For the people of Yangyang, the economic effects are more significant. The loss of students and faculty is one thing but also the housing market bucket is about to get a hole in the bottom.
Below is a banner (click to enlarge) from Yangyang District office, asking the university to stay. Aside from exclamation points, I don't know if the district is offering anything in return.
I am not a good longterm planner myself but I have to shake my head when I recall that although the Gangneung campus is more than fifty years old, the Yangyang campus is only six or seven years old. Also, the foreign staff are housed in new apartments built by Myoungji Construction (Myoungji also funded the university) five years ago. Myoungji may now have trouble filling it's own apartments.
Well, I prefer the Gangneung campus myself and I hope the move will help the engineering students (Yangyang is the engineering campus) stop feeling like second class members of the university.
Yes, the closing of the campus is a big deal - yet I didn't hear or see anything about it in the last election. Did nobody care one week ago?
Oh, the last I heard, the campus may be converted to a 'silvertown' - silver as in 'hair'. It may become a home for senior citizens.
While I sympathize with Yangyang district, their choice of placement for the sign makes me think there is good reason to get out of town.
For those who don't see my objection (and they would comprise all the banner making and hanging organizations in Korea), it completely blocks the crosswalk. It's between the sidewalk and the crosswalk. Perhaps this best displays the value some Koreans hold for crosswalks.