Yellow Sea Region Infrastructure Spending and Land-Use/Pricing News

This list includes news about land use, related infrastructure investments, coastal conservation, real-estate prices, and associated values in the countries bordering the Yellow Sea, as well as relevant articles from elsewhere. This list is neither complete nor up to date. However, the most-recent version will be posted indefinitely at this web address. Feel free to pass along relevant articles to james.hadley@factplusfancy.com.

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2013 Archive

ABS-CBNnews.com, 2013.12.26 12:02, "[Bases Conversion and Development Authority] seeks to pattern Clark Green City after Korea's Songdo", http://www.abs-cbnnews.com/business/12/26/13/bcda-seeks-pattern-clark-green-city-after-koreas-songdo

PRWeb, 2013.12.09, "Construction in South Korea -- Key Trends and Opportunities to 2017" [Reportbuyer.com], http://www.prweb.com/releases/2013/12/prweb11404296.htm
[Selected quote] The housing market deflated in 2008 [...] South Korea's construction industry underwent a period of weak performance due to the financial crisis. Output declined by 1.6% in 2009 and recorded only a marginal growth of 0.9% in 2010. Korean construction companies are struggling due to weak property sales on account of tightening credit conditions. Office building construction projects that were delayed following the financial crisis resumed development in 2011. A number of these projects have been completed or are nearing completion, and the market is therefore oversupplied. In the fourth quarter of 2012, leasing demand for Grade A office buildings in Seoul recorded a noticeable decline. Considering the oversupply and the moderate growth forecast, the market will continue to be tenant-driven with developers competing on price to have their properties leased. [...] Table 4: Project 1 -- OCI - Saemangeum Solar Energy Materials Complex - North Jeolla [...] Table 5: Project 2 -- Samsung - Saemangeum Green Energy Industrial Park - North Jeolla.

Ecologist, The, 2013.12.07, "The Green Climate Fund (GCF), which aims to finance the world's transition to a low carbon economy, has opened its headquarters in Songdo, Korea.", http://www.theecologist.org/News/news_round_up/2189529/green_climate_fund_opens_in_korea.html
[Selected quote] The world will need to spend an estimated US$5.7 trillion annually in green infrastructure by 2020 in order to limit global temperature rise to 2 degrees C.

Wall Street Journal, The, 2013.12.06, "South Korea's $35 Billion 'Labor of Love': Developer Struggles to Build a City From Scratch" by In-Soo Nam, http://on.wsj.com/1c9JWyz
[Selected quote] A Korean city of 67,000 people, with the country's tallest tower, has risen from what was a barren wasteland 11 years ago. But the Songdo project has been a financial disappointment for its developer [...] Songdo's centerpiece -- a [US$] $35 billion business district [is] a venture of U.S. developer Gale International and Posco Engineering & Construction. The venture has gotten fees and has been able to get back the equity it put into the project, less than $100 million. But other than that, the developer hasn't earned any profits for the 12 years of work it has put into building Songdo. [...] The developers say the main cause of Songdo's disappointing financial results is the global financial downturn, which made financing scarce and slowed demand for retail and office space. While Songdo's condominiums have sold well, about half of the commercial space in Songdo's gleaming office skyscrapers is empty. [...] The district, originally scheduled to be completed in 2014, is about half finished, with about 50 million square feet built. Officials now predict it will be finished in 2017 or 2018. Financial returns also will be limited for Gale and Posco because of a concession they made in 2010 during a restructuring of Songdo's debt, giving up 50% of the future profit to the city of Incheon. The restructuring and changes to the development plan were necessary partly because the cash flow of the project had fallen to the point that uncertainty was growing over repaying about $2.5 billion of debt held by a bank group led by Shinhan Bank. As part of that restructuring, the maturity date on that debt was extended to 2016 from 2014. Also, Posco agreed to guarantee a portion of the loan. In exchange, the Korean construction company, which already had the rights to build the majority of the residential projects, got rights to build the rest. [...] John Hynes III, who was chief executive of Gale, said in an interview last week that he stepped down from Gale in 2010 partly out of frustration over what he called "turbulence" between Gale and the Korean government. "It basically became a Korean project with an American name only at the wheel," he said. [...] Gale officials say one of the problems with filling office space all along has been that government incentives have been available for foreign companies but not for domestic companies. That has made it difficult for Songdo to attract law firms, accounting firms and other service companies that the foreign companies need. "If you don't have a thriving domestic economy in that area, it's going to be more difficult to attract international investors," says Tom Murcott, a Gale executive vice president. But mayors and government officials in other parts of the country didn't want their tenants lured away. "Clearly you can't give such tax favors to each and every company," says Ryu Young-yong, a director at the Ministry of Trade, Industry and Energy. "It relates to a matter of fairness with other Korean companies operating in other parts of the country."

Korea Times, The, 2013.11.20 20:08, "Songdo offers unique opportunity: Univ. of Utah president confident of Asian campus's success " by Bahk Eun-ji, http://www.koreatimes.co.kr/www/news/nation/2013/11/181_146606.html
[Selected quote] David W. Pershing, president of the University of Utah, said [... Utah's Songdo campus] is set to open in Songdo, Incheon, in March [2013...] Despite concerns about foreign universities' campuses in Korea suffering low enrollment, Pershing is confident of his school's ability to attract and retain students. [...] Undergraduate students who enroll there will take what is described as a "3+1" program. This means that, in order to obtain a degree, each student must spend one year at the main campus in Salt Lake City. Similarly, students enrolling in the graduate program will enter into a "1+1" program, where one year at the main campus will be required. [...] Students enrolling in the University of Utah Asia Campus [at Songdo] will have a choice of three undergraduate degrees (social work, communications and psychology), and one graduate degree (public health). [...] Korean students are predicted to make up only 40 percent of the student body, while students from the U.S. and Europe will represent 20 percent, and students from the Asia region will sit at 40 percent of all students. [...] "To ensure the success of both the Incheon Free Economic Zone (IFEZ) and of Songdo Global University Campus, the Korean government also provided unprecedented financial support" [President Pershing said.] "We aim to achieve excellence, encourage diversity and ensure sustainability and affordability. At The University of Utah, we look to create a supportive environment for creative doers. [...] We value both academic accomplishment as well as a clear demonstration of community contribution"

CNBC, 2013.11.11, "Hamburg and Songdo: Two cities tackling sustainability" by Anmar Frangoul, http://www.cnbc.com/id/101186784
[Selected quote] Songdo, built on land reclaimed from the Yellow Sea in South Korea, is not even finished yet -- and is expected to cost $40 billion to develop -- but is already drawing attention for its use of technology in making city life sustainable. [...] While Songdo may be on the way to becoming environmentally sustainable, is such an ambitious project economically viable? "Up-front costs are increased," Jonathan Thorpe, Senior Executive Vice President and Chief Investment Officer of Gale International, the U.S. company behind Songdo, said in a report for CNBC's Innovation Cities. "But… operating and maintenance costs are reduced, and this translates into higher sales values, or translates into higher rents, and therefore higher property values," he added. "So we think… [there] is a fundamental economic incentive, and economic benefit, to sustainable design."

4-traders, 2013.10.23 6:33, "OCI Co. Ltd.: OCI SE Breaks the Ground to Construct Eco-friendly Cogeneration Plant in Saemangeum Industrial Complex", http://www.4-traders.com/news/OCI-Co-Ltd--OCI-SE-Breaks-the-Ground-to-Construct-Eco-friendly-Cogeneration-Plant-in-Saemangeum-I--17383680/
[Selected quote] Slated to be built on a site of 160,000m2 at a total overall cost of KRW 1.0 trillion, it will supply electricity and steam required for industrial, commercial and residential facilities that will join the complex in near future. In addition, OCI Company, the global leading green energy and chemical company, plans to invest KRW 2.2 trillion for a cutting-edge chemical materials business and etc. Thus OCI eventually will invest a total of KRW 3.2 trillion, including KRW 1.0 trillion for the construction of the cogeneration plant by OCI SE.

Fairfax City Patch, 2013.10.19 5:45, "A New George Mason University Campus -- In Korea? GMU's new campus in Korea is set to open soon, and scholarships are already amassed for Fairfax students who want to study abroad" by Jennifer van der Kleut, http://fairfaxcity.patch.com/groups/business-news/p/a-new-george-mason-university-campus--in-korea
[Selected quote] Matthew Zingraff, Mason Korea's interim president and provost, met with the mayor of Incheon Metropolitan City, the commissioner of the Incheon Free Economic Zone Authority (IFEZA), the president of the Songdo Global University Foundation, and various other academic and government leaders during the final signing ceremony for the operation support agreement last week.

Korea Times, The, 2013.10.14 18:54, "Incheon aims to become Asia's business hub" by Choi Kyong-ae, http://www.koreatimes.co.kr/www/news/biz/2013/10/123_144316.html
[Selected quote] FDIs in three districts of Incheon -- Songdo, Youngjong and Cheongna -- soared to $2.13 billion in 2012 from $554 million a year earlier. The corresponding figure so far this year stands at $926 million, showed the data released by the IFEZ. For the whole of last year, the IFEZ accounted for 13 percent of the country's overall FDIs valued at $16.26 billion and it marked 67 percent of the Incheon City's overall FDI records of $3.18 billion, said the statement. Other global organizations that already joined or are lined up to enter the IFEZ include the Association of World Election Bodies (A-WEB) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). UN ESCAP is created to help the countries of Asia-Pacific achieve equitable economic and social development through regional cooperation.

Business Korea, 2013.10.08, "Foreign Investment: Japan's Toray to Invest 300 Billion Won to Build Integrated PPS Plant in Korea", http://www.businesskorea.co.kr/article/1623/foreign-investment-japan%E2%80%99s-toray-invest-300-billion-won-build-integrated-pps-plant
[Selected quote] The plant's capacity will be 8,600 tons of PPS resin and 3,300 tons of PPS compounds. Out of the total output, 80 percent will be shipped to China. To this end, Toray will invest 86 billion won (US$80.1 million), while its Korean unit will be responsible for the rest of the expenses. [...] Saemangeum beat its rivals in Malaysia and Thailand due to [...] "perfect" infrastructure and its geographical proximity to China. An industry source said, however, that such a move by Toray is concerned with its recent trial of acquiring Woongjin Chemical in financial trouble.

Business Korea, 2013.10.07, "Secretariat of World Bank Likely to Be Located in Songdo, Incheon City, Korea", http://www.businesskorea.co.kr/article/1596/secretariat-world-bank-likely-be-located-songdo-incheon-city-korea
[Selected quote] At first, the global financial institution desired to move to Seoul, but the government actively supported Songdo. Incheon City also offered a free lease of one floor on the building in which GCF's secretariat will be situated. On top of that, the City suggested that it will bear the expenses for interior decoration and equipment installation, along with electricity and water bills.

Chosun Ilbo, The, 2013.10.01 12:28, "Shanghai Sets Example for Korea's Free Trade Zones" editorial, http://english.chosun.com/site/data/html_dir/2013/10/01/2013100101691.html
[Selected quote] A new free trade zone opened in Shanghai on Tuesday offering even more perks and less red tape than existing special economic zones in China. Foreign investors can set up wholly-owned financial institutions, hospitals and theme parks, and drastic measures will be taken to open the financial, shipping, communication, service and education industries in the zone. [...] Thirty years ago, it was China that looked to Korea as a model for its reforms and market opening. No longer. The Songdo international business district in Incheon is a poignant example. China underwent cataclysmic changes by developing the Pudong region, but Songdo remains practically empty 10 years after construction, and its streets grow eerily silent after sunset. Less than 20 foreign businesses have moved into Songdo, and it is still faring better than most other FEZs in Korea. [...] Foreign direct investment into Korea shrank from US$.9.3 billion in 2004 to $5 billion in 2012.

Yonhap News, 2013.09.03, "Park names head of agency overseeing Saemangeum development project", http://english.yonhapnews.co.kr/news/2013/09/03/0200000000AEN20130903005900315.html
[Selected quote] Lee Byoung-gook, a senior official with the Office for Government Policy Coordination, was tapped to lead the agency to be launched this week to oversee development efforts for the Saemangeum reclamation area, presidential spokeswoman Kim Haing said.

BBC News, 2013.09.01, "Tomorrow's cities: Just how smart is Songdo?" by Lucy Williamson, http://www.bbc.co.uk/news/technology-23757738
[Selected quote] ...the city is currently less than half full; less than 20% of the commercial office space is occupied, and the streets, cafes and shopping centres still feel largely empty. [...] Despite being next to South Korea's main international airport, transport links into the capital itself are rudimentary [...]

Sun Gazette, 2013.08.26, "GMU Campus in South Korea Garners Final Approval", http://www.sungazette.net/arlington/news/gmu-campus-in-south-korea-garners-final-approval/article_ca1a293c-0d87-11e3-b450-001a4bcf887a.html
[Selected quote] George Mason University's plan to open a campus in South Korea has received final approval from the Korean Ministry of Education and is slated to open next spring [...] The campus -- to be located in Songdo, about 25 miles from Seoul -- will initially provide coursework in economics and management [...]

China.org.cn, 2013.08.16, "Land reclamation for Dalian airport illegal" by Chris Parker and Hu Xuedan, http://www.china.org.cn/business/2013-08/16/content_29740570.htm
[Selected quote] Dalian, a port city in the northeast of China, is building the world's largest on-sea airport, in an ambitious land reclamation project, although construction has started without official approval. The new airport will cover an area of 20.87 square kilometers, big enough to accommodate an Airbus A380, and is expected to cost a total of 26.3 billion yuan (US$4.3 billion). It is designed to significantly reduce the shortage of airport capacity in the city. However, according to reports, although the land reclamation work was scheduled to start on March 20 2012, it in fact began illegally in 2011. [...] Any airport land reclamation project must be approved by the National Development and Reform Commission, and be evaluated by the Ministry of Environmental Protection before construction can start. However, no approval has been issued for the project so far.

Korea IT Times, The, 2013.08.09, "Songdo IBD Residents Oppose to KOGAS LNG Facility Expansion Plan", http://www.koreaittimes.com/story/31054/songdo-ibd-residents-oppose-kogas-lng-facility-expansion-plan
[Selected quote] The "Songdo International Business District Alliance," an umbrella body comprising 23 civil society organizations, held a press conference on August 8 at the Incheon City Hall and said, "We demand to Korea Gas Corp. that the Songdo LNG terminal expansion plan be scrapped." The members said, "As it stands, the area surrounding the Songdo LNG terminal is full of potentially dangerous facilities including a garbage incineration plant and LPG storage tanks. After the construction of the new planned city in Songdo following reclamation, the distance between the terminal and the city has been narrowed to 2 kilometers from the previous 18 kilometers, increasing the risk to the residents." The citizen groups pointed out that no step has been taken to prevent the recurrence of the gas leak incident in 2007, which they said was another reason for their opposition. Korea Gas Corp. plans to build three 200,000-ton storage tanks and three 120-ton-per-hour LNG regasification processing plants in Songdo by 2017.

Wall Street Journal, The, 2013.08.08 23:02, "China's Gleaming Ghost Cities Draw Neither Jobs Nor People" by Dinny McMahon, http://online.wsj.com/article/SB10001424127887324412604578515382905495900.html

Dredging Today, 2013.08.05, "Boskalis Bags EUR 80 Million Dredging Contract", http://www.dredgingtoday.com/2013/08/05/boskalis-bags-eur-80-million-dredging-contract/

Maritime Executive, The, 2013.08.05, "Boskalis Acquires EUR 80 Million Dredging Contract in South Korea" by Marex, http://www.maritime-executive.com/article/Boskalis-Acquires-EUR-80-Million-Dredging-Contract-in-South-Korea--2013-08-05/
[Selected quote] Royal Boskalis Westminster N.V. (Boskalis) has been awarded a contract by Daewoo E&C for the dredging and reclamation of new land for Songdo International City on the waterfront of Incheon, South Korea. The total value of the contract amounts to approximately EUR 80 million. The project consists of reclamation of new land which will be used for residential and commercial developments in Songdo, Incheon. This will be achieved through the hydraulic fill of around 23 million cubic meters of sand. The sand will be sourced from the navigation channels approaching the existing and new Ports of Incheon.

Wall Street Journal, The, 2013.08.01 13:54, "World Bank Mulling Sweeping Proposals for China Reform" by Bob Davis and Tom Orlik, http://online.wsj.com/article/SB10001424127887324136204578641622599923676.html
[Selected quote] Any plan to privatize land is bound to raise practical as well as ideological opposition. Local government officials, who get revenue by seizing land at a discount and selling to real-estate developers "won't agree to privatization," said another adviser to the World Bank project, Fudan University economist Ming Lu.

Yonhap News Agency, 2013.07.31, "China still big chance for Korean companies [via Saemangeum, Finance Minister Hyun OhSeok says]", http://english.yonhapnews.co.kr/business/2013/07/31/11/0502000000AEN20130731004700320F.html
[Selected quote] South Korea completed the construction of the world's longest seawall (33.9 kilometers) in Saemangeum in 2010, with an aim to reclaim the surrounding area and transform it into an eco-friendly manufacturing hub for automobiles, industrial materials and renewable-energy companies. The government also designated some parts of the region as a free economic zone (FEZ) as part of efforts to attract foreign investment. But investment figures remain lackluster there. Hyun said that the government is working on crafting measures to stimulate the country's free economic zones. They include scaling down the size of the FEZ in the Saemangeum area for improved efficiency and management. In order to accelerate the development of the Saemangeum area, the government will work hard to build necessary infrastructure including a seaport and a large-scale logistical complex that will help with exporting goods produced in the region, Hyun added.

Nature, 2013.07.24, "China's cordgrass plan is 'overkill': Experts say Shanghai sea wall will cripple wetland habitat." by Jane Qiu, http://www.nature.com/news/china-s-cordgrass-plan-is-overkill-1.13437
[Selected quote] But "factors other than conservation were likely to be involved in the decision-making process" that led to the plan for a permanent sea wall, says [Ma Zhijun, an ornithologist at Fudan University in Shanghai] As more farmland is converted to hotels, amusement parks and golf courses in Chongming, local officials are increasingly pressed to find lands to replace them -- as required by the central government. Reclaiming land from the sea is seen as an easy and cheap option.

Yonhap News Agency, 2013.07.04 16:47, "Gov't spurs development of Saemangeum reclamation area", http://english.yonhapnews.co.kr/national/2013/07/04/16/0301000000AEN20130704003251315F.HTML
[Selected quote] The government kicked off its drive Thursday to build agricultural and tourism facilities [...] As part of the effort to create some 81.7 square kilometers of agriculture land by 2020, which accounts for about 30 percent of the total reclamation area, the government began building infrastructure on Thursday such as irrigation channels, streets and reservoirs. The first phase of the project aims to complete construction of 15.1 square kilometers of farmland by 2017 with a budget of 145.6 billion won, the [Prime Minister's Office] said. In a move to transform the region into a tourism hub, the government also plans to begin construction of a massive leisure complex near the seawall within this year. [...] "Along with pushing for government-led projects, we will strive to lure investment from private entities," said [Kwon Tae-sung, chief of the Office for Saemangeun Development Planning under the arm of the Prime Minister's Office.]

George Mason University News, 2013-06-21, "Zingraff Named Interim President of Mason Songdo Campus" by Michele McDonald, http://newsdesk.gmu.edu/2013/06/zingraff-named-interim-president-of-mason-songdo-campus/

Center of Korean Studies, SOAS, University of London, 2013.06.05, "New Songdo City and South Korea's Green Economy: An Uncertain Future" seminars by Gareth Dale (Brunel University) and Glen Kuecker (DePauw University), http://www.soas.ac.uk/koreanstudies/events/05jun2013-new-songdo-city-and-south-koreas-green-economy--an-uncertain-future.html

Dredging Today, 2013.05.08, "Jiangnan Land Reclamation Contract Awarded (China)", http://www.dredgingtoday.com/2013/05/08/jiangnan-land-reclamation-contract-awarded-china/
[Selected quote] Located in Jiangnan reclamation zone in Cangnan County, Zhejiang Province, the project [...] involves reclamation and soft foundation treatment. Lot I won by CCCC Shanghai Dredging Co., Ltd. has a total reclamation area of 10.75 million square meters and a contract value of 1.474 billion yuan; Lot 2 won by CCCC Guangzhou Dredging Co., Ltd. has a total reclamation area of 7 million square meters and a contract value of 1.22 billion yuan. The project will play a significant role in giving play to Cangnan's advantage in beach resources, improving the scarcity of land resources in Cangnan and promoting the coordinated development of Cangnan's economy and society.

Herald Scotland, 2013.05.06, "Scotland signs marine energy deal with South Korea", http://www.heraldscotland.com/news/environment/scotland-signs-marine-energy-deal-with-south-korea.1367865939

Dredging Today, 2013.04.18, "CCCC Tianjin Dredging Wins Another Land Reclamation Deal (China)", http://www.dredgingtoday.com/2013/04/18/cccc-tianjin-dredging-wins-another-land-reclamation-deal-china/
[Selected quote] Located in Ningbo, Zhejiang Province, the project has [a total contract value of 230 million yuan,] a land reclamation area of 2.4 million square meters and a reclamation volume of 6.25 million cubic meters. The eastern separation levee is 2,635 meters and the northern cofferdam is 602 meters. The project is of positive significance to promoting the optimization of the industrial structure and the transformation of the development mode in the Yangtze River Delta and impelling Chinese coastal areas to expand opening-up.

Expatica.com, 2013.04.08, "University of Ghent to open campus in Korea" b, http://www.expatica.com/be/news/belgian-news/university-of-ghent-to-open-campus-in-korea_262506.html
[Selected quote] Courses will be lectured by a 20-strong team of permanent academic staff members, including researchers from Ghent and international researchers to be recruited for these posts. In addition to the permanent staff, about twenty visiting professors from Ghent will fly to Korea to offer month-long courses at the campus. "The Korean government made us an attractive offer," says Thomas Buerman, who co-ordinates the project at the University of Ghent. "The Korean government will cover all the costs of the buildings and staff as they want to prevent losing their bright students to foreign universities at all costs. And we do not have to invest any Flemish taxpayers' money." [...] For now this will remain the only campus of a Flemish university abroad, as other Flemish universities do not seem keen to follow the example. The rector of the University of Leuven, Mark Waer, reiterates that his university had considered such a step in view of the many requests from universities in Asian countries. The university however concluded that an inability to maintain its renowned quality of research and education may tarnish the university's international image in the long term.

Asia One News, 2013.04.05, "Bolshoi Ballet Academy to open Korean branch", http://news.asiaone.com/News/AsiaOne%2BNews/Asia/Story/A1Story20130405-413774.html
[Selected quote] The school is expected to offer undergraduate degrees in dance and choreography, and teaching certification programs. About 60 students will be admitted each year, once the school opens in the next two years.

Korea Herald, The, 2013.04.01, "Green growth institute mulls moving to Songdo" by Shin Hyon-hee, http://nwww.koreaherald.com/view.php?ud=20130401000910
[Selected quote] The Global Green Growth Institute [GGGI] is considering moving to the international business district of Songdo, Incheon, to take advantage of a synergy effect with the Green Climate Fund [GCF] and various incentives from the city government, officials told The Korea Herald. [...] "We're looking into the option after receiving an offer of free office space for 10 years from the city," a GGGI official said on condition of anonymity because the decision had not been finalized. The GGGI was set up in 2010 by the Korean government to bridge rich and poor countries in sharing technological knowhow for and funding environmentally-friendly development. [... In addition,] Incheon has promised the GCF to gradually provide 15 floors of office space at the 33-story I-Tower by 2020 and a right to use the Songdo Conventia conference center for 20 days a year, all free of charge for 10 years. It will also shoulder part of the GCF's operating expenses along with the Finance Ministry.

Salt Lake Tribune, The, 2013.03.15, "University of Utah moves ahead with South Korea campus" by Lindsay Whitehurst, http://www.sltrib.com/sltrib/news/55993535-78/campus-university-korean-students.html.csp
[Selected quote] The University of Delaware ended its involvement after a survey found Korean students couldn't or wouldn't pay the tuition the school would need to offer classes there. "We just couldn't make it work," said spokeswoman Andrea Boyle Tippett. North Carolina State also pulled out three years ago, and the University of Southern California halted its plans last year. Both schools cited tight budgets. But four Western schools remain committed to the $350 million campus, and one, the State University of New York, opened its doors to 34 students last year. Along with the U. [of Utah], George Mason University in Virginia and Ghent University in Belgium plan to begin classes in March 2014. [...] "This is an opportunity that is about as risk-free as you can have," said Robert Muir, director of international operations and financial analytics. "We feel comfortable that we will be able to do this with no investment from the state [of Utah]." [...] "We start to look very carefully at making net gains at years four and five. If that's not happening ... we have an exit strategy," [said Michael Hardman, interim senior vice-president for academic affairs ...] A team of lawyers, meanwhile, is exploring labor laws, intellectual property regulations and other legal ramifications for the university. "Right now, what we want is for intellectual property law from Utah to apply to the campus," Hardman said. "We won't open the campus until that's resolved." [...] "[Koreans] have a sense of being somewhat of a stepchild in Asia," Hardman said. "They want to see themselves as being a major player globally. That's why they're making this investment."

University Herald, 2013.03.15, "University of Utah to Open Its First International Campus in South Korea" by Stephen Adkins, http://www.universityherald.com/articles/2969/20130315/university-utah-open-first-international-campus-south-korea.htm
[Selected quote] The South Korean government will donate a minimum of $1.5 million a year to the university for the first four academic years, plus, interest-free $10 million loan with no compulsion to pay it back unless the campus is running successfully. In addition, the university will be permitted to use the state-of-the-art Korean-built campus for free for at least five years. [...] A study conducted by the university shows that South Koreans can afford to pay $20,000 tuition fee, which is similar to what out-of-state and international students pay currently at its campus. [...] George Mason University from Virginia and Ghent University in Belgium will also start its operations in March 2014. [...] the state University of New York [Stony Brook] has already started its classes last year with 34 students.

South China Morning Post, 2013.03.08, "F1 racing club for Asia's mega rich" by Andrew Salmon, http://www.scmp.com/lifestyle/motoring/article/1185525/f1-racing-club-asias-mega-rich
[Selected quote] Are Asia's newest super-rich willing to ditch their weekend golf games in favour of thrashing supercars around a racetrack [...] on an island in the Yellow Sea? That is the bet being made by Weingrow, an investment firm [...] and its partners, Britain's Williams and Italy's Automobili Lamborghini. Weingrow's managing director, Akis Stark, announced last month in Seoul that a memorandum of understanding had been signed with the city of Incheon, in South Korea, to launch the world's first racing and lifestyle club. At a cost of "under US$1 billion", Stark, an Anglo-Greek entrepreneur, envisages a resort [...] on a reclaimed island off Incheon by 2016.

New Zealand Herald, The, 2013.02.23, "Plight of the godwits" by Geoff Cumming, http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10867153
[Selected quote] Godwits are famed for their ability to fly here direct from their breeding grounds in Alaska. But on the way home, like the other birds, they must stop to refuel if they are to reach the Arctic Sea in suitable condition to breed successfully. Their key "gas station" is 10,000 [kilometers] away in the Yellow Sea, where rampant development of the coastline and tidal mudflats by China and Korea is threatening the future of many migratory bird species. [...] Bar-tailed godwit numbers are holding up locally but declining globally and expected to soon hit a downward spiral here. [...] The pace and extent of reclamation around the Yellow Sea is astonishing. An average of 285 [square kilometers] in coastal China is being reclaimed each year, with 57 per cent of wetlands already lost, a report cited in China Daily claims. Habitats are disappearing at such a rate that researchers fear population collapse is imminent for many species. [Book review of] Shorebirds Of New Zealand - Sharing The Margins, by Keith Woodley.

BBC News, 2013.02.21 01:14, "Building cities of the future now" by Jane Wakefield, http://www.bbc.co.uk/news/technology-20957953

Wall Street Journal, The, 2013.02.05 13:24, "China Takes a Big Bat to Income Gap" by Liyan Qi and William Kazer, http://online.wsj.com/article/SB10001424127887324761004578285592964530314.html
[Selected quote] The [State Council] statement also called for long-term efforts to boost farm income. It said Beijing needs to protect farmers' interests by ensuring they receive more income from the sale of farm land. Disputes over expropriated farm land have become a serious threat to social stability. Local officials, often working hand in glove with property companies, frequently seize farm land for development projects but with little or no compensation for farmers. The State Council also promised to make it easier for farmers to move to the cities. A household registration regulation known as the "hukou" system, currently makes it difficult for people from the countryside to live permanently in the cities with the same benefits from education and health care as other urban residents. The State Council also pointed to a big wealth gap between the urban and rural regions and vowed to provide more fiscal support for the less developed central and western regions of the country.

George Mason University News, 2013.01.28 17:53, "Mason Korea Multimedia Exhibit and Information Sessions to Focus on Songdo Campus" by Steven Harris-Scott, http://newsdesk.gmu.edu/2013/01/mason-korea-multimedia-exhibit-and-information-session-to-focus-on-songdo-campus/
[Selected quote] SUNY-Korea began operations at [Songdo Global University Campus] SGUC with graduate students last year and is expected to enroll its first undergraduates this spring. Mason, the University of Utah and Ghent University in Belgium are slated to enroll students for the academic term that starts in spring 2014.

Dredging Today, 2013.01.24, "China: CCCC Shanghai Bags Zhejiang Land Reclamation Deal", http://www.dredgingtoday.com/2013/01/24/china-cccc-shanghai-bags-zhejiang-land-reclamation-deal/
[Selected quote] CCCC Shanghai Dredging Co., Ltd. won the bid for the backfill works (Zone 4) of the Phase 1 reclamation area in Xiaoguoju, Liuheng, Zhejiang Province, with a contract value of 180 million yuan and a construction period of 180 days. Located in Putuo District, Zhoushan, with a total backfill area of some 950,000 square meters, the project is the preliminary works of the basic port-vicinity industry zone in Liuheng, Zhoushan Port, Ningbo.

Washington Post, The, 2013.01.17 15:00, "7 years after Katrina, inspectors finding dangerous deficiencies in US levees" by Associated Press, http://www.washingtonpost.com/national/ap-impact-7-years-after-katrina-inspectors-finding-dangerous-deficiencies-in-us-levees/2013/01/17/0b591416-607d-11e2-bc4f-1f06fffb7acf_story.html
[Selected quote] The condition of flood control systems came into dramatic focus in August 2005 when Hurricane Katrina's rain and storm surge toppled levees in New Orleans and tore up the Gulf Coast. It left 1,800 people dead and was the costliest storm in U.S. history with damage estimated at $108 billion. [Since then the U.S. Army Corps of Engineers has been evaluating levees.] As of Jan. 10, [they] had published ratings for 1,451, or 58 percent, of the levees. Of those, 326 were unacceptable, 1,004 were minimally acceptable with deficiencies that need correcting, and 121 were acceptable.

Advocate, The, 2013.01.07, "Morganza to Gulf levee project swells to $12.9 [billion USD, from $887 million in 2007]" by Amy Wold, http://theadvocate.com/home/4839743-125/report-levee-project-swells-to [For levee cost comparison, see also http://1.usa.gov/ZVel3A]

Washington Post, The, 2013.01.03, "Songdo, South Korea: The city that could change the way we travel" by Kelly DiNardo, http://www.washingtonpost.com/lifestyle/travel/songdo-south-korea-the-city-that-could-change-the-way-we-travel/2013/01/03/babb96a0-4614-11e2-8061-253bccfc7532_story.html