Abstract

This study introduces a new policy for university reform currently being implemented in Korea and reviews the theoretical discussions surrounding it. The policy, known as the “Glocal University 30 initiative,” involves the central government designating 30 universities and providing each with $74 million USD. The aim is to encourage these universities to pursue internal innovation while fostering collaboration with local governments to drive regional development. Theoretically, this policy can be classified as an entrepreneurial activity of universities, but it differs from existing models in several key ways. First, it is an initiative that includes Tier 1 regions. Second, it is a cooperative model involving not only local authorities but also the central government. Third, it promotes collaboration with research and specialized institutions. Lastly, it demands a complete transformation of universities into new, innovative institutions. This distinctive nationwide effort highlights the growing importance of regional development as the “fourth role” of universities.