade ministry reduced the center's annual subsidy by 10 percent following a performance assessment. The reduction reportedly prompted objections from the university. IFEZ decided to offset the cut under a revised agreement. Criticisms were raised about the effectiveness of using public funds this way, an assessment that IFEZ officials rejected. As countries continue to pursue academic exchanges with foreign institutions through global campuses and research centers, they must grasp the necessity of balancing external factors, like the U.S. administration's strident stance on foreign aid or exchanges, with internal considerations such as ensuring that projects funded by taxpayers' money are properly managed. With the center's closure, research partners at Korean firms, universities and government agencies face limited access to ongoing projects and research outputs, since intellectual property rights are held solely by Stanford. Many will question how such exchanges benefit the public. More pointedly, Incheon Metropolitan City councilors have called on IFEZ to establish stronger safeguards for publicly funded research. Some have pointed out that IFEZ may have moved too quickly in its ambition to host top foreign educational institutions and research centers. A government's financial subsidy, even when provided in a free economic zone, comes from public coffers and therefore entails responsible allocation. IFEZ needs to be more accountable and draft agreements with foreign institutions with clearer guidelines governing financial assistance, intellectual property and access to research outcomes, among others. Korea is more than capable of upgrading its management of deals in its free economic zones and in partnership with foreign institutions. Explore More - Q. - Q. - Q.